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Even After One Year of RERA, 14 States Don’t Have Online Portals

Courtesy/By: Bharat Talreja | 28 Apr 2018

It has been almost a year for the implementation of the Real Estate Regulation (and Development) Act, 2016, in the country, after all its sections became law on May 1, 2017. Of the 28 states (the act is not applicable in J&K) where the act is to be enforced, only three have appointed a permanent regulator, only 14 states have functional web portals, and only 20 states have notified the rules. All seven Union Territories, however, have notified the rules.

The states of Maharashtra, Madhya Pradesh and Punjab have appointed permanent regulators under RERA and all other states where it is being implemented are functioning with interim designated regulators. To enable customers to easily access project information, RERA says all states must maintain a web-based portal where all developers will upload project information. But states like Haryana, Assam, Kerala, Telangana and Orissa do not have these portals. Even in state where web-based portals have been launched, the information uploaded by developers is so scanty that it is practically of no use.

Poor implementation of RERA in various states has had an adverse effect on the revival of the realty sector. Das said Maharashtra has witnessed a revival in demand for real estate following the proper implementation of the act. Proper implementation encourages investment in real estate as it brings transparency to the sector.

Courtesy/By: Bharat Talreja | 28 Apr 2018