17 real estate projects registered under RERA

Chandigarh, September 2

The state government has started issuing registration certificates to real estate projects. Headed by retired IAS officer Navreet Singh Kang, the Punjab Real Estate Regulatory Authority (RERA) has registered 17 major real estate projects in two days since the start of registration.

The first lot of all registered projects is residential. While 12 registered projects are located in Mohali, five are in Ludhiana.

Kang told The Tribune here today that on the request of the realtors who had failed to apply for registration till July 31, the last date for application was extended to October 31. However, the applications, received after July 31 will invite 5 per cent penalty.

He said over 460 applications from across the state had been received by the authority so far, which were being examined before issuing them registration certificates. As per an official estimate, 1,200 to 1,500 real estate projects are coming up in the state. Registration under RERA is mandatory for further execution of real estate projects. — TNS