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Thursday, July 25, 2024

RERA Resolves Over One Lakh Homebuyer Complaints Across States

The Real Estate Regulatory Authorities (RERA) in various states have successfully resolved more than 1,16,300 homebuyer complaints until November of the current year, as per data from the Ministry of Housing and Urban Affairs. Uttar Pradesh accounted for the highest percentage, resolving approximately 38% of cases (44,602 complaints), followed by Haryana with 20,604 cases (18%) and Maharashtra with 15,423 cases (13%). These three states collectively addressed nearly 69% of the total cases resolved under RERA nationwide.

Project and real estate agent registrations under RERA have shown a steady increase, with a total of 1,16,117 projects and 82,755 real estate brokers registered as of November 28, 2023. This marks significant growth compared to the same period in 2021, with a 63% increase in project registrations (71,307 projects) and a 47% increase in real estate agent registrations (56,177 agents) over the past two years.

Anuj Puri, Chairman of ANAROCK Group, commented, “More than 1.16 lakh consumer complaints have been handled by the various state and union territories’ RERA bodies, according to official data from MoHUA. Over the previous two years, the pace of project and real estate agent registrations was not slowed down. In fact, over the past two years, project registrations have increased dramatically by 63%. Also, the RERA authorities of various states and UTs have resolved over 37,397 consumer complaints in this period.”

Maharashtra leads in project registrations under RERA, constituting 36% of all registered projects across 34 states and UTs. Tamil Nadu follows with a 16% share, and Telangana and Gujarat have shares of approximately 7% and 11%, respectively.

Almost all states and UTs have notified rules under RERA, with Nagaland still in the process, and West Bengal facing challenges before the Supreme Court. The Supreme Court, in March 2022, struck down the West Bengal Housing Industry Regulation Act, 2017, stating its overlap with RERA.

Since its implementation, 32 States/UTs have established a Real Estate Regulatory Authority, and 28 have set up a Real Estate Appellate Tribunal for handling consumer complaints. Regulatory authorities of 30 States/UTs have operationalized their websites under RERA provisions, and 26 have appointed adjudicating officers. However, 10 States/UTs are yet to appoint adjudicating officers.

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