Project and real estate agent registrations under RERA have also been growing steadily. As of 24 April 2021, nearly 63,583 projects and 50,256 real estate agents have been registered under RERA across the country. Back in the corresponding period in 2019, about 40,155 projects and 29,208 real estate agents were registered. This amounts to an increase of 58% and 72% respectively over the last two years.
Anuj Puri, Chairman – ANAROCK Property Consultants says, “One of RERA’s primary purposes is to address real estate consumers’ grievances. As such, the fact that the RERA authorities of various states and UTs have resolved over 65,539 consumer complaints in the last four years is noteworthy.”
“Uttar Pradesh has resolved the highest number of cases, which is again notable considering how severely Noida and Greater Noida in UP had been impacted by shady dealings of unscrupulous players.”
Maharashtra remains the frontrunner for project registrations – of all projects registered under RERA to date across 34 states/UTs, Maharashtra accounts for a 45% share. Gujarat comes next with a 13% share, followed by Madhya Pradesh and Karnataka with about 6% share each, and Uttar Pradesh with a 5% share.
Progress of RERA across India
- So far, 34 States/UTs have notified rules under RERA. The North Eastern State of Nagaland is still under process to notify its rules while West Bengal enacted its own legislation that was challenged by the MoHUA before the Supreme Court. However, in a major development, the apex court very recently struck down West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) stating that it overlaps with RERA that was enacted a law in the Parliament.
- 30 States/UTs have already set up a Real Estate Regulatory Authority since implementation, and of this at least 5 are interim. Jammu and Kashmir, Ladakh, Meghalaya and Sikkim have also notified their RERA rules but are yet to establish Authorities.
- 28 States/UTs have set up Real Estate Appellate Tribunal for disposing of consumer complaints, including 6 as interim. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram and Sikkim are still underway to establish theirs.
- Regulatory authorities of 27 States/UTs have operationalized their websites under RERA provisions. Arunachal Pradesh, Assam and Manipur are under process to operationalize