5th Anniversary of RERA-Massive Number of brokers register with RERA
RERA was enacted in the first week of 2016. In its five years of existence, we look at how it has done so far:
-As many as 30 states/UTs have established Real Estate Regulatory Authority. Meghalaya, Jammu & Kashmir, Ladakh and Sikkim have notified the RERA rules but are yet to set up authority.
-As many as 28 states/UTs have even established Real Estate Appellate Tribunal. The states of Arunachal Pradesh, Mizoram, Meghalaya and Sikkim are in the process to establish it. Jammu & Kashmir and Ladakh are also in the process of setting it up.
-As many as 27 states and UTs have operationalized their websites as per the provisions of RERA.
-As many as 65,539 complaints of property buyers have been solved/disposed-off by the RERA authorities across the country so far.
-As many as 63,583 realty projects have been registered under RERA in the country. About 50,256 agents/brokers have been registered so far.
-The state of Uttar Pradesh has disposed off maximum complaints so far. It has disposed off 26510 complaints as of 24 April, 2021. This is followed by Haryana with 13,269 cases disposed off. It is important to note that Haryana has two regulatory authorities- one for Gurugram and another for rest of Haryana. This is followed by Maharashtra with 9265 complaints disposed off so far.
-The states of Tamil Nadu, Karnataka and Andhra Pradesh have disposed off 1,408, 2,905 and 157 cases respectively.
All of the above data is sourced from central governemnt website.