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RERA: Revolutionizing Real Estate Regulations



  Aug 22, 2023

Real Estate Regulation and Development Act (RERA)


1. What is RERA?

The Real Estate (Regulation and Development) Act, 2016 (RERA) is a legislation enacted by the Indian government to regulate the real estate sector and protect the interests of homebuyers. It aims to bring transparency, accountability, and efficiency to the real estate industry.
 

2. Which regions have yet to establish or notify RERA Rules?

The states of Arunachal Pradesh, Meghalaya, Mizoram, Sikkim, and West Bengal, along with the Union Territory of Ladakh, have either not established the Real Estate Regulatory Authority (RERA) or have only notified interim orders for the establishment.
 

3. What steps are being taken to enforce RERA?

The respective Chief Secretaries of the mentioned regions are required to submit affidavits indicating the progress made towards enforcing and implementing RERA within 60 days from the date of the court order.
 

4. What progress has been made in RERA implementation across states and Union Territories?

As per a progress report submitted, all states and Union Territories except Nagaland have notified RERA rules. Around 32 States/UTs have established the Real Estate Regulatory Authority, while 28 States/UTs have set up Real Estate Appellate Tribunal. Efforts are being made by some regions to establish these bodies.
 

5. How many real estate projects and agents are registered under RERA?

Across the country, 1,09,308 real estate projects and 77,704 real estate agents have registered under RERA. Additionally, 1,11,222 complaints have been disposed of by the Real Estate Regulatory Authorities.
 

6. What is the future course of action for RERA implementation?

The matter has been relisted for review in January of the next year, and progress reports from the concerned authorities will be presented to ensure the effective enforcement and implementation of RERA provisions.


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