The Narendra Modi-led Central Government informed the Supreme Court that the RERA Act [Real Estate (Regulation and Development] has been implemented pan India as the Law is notified in 30 States and Union Territories. This Act is introduced in 2016 by the same Government to protect the interest of homebuyers in the country.
While replying on the query raised by the Supreme Court the Central Government informed that 42,726 housing projects and 33,906 real estate agents have been registered under the 2016 Act and over 20,000 issues have been resolved under the Act till now.
According to the data compiled by the Union Ministry of Housing and Urban Affairs shows that the rules notification process under the RERA Act is currently going on in Arunachal Pradesh, Meghalaya, Nagaland and Sikkim. The data also shows that 29 states/UTs have formed the Real Estate Regulatory Authority and 22 States/UTs have set up the Real Estate Appellate Tribunal.
Maharashtra is the top state to register projects under the RERA Act as over 21,000 projects have come under the law. Following this State is Gujarat and Uttar Pradesh where 5,751 and 2,673 projects have been registered as per the RERA Act respectively.
The RERA Act is not applicable Jammu & Kashmir, however, the state has notified its own legislation. Similarly, West Bengal has also not implemented RERA but introduced another Act named West Bengal Housing Industry Regulation Act, 2017.
Earlier in June, Anil Baijal, Lt Governor recently launched the online portal for Delhi RERA. On this occasion, he said that the portal will not only make the process transparent but will also make the real estate sector accountable.