the goan I network
PANAJI
It was popularly believed that RERA would be set under the aegis of the Town and Country Planning Department given its relevance to the real estate sector.
The Parliament enacted the Real Estate (Regulation and Development) Act, 2016 for regulation and promotion of the real estate sector to ensure business transactions in the sector are conducted in an efficient and transparent manner while protecting the interest of the consumer.
Sources have informed that the Cabinet approved a resolution to insert RERA under the Department of Urban Development under the Goa Government allocation Rules, 1987 on grounds that the Centre too has allocated the central RERA under the Ministry of Urban Development.
