The Real Estate (Regulation and Development) Act (RERA), has gained massive traction ever since it was introduced in India, particularly in handling consumer complaints. According to the data from the ministry of housing and urban affairs (MoHUA), as of November 28, 2023, the relevant state authorities resolved up to 1,16,300 cases. Out of this, 38 per cent of the cases were resolved in Uttar Pradesh alone, followed by Haryana (18 per cent) and Maharashtra (13 per cent). The three states cumulatively accounted for nearly 69 per cent of the total disposed cases under RERA in the country.
Registrations for projects and real estate agents under RERA have also been increasing steadily. Almost 1,16,117 projects and 82,755 real estate brokers nationwide were registered under RERA as of November 28, 2023. Approximately, 71,307 projects and 56,177 real estate agents were registered over the same period in 2021. This represents a 63 per cent and 47 per cent growth, respectively, over the previous two years.
“Resolving home buyer concerns is one of the main functions RERA has been demonstrably fulfilling. More than 1.16 lakh consumer complaints have been handled by various state and Union territories. Over the last two years, the pace of project and real estate agent registrations has not slowed down. In fact, over the past two years, project registrations have increased dramatically by 63 per cent. Also, RERA authorities of various states and UTs have resolved over 37,397 consumer complaints in this period. 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,” said Anuj Puri, chairman, ANAROCK Group.
Almost all states and UTs have notified rules under RERA, except Nagaland. West Bengal, which earlier enacted its own legislation, was challenged on this by MoHUA before the Supreme Court. In March 2022, the apex court struck down the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA), observing that it overlapped with RERA. Thirty-two states and UTs have set up a real estate regulatory authority since its implementation, and of this at least 5 are interim. Ladakh, Meghalaya, Nagaland and Sikkim are yet to establish RERA.
Twenty-eight states/UTs have set up real estate appellate tribunal for disposing of consumer complaints, including four as interim. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram, Nagaland, West Bengal and Sikkim are yet establish theirs. Regulatory authorities of 30 states/UTs have operationalized their websites under RERA provisions. Arunachal Pradesh, and Manipur are under process to operationalise. Twenty-six states/UTs have appointed adjudicating officers, while 10 states/UTs i.e., Arunachal Pradesh, Bihar, Manipur, Meghalaya, Nagaland, Sikkim, Uttarakhand, West Bengal, Jammu and Kashmir, Ladakh are yet to do so.