RERA’s reach: Around 20,000 real estate projects registered – See Maharashtra, Noida, Gurgaon details

By: |
New Delhi | Published: January 10, 2018 5:49:12 AM

Around 20,000 projects across the country have been registered under the Real Estate (Regulation and Development) Act, a senior housing and urban affairs ministry official said.

rera registered project, registered projects under rera, total rera projectsOf the total number of projects registered, as many as 12,000 are in Maharashtra, one of the first states to implement the Act, the official added.

Around 20,000 projects across the country have been registered under the Real Estate (Regulation and Development) Act, a senior housing and urban affairs ministry official said. Of the total number of projects registered, as many as 12,000 are in Maharashtra, one of the first states to implement the Act, the official added. In UP, around 2,000 projects have been registered, with Gautam Budh Nagar and Noida together accounting for over 1,000. “While in Haryana, nearly 400 projects have been registered, states such as Karnataka, Gujarat, Rajasthan and Andhra Pradesh have progressed well too…they also have a decent number of projects registered under RERA,” the official said. Many states have diluted the Act and have kept most of the ongoing projects out of its ambit. Telangana has kept projects commenced before January 2017 out of RERA. Similarly, states like UP and Haryana have allowed projects to be out of RERA even if the builder has applied for completion certificate while in Karnataka, all projects that are 60% complete have been kept out of the Act. Many states have kept most of the ongoing projects out of the ambit. This needs to be corrected. So, when they rectify it, more and more projects will come under it, the official said.

The Centre has already warned states against diluting the rules of RERA and has said that it may attract legal challenge. After the Bombay HC ruling, minister of housing and urban affairs Hardeep Singh Puri had said state governments will now have no scope to loosen the regulation by either keeping ongoing projects out of RERA or defining them in their own convenient ways. “They (states which have diluted the law) will have to comply. I have already taken it up with them,” Puri had said. “We are hopeful that the government will take cognisance of the matter this year and seriously intervene in the matter to ensure RERA implementation in letter and spirit,” Abhay Upadhyay, national convener of pan-India homebuyers group Fight For RERA said.

The Act that came into effect from May 1 has been a ray of hope for homebuyers who are stuck with delayed projects. The Act had a slow start this year. Till date, 26 states/UTs have notified their rules, 6 states/UTs have formed permanent authority, 1 state has formed permanent Appellate Tribunal, 13 states have formed web portal and 20 states have formed interim Authority and 10 states have interim appellate tribunal.

Do you know What is Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey, State Finance Commission? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.