News: RERA disposes of over 65,500 complaints across India in four years-05-05-2021
RERA disposes of over 65,500 complaints across India in four years
A total 30 states and UTs have already set up a Real Estate Regulatory Authority since implementation, and of this at least 5 are interim. Jammu and Kashmir, Ladakh, Meghalaya and Sikkim have also notified their RERA rules but are yet to establish Authorities.
State-specific Real Estate Regulatory Authorities across India have disposed of 65,539 complaints of homebuyers over the last four years since the implementation of the legislation in 2017.
Out of this, nearly 40% cases or around 26,510 complaints were resolved in Uttar Pradesh, followed by Haryana with 13,269 cases and Maharashtra with 9,265 cases. The three states cumulatively accounted for nearly 75% of the total disposed cases under RERA in the country, showed data from the Ministry of Housing and Urban Affairs.
Project and real estate agent registrations under RERA have also been growing steadily. As of 24 April 2021, nearly 63,583 projects and 50,256 real estate agents have been registered under RERA across the country.
Back in the corresponding period in 2019, about 40,155 projects and 29,208 real estate agents were registered. This amounts to an increase of 58% and 72% respectively over the last two years, highlighted Anarock Property Consultants.
“One of RERA’s primary purposes is to address real estate consumers' grievances. As such, the fact that the RERA authorities of various states and Union Territories (UT) have resolved over 65,539 consumer complaints in the last four years is noteworthy,” said Anuj Puri, Chairman - ANAROCK Property Consultants.
According to him, Uttar Pradesh resolving the highest number of cases is notable considering how severely Noida and Greater Noida in Uttar Pradesh had been impacted by shady dealings of unscrupulous players.
Maharashtra remains the frontrunner for project registrations as of all projects registered under RERA to date across 34 states/UTs, Maharashtra accounts for a 45% share. Gujarat comes next with a 13% share, followed by Madhya Pradesh and Karnataka with about 6% share each, and Uttar Pradesh with a 5% share.
So far, 34 states and UTs have notified rules under RERA. The North Eastern State of Nagaland is still under process to notify its rules while West Bengal enacted its own legislation that was challenged by the MoHUA before the Supreme Court.
However, in a major development, the apex court has now struck down West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) stating that it overlaps with RERA that was enacted a law in the Parliament.
A total 30 states and UTs have already set up a Real Estate Regulatory Authority since implementation, and of this at least 5 are interim. Jammu and Kashmir, Ladakh, Meghalaya and Sikkim have also notified their RERA rules but are yet to establish Authorities.
