RERA: Realtors seek PMO’s intervention

New Delhi:  The realty industry has pointed out several teething troubles in the implementation of the Real Estate Regulation and Development Act (RERA) including several states not appointing regulators and banks ceasing to fund unregistered projects. Industry body CREDAI has sought the intervention of the PMO, Finance Ministry and RBI to facilitate the implementation of the new law. It said the lack of synchronisation between the state authorities has led to a disparity in registration of realty projects, resulting in delays and having negative implications on all stakeholders. TNS