The Center intends to establish a common online platform for Real Estate Regulatory Authority (RERA) of all states and UTs.

By Abhay Shah, Realty Quarter

In order to provide home buyers, developers and officials with an opportunity for the exchange of opinions, the centre has intended to create a common online platform for the Real Estate Regulatory Authority (RERA) in all states and UTs.

Housing and Urban Affairs Secretary Durga Shanker Mishra announced here the Government’s strategy and said that the real estate legislation will become stronger with this platform.

According to the Real Estate (Regulation and Development) Act 2016, all states must compensate their respective real estate regulator RERA which ensure that their house buyers are properly protected.

“We are working on the establishment of a common platform in which RERA can exchange views from all states and Union Territories (UTs), which will enable RERA to be stronger,” he said.

Under the Pradhan Mantri Awas Yojana (Urban) rules, the ministry states that, if the property project is not recorded under the RERA, the customer will not benefit from the Credit-Linked Subsidy Scheme (CLSS). A home-buyer can benefit an interest subsidy of up to 2.67 lakh under PMAY (U).

Later on, Mishra informed reporters that any state RERA could study the order of other states on the online platform in a specific case. Home buyers and developers can also comment on this.

In addition, the Secretary stated that more than 42,000 projects have been registered under RERA to date, and more than 32,000 real estate agents have been registered under the RERA for the fourth anniversary of PMAY (U), AMRUT and the Smart City Mission.

Housing and Urban Affairs Minister Hardeep Singh Puri, on the other hand, said that “a huge distinction has been created everywhere that the central real estate law is being enforced.”

RERA is a real estate regulator and offers home buyers a chance to lodge their complaints against builders, said Puri.

Mishra said 30 states and UTs have informed RERA but the West Bengal informed its own real estate regulatory authority known as Housing and Industrial Regulation Act 2017,(HIRA).

In July last year, instead of enforcing the Real Estate (Regulation and Development) Act promulgated by the Parliament, the Ministry sought the Law Ministry over West Bengal.