The RERA law created to regulate the real estate market across India that came into effect in 1st May 2017, is yet to be completely adopted in all the states.
RERA states that every state and union territory should set up a regulator to register all real estate projects that are being marketed to the general public. Though the central government made it mandatory for all states and union territories to set up a regulator by May 2017 and complete registration of new and ongoing real estate projects by 31st July, not all states have followed the Centre’s directive.
Implementation status of RERA across all states
The Housing and Urban Affairs Secretary Durga Shankar Mishra sent out an official statement to all states and union territories on 21st July that stating that the inability of their governments to set up regulatory authorities or appellate tribunals will adversely affect all real estate transactions carried out after 31st July 2017.
This strong statement was issued because though 21 states and union territories have notified the rules, only 19 of them have set up required regulatory bodies to carry out the registration process.
Steps by Housing and Urban Affairs Ministry (HUA) to make RERA implementation easy
As several states had complained that they do not have the necessary funds and technically competent staff to set up a website for online registration of real estate projects, especially in remote areas with little access to the Internet, the HUA Ministry has also stated that registration can be done offline. But if states do not have an appellate tribunal in place along with required regulations, then it will lead to delays in adjudication of disputes in this sector.
The Ministry has stated that it has shared the source code of creating a model website as required by RERA with all the states and union territories. States that have not set up a permanent regulatory authority or a functional website till date should immediately set up an interim regulator and start manual registration of real estate projects on the basis of information provided through hard copy applications.
Mishra has stated that though online registration of projects and agents is preferred, new projects need not be registered for a year from the date of their commencement. He stated that under no circumstances should the process be delayed and all states and union territories should set up a regulatory tribunal to ensure that the RERA is immediately implemented.