Shillong: The Meghalaya government has officially set up the Real Estate Regulatory Authority (RERA) to bring transparency, accountability, and consumer protection to the state’s growing real estate sector, officials confirmed on Saturday.
Formed under the Real Estate (Regulation and Development) Act, 2016, RERA Meghalaya will function as an independent statutory body comprising a full-time chairman and two members.
The authority is tasked with ensuring fair practices in the property market, safeguarding the rights of homebuyers, and enhancing investor confidence by enforcing compliance and streamlining project approvals.
RERA will oversee the mandatory registration of real estate projects, promoters, and agents in the state.
It will also serve as a regulatory and adjudicatory body, facilitating timely resolution of disputes between stakeholders.
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Officials highlighted that registration is not only a legal requirement but also crucial for promoting transparency and building credibility in the sector.
Developers and agents who fail to comply may face penalties and regulatory action under the Act.
The newly constituted authority has urged all real estate stakeholders in Meghalaya to register their operations promptly to align with the regulatory framework.
