The state which resolved the most home buyer complaints is the most sluggish when it comes to RERA registrations
- Real Estate Regulatory Authority or RERA was put in place by the government to bring accountability and transparency to the sector.
- The number of projects registered under RERA went up by 109% in the last three years, says Anarock.
- Authorities have disposed of one lakh cases filed under the various state iterations of RERA, as on 8 October 2022.
AdvertisementSix years after the Indian government passed the RERA Act, it has made remarkable progress in addressing consumer complaints in real estate, as per Anarock. In the last three years of the pandemic, the number of projects registered under RERA went up by 109% to 94,513 projects, a report by the real estate services firm, says.
Real Estate Regulatory Authority or RERA was put in place by the government to bring accountability and transparency to the sector, and help reduce project delays and property fraud.
“At the end of the day, RERA still lacks sufficient execution powers – a fact which the Supreme Court has also expressed apprehensions over. Meanwhile, the pandemic did not break the pace of project and real estate agent registrations over the last three years,” says Anuj Puri, chairman of Anarock Group.
Jharkhand highest growth in
The states with maximum project registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu. Together, these states account for a significant 83% share of RERA-registered projects.
Maharashtra tops the list with around 38,229 project registrations, the Anarock report says.
Two North states also differ in terms of growth in RERA registrations. While Jharkhand saw a spectacular three-year growth of 855%, UP growth is the lowest at 22%.
Tamil Nadu recorded a 828% jump in the period, coming next only to Jharkhand.
Meanwhile, registration of real estate agents under RERA has risen by 95% in the last three years. Here too, Maharashtra too retains its numero uno position.
1 lakh disputes resolved
As per data from the Ministry of Housing and Urban Affairs, the authorities have disposed of one lakh cases filed under the various state iterations of RERA, as on 8 October 2022. Of these, approximately 72% cases or 72,979 complaints – were resolved in the last three years.
Haryana comes a distant second, but MahaRERA too disposed of 12,507 cases – that’s much less than UP.
Puri says that RERA has been visibly fulfilling one of its key functions – resolving homebuyer grievances.
“As per official data from MoHUA, RERA authorities have addressed more than a lakh consumer complaints. While this is impressive, it is also true that there remains a big question mark with regards to 100% resolution,” Puri said.
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