Government to set up panel with an objective of making Rera more effective and impactful on non-compliance

The decision to setup a panel for RERA to be more effect was taken in the recent meeting of the Central Advisory Council (CAC). The government may also seek inputs from the state governments in this matter to make RERA more effective and offering an impactful recourse mechanism to homebuyers.

Government to assess the reasons for non-compliance of orders issued by various chapters of the Real Estate Regulatory Authority (Rera). The idea of RERA was to ensure protection to distressed homebuyers. A committee including homebuyers and realty developers will be formed to examine different orders that have been passed by the state-specific authorities, but have not been complied with yet.

The decision to setup a panel for RERA to be more effect was taken in the recent meeting of the Central Advisory Council (CAC). The government may also seek inputs from the state governments in this matter to make RERA more effective and offering an impactful recourse mechanism to homebuyers.

While RERA authorities are issuing orders for compensation and interest to homebuyers by the developers, many of these orders are not being complied with. Homebuyers and their associations have been raising concerns over non-enforcement of these orders, and the authorities have been facing criticism.

“Despite the orders getting served, homebuyers are left in the lurch as the enforcement of these orders is taking unreasonable time. The Housing Minister himself suggested this move to form a committee to study the procedure followed by states that rank high in enforcement of RERA orders,” said Abhay Upadhyay, president, Forum for People’s Collective Efforts. He said this will lead to a template for other states to follow so that RERA orders see faster execution.

The government has also decided to form a committee comprising government representatives, homebuyers and developers to take up the issue of implementation of RERA in West Bengal and Telangana.

Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram

#rera #properties #investment #investors #government