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Jammu & Kashmir Real Estate Regulatory Authority (J&K RERA) is accelerating efforts to formalise real estate projects in the Union Territory. The authority is preparing to notify revised master plans for Jammu and Srinagar, expected to improve land availability and planned urban development. Government agencies and private developers are encouraged to register ongoing and new projects under RERA to ensure proper infrastructure and layout compliance. Legacy projects without occupancy certificates are also being guided to register, aiming to protect homebuyer interests and ensure transparent project execution.
The Jammu & Kashmir Real Estate Regulatory Authority, operational since early 2024, has been taking steps to bring structure to the property market in the Union Territory. The authority is finalising revisions to the master plans for Jammu and Srinagar, which are expected to be notified soon. Once implemented, these plans will make more land available for development, improve town planning, and promote organised construction across both cities. Advertisement
Authorities such as the Srinagar Development Authority, Jammu Development Authority, and Housing Board control large land parcels in urban areas. These agencies are planning housing and mixed-use projects independently or with private partners. A key initiative involves a 450 acre parcel in Srinagar's Bemina area, where NBCC has submitted a detailed monetisation proposal for review. This project, if approved, could be valued around INR 20,000 crore and include residential, commercial, institutional, and entertainment components.
J&K RERA is also addressing unplanned subdivisions and sale of plots without proper layouts. Previously, developers often sold land after informal agreements, neglecting space for roads, green areas, and community infrastructure. Under new unified building bylaws, developers must allocate set percentages of land for roads, open spaces, and other public utilities. Only plots registered with RERA and approved by local authorities can now be sold, ensuring buyers receive planned plots with essential amenities.
The authority also stresses that RERA registration is applicable to government agencies. Even legacy projects completed without occupancy certificates are being encouraged to register so that any pending obligations to homebuyers can be resolved. J&K RERA officials provide guidance on documentation and approvals to ensure compliance from the start of new projects.
To strengthen operations, J&K RERA has adopted practices from established state RERAs. Its website, built taking cues from other portals, supports project registrations and tracking. Developers are required to maintain separate accounts for projects to safeguard buyer funds, following the three-account mechanism.
Currently, only five legacy projects have been registered to address pending issues, while four new projects are under review. The authority has set a target of registering around 100 projects. Teams are actively inspecting sites, identifying ongoing construction, and issuing notices to encourage registration.
Coordination with the Union Territory government and district administrations is also emphasised to enforce compliance and recovery certificates effectively. Notices have been issued to developers across Srinagar and other districts to guide them through RERA registration requirements, aiming for a more transparent and regulated real estate environment throughout the region.
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