NEW DELHI (INDIA): Vice-Chairman of Delhi Development Authority (DDA) has been designated as Regulatory Authority for National Capital Territory of Delhi under the Real Estate (Regulation & Development) Act,2016. Ministry of Urban Development, Government of India, the competent authority in respect of Delhi under the Act, has issued a notification in this regard on Monday this week.
Sub-Section 2 of Section 20 of the Act empowers the appropriate Government to designate any officer as Regulatory Authority till a full fledged Regulatory Authority is established for the purposes of the Act which include grievance redressal in respect of projects registered with such authorities. Registration of real projects will begin only after notification of Section 3 of the Real Estate Act by the Ministry of Housing & Urban Poverty Alleviation which will be done in due course. The full Act is to come into force from May 1st next year.
Till such a full fledged Regulator comes into being, Vice-Chairman of DDA, acting as an interim-regulator would undertake preparatory actions like setting up website and putting in place required institutional mechanisms so that the multi-member Regulator can start functioning as and when it is established.