Archive · 28 May 2025
Rajasthan RERA to Auction Properties, Partners with MSTC
The Rajasthan government is making it easier to recover money from real estate developers who break the rules.
They are teaming up with a company called MSTC to hold online auctions of properties that developers own.
This helps RERA, the real estate watchdog, get money back faster.
Instead of a slow process, they can now directly auction properties.
The rules for these auctions are clear, and the government has also changed the fees for some projects, making them cheaper for certain types of properties like farmhouses.
This change will make sure that developers follow the rules, and the government can get their money back if they don't.
Rajasthan RERA will use e-auctions for attached properties to ensure compliance and timely recovery from developers.
MSTC Ltd, under the Ministry of Steel, is contracted by RERA to conduct the e-auctions.
The decision to engage MSTC was approved on May 15th, and auctions will follow Rajasthan Transparency in Public Procurement Rules.
RERA can now directly execute recoveries via e-auctions under Section 40 of the Real Estate Act.
A revised fee structure, effective June 1, 2025, was approved, with reduced fees for farmhouse schemes.
- Who
- Rajasthan Real Estate Regulatory Authority (RERA)
- What
- RERA is starting e-auctions of attached properties, partnering with MSTC Ltd.
- When
- The decision to engage MSTC was approved on May 15.
- Where
- Jaipur, Rajasthan
- Why
- To enforce compliance, ensure timely recovery from defaulting developers, and streamline the recovery process.
- Partner
- MSTC Ltd
- Approval Date
- May 15
- Legal Basis
- Section 40 of the Real Estate Act
- Revised Fee Structure Effective Date
- June 1, 2025
- Farmhouse Scheme Fee
- Rs 3 per sq metre