Real Estate Regulatory Authority (RERA) have resolved as many as 116,300 cases related to homebuyers since the enactment of the Real Estate (Regulation and Development) Act, 2016, according to data from the ministry of housing and urban affairs. As of November 28, 2023, Uttar Pradesh has resolved 38% cases (about 44,602 complaints), followed by Haryana with 20,604 cases (18%) and Maharashtra with 15,423 cases (13%), according to a report by Anarock Property Consultants on Friday.
The three states account for nearly 69% of the total disposed cases. Over 116,117 projects and 82,755 real estate brokers nationwide were registered under RERA as of November 28, 2023. RERA, during the two years, saw a surge of 63% in project registrations and 47% growth in the registered real estate agents, the report read. About 71,307 projects and 56,177 real estate agents were registered over the same period in 2021.
“Resolving homebuyer concerns is one of the main functions of the Real Estate (Regulation and Development) Act, which it has been demonstrably fulfilling,” says Anuj Puri, chairman, Anarock Property Consultants said. “More than 116,000 consumer complaints have been handled by the various state and Union territories’ RERA bodies, according to official data from the ministry of housing and urban affairs. Over the previous two years, the pace of project and real estate agent registrations have also risen,” Puri stated.
“Uttar Pradesh has resolved the highest number of cases. Considering how severely Noida and Greater Noida in UP had been impacted by unscrupulous players, this is noteworthy, he added. 32 states/UTs have notified rules under RERA except, Nagaland, Meghalaya, Ladakh and Sikkim are yet to establish RERA. West Bengal earlier enacted its own legislation over real estate which was challenged on this by the Central government before the Supreme Court.
In March 2022, the apex court struck down the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA), stating that it overlapped with RERA. Meanwhile, 28 states/UTs have set up Real Estate Appellate Tribunal for disposing of consumer complaints, including 4 as interim. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram, Nagaland, West Bengal and Sikkim are working over to establish theirs, the report stated.