RERA India is not only a buzzword among buyers and developers but is also of great significance to the Chairperson and Members of Authority. From knowing the selection procedure to the remuneration to the paid leaves, RERA is of great interest among Real Estate Regulatory Authority.
The draft rules of RERA related to remuneration payable to people in duty are as follows:
- The Chairperson will be paid a salary of rupees two lakh fifty thousand every month. But they will not be entitled to any allowance of housing and vehicle.
- The salary of Members of Authority differs for whole time members and part time members. The whole-time member will be paid a monthly salary of rupees two lakh. The whole time members will not be entitled to any vehicle or housing allowance. The part time member who will not be government servant will be paid salary on the basis of the meetings of Regulatory authority he attends.The salary shall be decided by the government from time to time. The part time members same as whole time members will not be be entitled to any housing or vehicle benefit.
A total of thirty paid leave will be granted to the chairperson and all the members of authority every year.The allowances and other benefits will be decided time to time by the appropriate government.
The pay, allowances, leaves, joining time, joining time pay, the age of superannuation and various other services of officers and other employees engaged by regulatory authority shall be decided by appropriate authority from time to time.
The Consultants and experts appointed shall not be considered the permanent members, they may appointed for a ensure of one year. Further the honorarium will be determined by the government and they shall be terminated by the authority by serving one month's notice.