The Rajasthan Real Estate Regulatory Authority issued regulations under the Real Estate (Regulation and Development) Act, 2016, aimed at bringing transparency and accountability to the real estate sector. These Rules were issued on 14th March, 2024 and are titled as Rajasthan Real Estate Regulatory Authority Regulations, 2024 The regulations cover various aspects of real estate projects and their regulation, including the submission of project details, confidentiality of documents, meeting procedures, submission of quarterly and annual reports, and compliance with regulatory standards.
The Regulations emphasize the importance of confidentiality of documents, stating that the Authority may direct that certain information be withheld from disclosure to other parties as being confidential, and provides guidelines for the submission of non-confidential summaries of confidential documents. It also outlines the procedures for recording decisions in meetings, confirming minutes, and taking into consideration the contents of confidential documents in arriving at decisions.
Additionally, the Regulations detail the online modules available for submission of project updates, corrections, and modifications, and the submission of quarterly progress reports (QPRs) by promoters. It also addresses the procedures for objection filing, display board requirements, and the publication of advertisements. The regulations also cover the dress code for proceedings, the use of electronic gadgets during hearings, and the preservation of records.
In summary, the Regulations provide comprehensive guidelines for the regulation of real estate projects, including procedures for submission of project details, confidentiality of documents, meeting procedures, submission of reports, compliance with regulatory standards, objection filing, display board requirements, and preservation of records. It emphasizes the importance of adherence to regulatory standards and provides detailed procedures for various aspects of real estate project management.
