RERA: Center to hold workshop with home-buyers, banks on November-15
What's the story
For effective implementation of the Real Estate Act, the Housing and Urban Affairs Ministry will hold a day-long workshop for home-buyers, bank representatives, builders and other stakeholders from northern states on November 15. The participants from the northern states, including Uttarakhand, Uttar Pradesh, Haryana, Himachal Pradesh, and Punjab, will discuss issues pertaining to the legislation of 2016, which provides proper protection to home-buyers.
The Act
Home-buyers can raise issues of flat delivery in workshop
The Real Estate (Regulation and Development) Act was enacted by Parliament and states were given powers to notify their respective rules and appoint regulatory authorities. According to the official, home-buyers can raise issues pertaining to delay in delivery of flats in the workshop. The legislation provides for the timely delivery of housing units by builders whose projects are registered under it.
Information
Permanent regulator appointed in various Indian states
Similar workshops had been organized in Pune and Chennai earlier. Till last month, 13 states and union territories have appointed a permanent regulator, while 14 have interim regulators. Kerala is in the process of setting up a regulator.
Projects registered
About 32,923 real estate projects have been registered under RERA
As many as 22 states and union territories have functional web portals under the law. As many as 32,923 real-estate projects have been registered under the legislation across the country. Also, 25,247 real-estate agents have been registered under it. The official said that barring West Bengal, six northeastern states, and Jammu and Kashmir, all states and union territories have been implementing its provisions.
Separate law
WB implementing its own act, HIRA, instead of central law
West Bengal has notified its own real state act, the Housing and Industrial Regulation Act, 2017 (HIRA), instead of implementing the central law i.e. Real Estate (Regulation and Development) Act. Housing and Urban Affairs Secretary Durga Shanker Mishra has earlier written to the state government asking it to repeal its own act as there is a central law on the same subject.