Chhattisgarh Real Estate Regulatory Authority (RERA) Chairman Vivek Dhand on Saturday said RERA has brought transparency in the real estate sector.
He was addressing a workshop for promoters, architects and engineers from the districts of Bilaspur and Surguja divisions at the Bilaspur district office.
He said the regulatory authority is not to create hurdles in the work of promoters-builders but benefit both the promoters-builders as well as the consumer.
He remarked that the real estate sector has an important contribution in the progress of the country and accounts for 6 percent of the GDP. It is a source of employment for more than 4 crore people.
The materials produced by 250 types of industries are used in the sector. Before the formation of RERA, the real sector was not regularized. It led to exploitation of consumers and there was no mechanism to hear their grievances, he said.
He asked the promoters-builders to provide all facilities as per their declarations to consumers. The projects should be completed on time, otherwise a fine will be imposed and action initiated.
Each builder has to submit their accounts within three months.
The workshop also discussed various problems related to real estate with senior officials and solutions were found, a statement said.