Executive Summary:
This notification announces the establishment of the Real Estate Regulatory Authority for the National Capital Territory of Delhi. It appoints a Chairperson and two Members to the Authority, defining their tenure as five years or until the age of sixty-five, whichever is earlier. The notification is issued by the Lieutenant Governor of Delhi, superseding a previous notification from November 21, 2016.
Key Points / Main Content:
* **Establishment of Real Estate Regulatory Authority:**
* The Real Estate Regulatory Authority is established for the National Capital Territory of Delhi.
* **Appointments:**
* Shri Vijay S Madan is appointed as the Chairperson.
* Shri Gyan Prakash Srivastava and Shri Ramesh Chandra are appointed as Members.
* **Tenure:**
* The tenure for the Chairperson and Members is five years or until attaining the age of sixty-five years, whichever is earlier, from the date of assuming office.
* **Supersession of Previous Notification:**
* This notification supersedes the Ministry of Urban Development, Government of India Notification S.O. No. 3494 E, dated November 21, 2016.
Impact Analysis:
* **Real Estate Developers:**
* Impact: Subject to regulation by the newly formed authority.
* Action Required: Compliance with the regulations and guidelines set forth by the Real Estate Regulatory Authority.
* **Homebuyers/Consumers:**
* Impact: Increased protection and regulation of real estate projects, potentially leading to more transparency and accountability.
* Action Required: Be aware of the regulations and utilize the authority for grievance redressal.
* **Government of NCT of Delhi:**
* Impact: Responsible for overseeing the functioning of the Real Estate Regulatory Authority.
* Action Required: Ensure the effective implementation of the Real Estate Regulation and Development Act, 2016, and provide necessary support to the Authority.
* **Chairperson and Members of the Authority:**
* Impact: Entrusted with the responsibility of regulating the real estate sector in Delhi.
* Action Required: Assume their roles and responsibilities as defined under the Real Estate Regulation and Development Act, 2016.
Key Entities Referenced
Real Estate Regulation and Development Act, 2016: A law enacted by the Government of India to regulate the real estate sector.
National Capital Territory of Delhi: A Union Territory and metropolitan region containing New Delhi, the capital of India.
Ministry of Urban Development: A former ministry of the Government of India, now merged into the Ministry of Housing and Urban Affairs, responsible for urban development.
Ministry of Home Affairs: A ministry of the Government of India responsible for internal security and policy matters.
Delhi Development Authority: An organisation in Delhi, which was designated as the Regulatory Authority under the Real Estate Regulation and Development Act, 2016 until the establishment of a dedicated Regulatory Authority.
Vijay S Madan: Appointed as Chairperson of the Real Estate Regulatory Authority for the National Capital Territory of Delhi.
Gyan Prakash Srivastava: Appointed as Member of the Real Estate Regulatory Authority for the National Capital Territory of Delhi.
Ramesh Chandra: Appointed as Member of the Real Estate Regulatory Authority for the National Capital Territory of Delhi.
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LAND AND BUILDING DEPARTMENT
[REAL ESTATE REGULATORY AUTHORITY BRANCH]
NOTIFICATION
Delhi, the 14th November, 2018
No.F.12(143)/2018/L&B/RERA/6424.—Whereas the Ministry of Urban Development, Government of
India, vide Notification S.O. No. 3494 (E) dated the 21st November, 2016, being the appropriate
Government, designated Vice Chairman, Delhi Development Authority, as Regulatory Authority under
sub section (1) of section 20 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016),
until establishment of a Regulatory Authority in the National Capital Territory of Delhi;
And whereas the Ministry of Home Affairs, Government of India, vide Notification S.O. No. 1395 (E)
dated 2nd May, 2017 directed that powers of the appropriate Government under the Real Estate
(Regulation and Development) Act, 2016 (16 of 2016) shall subject to the control of President and until
further orders, be exercised, in relation to the National Capital Territory of Delhi, by the Lieutenant
Governor thereof;
And whereas the Selection Committee for the selection of Chairperson and Members of the Real
Estate Regulatory Authority has recommended the names for the appointment of Chairperson and
Members of the Real Estate Regulatory Authority for the National Capital Territory of Delhi;
Now, therefore, in exercise of powers under sub section (1) of section 20 of the Real Estate
(Regulation and Development) Act, 2016 (16 of 2016) read with Government of India S.O. No. 1395 (E)
dated the 2nd May, 2017, and in supersession of S.O. No. 3494 (E) dated the 21st November, 2016 issued
by Ministry of Urban Development, Government of India, Lt. Governor of Delhi is pleased to appoint the
following as Chairperson and Members of the Real Estate Regulatory Authority for the National Capital
Territory of Delhi:-[PART IV DELHI GAZETTE : EXTRAORDINARY 3
1. Shri Vijay S Madan Son of Dr. Satya Pal - Chairperson
2. Shri Gyan Prakash Srivastava Son of Shri Ramanuj Lal - Member
3. Shri Ramesh Chandra Son of Shri Badri Prasad - Member
The tenure of the office of the Chairperson and Members, Real Estate Regulatory Authority, National
Capital Territory of Delhi shall be five years or till attaining the age of sixty-five years, whichever is
earlier from the date they enter upon their office.
The terms and conditions of service of appointment will be notified separately.
By Order and in Name of Lieutenant Governor
of National Capital Territory of Delhi,
RAJEEVA SHUKLA, Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.