Supreme Court demands the government to submit a list of states where the RERA act is not been enacted completely.

By Abhay Shah, Realty Quarter

On 18 July, the Supreme Court demanded the Government to provide a list of states where there is no RERA Authority and the appellate tribunal been formed. The Apex court heard a case concerning the constitutional challenge brought against the right of the financial creditors to home buyers by a slew of real estate developers under the code of bankruptcy and insolvency.
The Court was notified that the RERA was still not enacted or properly implemented by lawyers representing homebuyers in numerous States.
After reviewing the cases, the bench of justices, Rohinton Fali Nariman, Sanjiv Khanna and Surya Kant, took the moto cognisance, ordering the additional solicitor general (ASG), who was assigned to provide a list of states in which RERA authority, Appellate Tribunal has not been set up and Adjudicating officer was not yet designated, stated Aditya Parolia, who is representing more than 300 homebuyers in the case.
It was also observed that public officials were momentarily appointed in several states. The Supreme Court also demanded that a list should be submitted by 23 July for all such states. The court also observed during hearing the arguments that the Central Act in many states was not followed in the way it should be, it said. Several states have proxy authorities, which have not been established in some States, he said. In some states, a tribunal has not been set up.
In the context of insolvency and bankruptcy code, over 100 developers have called into question the constitutional legitimacy of financial creditor rights granted to homebuyers. Pioneer Urban Land and Infrastructure filed the case on March 2019. Developers like BPTP, Supertech, Today Homes Noida, Ireo, CHD Developers, ATS etc; have filed a comparable writ.