The government has constituted a committee, to suggest recommendations to strengthen the Real Estate (Regulation and Development) Act (RERA) and to remove difficulties in its implementation, an official said, on December 31, 2018. The decision to form the committee, to be headed by union housing and urban affairs joint secretary Shiv Das Meena, comes months after the ministry organised four workshops where stakeholders, including home-buyers, had given suggestions for effective implementation of the Act.
As of now, 28 states and union territories have notified the rules under the real estate law. “The ministry has formed a committee under its joint secretary Shiv Das Meena. The panel will look into the suggestions received at the four workshops on RERA and then, submit its recommendations to the ministry. The committee will also consider whether there is a need for changes under removal of difficulties of the central law’s clause,” the official told PTI. If needed, the committee may suggest amendments to the RERA, he said, adding that the panel will hold its first meeting on January 3, 2019.
The Government of India enacted the Real Estate (Regulation and Development) Act 2016 on 26th March 2016 and all its provisions came into effect, from May 1, 2017.
Developers have been given until the end of July 2017, to register their projects under RERA. Likewise, real estate agents, who also fall under its ambit, are still in the process of registering themselves. Several states still need to notify the rules under the Act and most importantly for buyers, developers/promoters need to register their projects under RERA.