Real Estate developers have to register as companies in Rajasthan

JAIPUR: From now onwards real estate developers planning to develop a township within or more than 10 hectare of land will have to register themselves as a company. To keep a quality check on new townships and regulate real estate developers in the state, the Urban Development Housing (UDH) department has issued the direction to all civic authorities.

“In the recent few years several short-term private developers have developed townships using low quality material to gain profits. Buyers purchasing such houses have suffered. As there is no registered company, it is difficult to keep a tab on such developers. This move is to keep a watch on non-serious developers” an official at the UDH department said

According to the central government recommendation in town policy 2010, the UDH department has directed all real estate developers (10 hectare) to appoint technical staff in the company for registration. “Many townships developers have flouted norms because of which many residents of these companies have faced problem in regularization of their land. With technical staff, company can be hold liable by the authorities,” he added. Real estate developers companies whose registration has expired will be authorized to register only on the basis of technical staff’s appointment.

The UDH department has directed all registered real estate developers to file a detailed report of the township plan developed by their company in every fiscal year. “The developer has to disclose the number of houses constructed, roads developed, and house booking status of his colony. This will help the authorities to keep a record and status of the township.” To keep a check on land mafias, real estate developers who have cases against them will not be liable to register their company.