RERA disposes 65,000+ cases in four years
Four years after its implementation, Real estate regulatory authority (RERA) is coming closer to being the force it was envisioned to be, especially in disposing of consumer complaints across different states and UTs. A recent report by Anarock states that as many as 65,539 cases have been disposed of by the respective state authorities as of April 24, 2021, according to data by the Ministry of Housing and Urban Affairs.
Out of this, nearly 40% cases (approx. 26,510 complaints) were resolved in Uttar Pradesh alone, 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.
Project and real estate agent registrations under RERA have also been growing steadily. As of April 24, 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.
Maharashtra remains the frontrunner for project registrations—of all projects registered under RERA to date across 34 states and 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.
According to the report, so far, 34 states/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 very recently struck down West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) stating that it overlaps with RERA that was enacted a law in the Parliament.
30 States/UTs have already set up a Real Estate Regulatory Authority since implementation, and of this at least five are interim. Jammu and Kashmir, Ladakh, Meghalaya and Sikkim have also notified their RERA rules but are yet to establish Authorities.
28 States/UTs have set up Real Estate Appellate Tribunal for disposing of consumer complaints, including six as interim. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram and Sikkim are still underway to establish theirs.
Regulatory authorities of 27 States/UTs have operationalised their websites under RERA provisions. Arunachal Pradesh, Assam and Manipur are under process to operationalise.