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Documentation on RERA’s functioning

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Two years have passed since the Real Estate (Regulation & Development) Act, 2016, gained activation however; a variety of sectors of the law became effective on May 1, 2017. – PowerPoint PPT presentation

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Title: Documentation on RERA’s functioning


1
Documentation on RERAs functioning
  • Two years have passed since the Real Estate
    (Regulation Development) Act, 2016, gained
    activation however a variety of sectors of the
    law became effective on May 1, 2017. Development
    is still ongoing for the infrastructure required
    for the effective function of the reformatory law
    known as RERA, which is intended at uplifting
    Indias real estate sector of its many defaults.
    On the other hand property in Kolkata is register
    with HIRA. In some instances, states have not
    been able to set up the online portal which they
    were supposed to for the assistance of the
    homebuyers.
  • States Involved With RERA
  • Andhra Pradesh The APRERA has 328 registered
    projects and 48 agents in the month of May 2019.
    The online portal of Andhra Pradesh is completely
    functional. In the month of May 2019, the APRERA
    has refused the registration of 20 projects. The
    APRERA has also achieved an award for exemplary
    online service from the government.
  • Assam The regulations have recently been
    notified to this state

2
Bihar The online portal of Bihar RERA is also
running and functioning completely. In the month
of February 2019, 51 builders were given notices
and it was decided that a penalty of Rs 10 lakh
will be charged for breaching the rules. The list
of defaulters has been updated on the website for
providing information to the buyers. Chhattisgarh
Chhattisgarh has received 847 applications for
project registration. This states portal is
still under construction. Goa Goas RERA has
gone online, but the information provided is very
little. Gujarat In the month of May, 2,687
residential projects and 1,038 affordable housing
projects have registered. The Gujrat portal
provides a city-wise division of registered
projects. Gujarat has the 2nd highest project
registrations. The online portal is complete and
is working fine. Haryana HRERA has registered
about 301 projects and 714 agents. Even HRERA is
one of the majorly active in India. Himachal
Pradesh Even though the authority does not have
a chairman HPRERA has 29 registered projects on
its online portal. Karnataka About 2,551
projects and 1,724 promoters/agents have been
registered with KRERA. Even with a huge success
KRERA fails to provide copies of the complaints
made on the website. Kerala Kerala had got its
state regulator in 2017, but it was repealed
through an ordinance citing dilution of the
Central Act. Kerala has done its part in
notifying its rules but doesnt have a
ready-to-use portal. Madhya Pradesh The state
has a fully-functional RERA. A total of 2,180
projects and 541 agents are registered on the
portal. The MPRERA website also claims to have
disposed of 1,845 complaints so far.
3
Maharashtra The Maha RERA is often applauded by
the industry experts and stakeholders. This RERA
is the most dynamic portal among the state
regulators that has the highest number of
registration of projects. In the month of May,
79 of the projects from across Maharashtra have
been registered. Whereas the agents and promoters
registration are up to 99.7 which is again the
highest in the country, on the other hand, 64
unjust act was updated in the portal this
far. Odisha Even though RERA is notified in this
state the portal has not yet begun. Punjab
Punjab RERA portal has registered 678 projects
and 1,026 agents with the complete and running
portal of the state. Rajasthan In March 2019,
the chairman of Rajasthan RERA was appointed and
the appellate tribunal was set up. Till now 984
projects and 870 promoters/agents have been
registered online. Tamil Nadu Tamil Nadu RERA
has a registration of 965 projects in the state.
All the vital information is updated on the
online portal making this the fourth largest
state with RERA registration. Uttarakhand UKRERA
has 235 registered projects yet on the full
functioning portal. This state also has an
updated portal with all the information available
online. Uttar Pradesh The UPRERA is also
planning to take up stacked projects for the sake
of homebuyers. The portal is fully functioning
and has received about 4,850 complaints. It has
also set up three benches to deal with the
complaints in a timely manner. West Bengal West
Bengal has its own regulator by the name, the
Housing Industry Regulatory Authority (HIRA). Due
to turmoil between the state and the Centre, RERA
has not been notified here. Liyaans Properties
offers HIRA registered flats in Kolkata. Sikkim,
Meghalaya, Manipur, Mizoram, Tripura, Telangana,
Arunachal Pradesh, Arunachal Pradesh, and
Nagaland have not notified the rules till now.
The Union Territories
4
Andaman Nicobar Andaman Nicobar-based
project has only registered one project till May
2019 on the Tamil Nadu Real Estate Regulatory
Authority portal, which is also the platform for
managing projects for Andaman and
Nicobar. Chandigarh The Chandigarh RERA portal
is working, but the information is scarce.
Records related to project registration and
wrongdoers are missing. Dadra Nagar and Daman
Diu These two falls under the Maharashtra RERA,
and have a fully active RERA under its
nobility. Delhi Authorities have formed after
the notification of the regulation however the
portal is not updated on. Lakshadweep There
isnt a dedicated portal yet but the UT has been
notified about the regulation. Puducherry The
notification of the regulation has reached them
but even they do not have a portal as of
yet. The forthcoming Problems Leaving aside the
primary problems like proper infrastructure
functioning of RERA is missing in many states
there is also numerous hurdle before the
regulation has been awarded complete success.
This sector encountered consolidation and
development withholding after RERA. On the other
hand, the government is encouraging various
propositions the promotion of affordable housing
for the consumers. Notwithstanding is a deduction
in terms of the fund, as the cost of receiving
permission is still very high and defiantly needs
rationalization for proper implementation of the
plan. . After the introduction of the law, the
system has rather become complicated for the
newcomers to enter the market. Building up
business for young entrepreneurs has become
difficult. The board is set for organized players
who have a taste of the market. Nevertheless, the
young crowd just could not come and start off and
pave a way up
5
, for anything they should build something in
terms of finance and most importantly compliance
of the team. However, the law has become
challenging for newcomers. Positive Aspects There
is no denial about the developments that have
taken its pace with the positives of this law.
Rather it is very early to pass a judgment
against the law. RERA implements plenty of facade
and order in the past two years. On arrival of
RERA issues like ground reality issues, problems
and challenges beating the sector are addressed
in a polished manner. On the set of the RERA law
marked major changes in the customer-vendor
agreements, for the same a lot of companies in
order to improve their skill sets using training
after RERA, however some outsourced the project
to a third party for better clarity. The customer
experience has gained priority after enforcement
of the law. Many companies started to train their
stuff, while few hired professional agencies to
manage customer relations, on the other hand very
few rehabilitated customer interface.
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