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Report says 71,307 projects registered under Rera till date

Maharashtra, Gujarat, and Karnataka lead in Rera-registered projects till date with 31,664, 9,272, and 4,497 projects registered, respectively. (Photo: Mint)Premium
Maharashtra, Gujarat, and Karnataka lead in Rera-registered projects till date with 31,664, 9,272, and 4,497 projects registered, respectively. (Photo: Mint)

  • All states/UTs have notified rules under Rera except Nagaland. 30 states/UTs have set up a Real Estate Regulatory Authority. Jammu & Kashmir, Ladakh, Meghalaya, Sikkim and West Bengal have notified rules but are yet to establish authorities

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NEW DELHI: As many as 71,307 projects across the country have been registered under The Real Estate (Regulation and Development) Act (Rera) as of November, in about four and a half years since it was fully notified, according to ANAROCK Property Consultants.

Maharashtra, Gujarat, and Karnataka lead in project registrations till date with 31,664, 9,272, and 4,497 projects registered, respectively.

In terms of grievance redressal of aggrieved homebuyers, as many as 78,903 cases have been disposed of so far by regulatory authorities of states and union territories (UTs). Uttar Pradesh and Haryana have disposed of the highest number of cases, accounting for about 61% share of total disposed cases. Uttar Pradesh saw 30,990 cases disposed of, and Haryana nearly 16,864, as per the latest progress report released by the Ministry of Housing and Urban Affairs, ANAROCK said in a report.

Recently, the Supreme Court upheld the jurisdiction of the Real Estate (Regulation & Development) Act, 2016, on all realty projects that were ongoing and had not received completion certificates until the law came into effect. This means that states that had diluted the provisions and not included many under-construction projects under Rera ambit are now expected to do so.

“Anuj Puri, chairman, ANAROCK Group, said, "Rera rules had been diluted in many states and many under-construction projects not completed at the time of Rera’s implementation did not come within its ambit. Through this verdict, the court has given more powers to Rera, and it now covers such under-construction projects as well."

"As a result, we may see increased residential project completions in the times to come. Many developers with under-construction projects outside Rera had focused their resources on projects that did come under its ambit. This is no longer an option. The number of heavily delayed and even stalled units is likely to reduce. As per ANAROCK data, as of July 2021, nearly 6.29 lakh housing units launched in 2014 or before were incomplete or stalled across the top 7 cities."

As per the latest data, all states/UTs have notified rules under Rera except Nagaland, where it is under process, while 30 States/UTs have set up a Real Estate Regulatory Authority (Regular 25 and interim five). Jammu & Kashmir, Ladakh, Meghalaya, Sikkim and West Bengal have notified their rules but are yet to establish their authorities.

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