TFP, Raipur, October 15, 2024: In a significant move to enhance transparency in the real estate sector, the Chhattisgarh Real Estate Regulatory Authority (RERA) held a crucial meeting at the New Circuit House, Raipur, involving bank officials and members of the Confederation of Real Estate Developers’ Associations of India (CREDAI). The meeting aimed at ensuring compliance with financial regulations for real estate projects. RERA Chairman Sanjay Shukla, along with executives from 28 national and private banks, including the Central Bank of India and Punjab National Bank, discussed the importance of following RERA rules in managing project accounts.
Mr. Shukla emphasized that many banks had been found operating accounts irregularly, leading to concerns about investor protection. He outlined the need for strict adherence to RERA’s provision, which mandates that 70% of the funds collected from buyers be transferred to a designated account, with withdrawals based on project progress. Banks agreed to collaborate with RERA to strengthen oversight and introduce software improvements to streamline processes.
On the same day, the state government took steps to address the concerns of its employees. Principal Secretary Niharika Barik Singh, chairing a committee focused on resolving employee grievances, met with representatives from various officer-employee unions at the Ministry. Key issues raised included delayed payment of dearness allowance, promotion opportunities for state officers, and the implementation of a “one state-one recruitment” system. Union leaders, including Kamal Verma and Avinash Tiwari, presented demands for housing benefits, health facilities, and revisions to pay scales.
During the meeting, Mrs. Singh assured that the demands would be reviewed and addressed at different administrative levels. Discussions also covered topics such as confidential reporting, online access to promotion benefits, and land allocations for government employee housing in Nava Raipur. The unions also requested immediate action on filling vacant positions and addressing salary discrepancies highlighted in a recent state government committee report.
These meetings signal the government’s commitment to improving both transparency in the real estate sector and the welfare of its employees, reflecting a proactive approach in key administrative areas.
