business ๐๏ธ RERA cases: Revenue recovery set to speed up
RERA-K has rolled out a new Standard Operating Procedure (SOP) for revenue recovery, aiming to tackle slow order enforcement. This move operationalizes Section 40(2) of the RERA Act, 2016, which empowers RERA to enforce orders like a civil court. Currently, only 10% of the โน1,214.32 crore issued Revenue Recovery Certificates (RRCs) have been recovered as of the latest figures. The SOP mandates compliance checks within sixty days, followed by asset disclosure if non-compliance continues. A dedicated officer and new software are being implemented to ensure RRCs are processed within 3.5 months. ๐ก