RERA

To strengthen the existing RERA act as well as for its effective implementation across the country, the central government has constituted a committee recently. The decision was taken after many stakeholders; including home-buyers have raised their concerns on the existing law.  The committee will be headed by Union Housing and Urban Affairs Joint Secretary Shiv Das Meena.

Giving more information on the newly-formed committee, a government official said, “The ministry has formed a committee under its Joint Secretary Shiv Das Meena. The panel will look into the suggestions received at the four workshops on RERA and then submit its recommendations to the ministry,”

He further said that the committee will also consider whether there’s a need for changes under removal of difficulties of the central law’s clause. The first meeting of this committee will take play today and if required necessary recommendations can also take place in the RERA act.

Last month only, the Housing and Urban Affairs Ministry has released a fresh data which revealed that over 34000 real estate projects and 27,073 developers have registered themselves under the act. It also informed that till now 28 states and Union Territories have enacted RERA rules in their respective states. Out of this, 15 states/UTs have enacted the original one, while the other 13 have enacted interim RERA.

Also around Nine states/UTs have set up regular Real Estate Appellate Tribunal while other 12 states have enacted interim Real Estate Appellate Tribunal.