Following directives from the Punjab government, the Real Estate Regulatory Authority (RERA) has officially regularized 695 colonies, with the registration process ongoing for 150 more colonies. According to a RERA official, colonies with an area exceeding 500 square meters fall under RERA’s jurisdiction, and approval from the regulatory authority is required for such colonies. The official mentioned that despite urging builders to come forward for regularization, there are still many who have not done so.
Under the regularization policy, both individuals and groups of residents in the same society have the option to apply for regularization. The official acknowledged that they do not have a specific count of the total number of colonies in the state and can determine it only when people apply for the regularization of their colonies. Over the past two years, RERA has been encouraging builders to initiate the regularization process, but only a few have taken the step.
The primary goal behind the regularization initiative is to provide benefits to buyers residing in unauthorized colonies lacking essential civic amenities. In approved colonies, RERA can require builders to provide basic facilities such as sewerage, drinking water, and roads to residents. However, in the case of unauthorized colonies, such interventions are limited.
Recently, RERA imposed a hefty penalty of Rs 1.5 crore on a real estate company for selling plots without approval. The company has projects in Mullanpur and Zirakpur.