State RERAs Resolve 48,556 Cases in 3 Years

IANS 14 July 2020

Investor Interest

The Real Estate Regulatory Authorities (RERAs) across states have resolved 48,556 cases since the implementation of the RERA Act in 2017.

Citing data from the ministry of housing and urban affairs, an Anarock report said that out of the total resolved cases, nearly 57% cases were resolved in the past one year.

"Uttar Pradesh takes the lead with as many as 18,509 cases disposed of by the UP RERA authorities so far, against a mere 5,989 cases a year ago. Haryana is at a distant second with nearly 9,919 cases disposed of currently as against 3,123 cases in the corresponding period of 2019," the Anarock report said.

Maharashtra's 'MahaRERA' has so far disposed of nearly 7,883 cases.

Anuj Puri, chairman, Anarock Property Consultants says: "One of RERA's primary functions is addressing real estate consumers' grievances. In a bit over three years since RERA implementation, the authorities of various states and UTs have resolved over 48,556 consumer complaints."

He added that project and agent registrations have also increased perceptibly in a year, by nearly 24% and 20% respectively.

The 24% growth in project registrations under RERA in a year pertains to around 43,208 projects by the end of July 2019 to nearly 53,364 projects as of date. The states with maximum project registrations currently include Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu.

Cumulatively, these seven states account for a significant 85% share with nearly 45,278 registered projects. Maharashtra tops the list with nearly 25,604 project registrations.

Interestingly, Uttar Pradesh has seen the least annual growth of five per cent in project registrations. In July 2019, around 2,676 projects were registered in the state and currently, the number stands at around 2,818 projects. Evidently, developers in the state were more focused on project completions than on new launches.

Among the top seven states, Telangana saw the highest yearly growth of 79% in project registrations -- from 1,064 projects in July 2019 to over 1,902 projects now. Tamil Nadu recorded a 54% yearly jump -- as on July 2019, the state has 1,064 projects registered which have increased to 1,635 projects this year.

In terms of agent registrations, there has been a 20% increase in a year—from 34,182 registered agents towards July-end 2019 to nearly 41,143 agents as of July 2020.

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

Comments

User

rakeshmodi14

6 years ago

It's all false & fake. My complained against builder Anand Dargar of Metro group, Mulund to Maharera is not solved still complained has not been uploaded on website only. They are hand in glove with builder. Builder not giving rents since 5 years & not passed the plan also in these 5 years. Demolished 5 years back by forcibly evicting me & my family from ownership flat. Not made any agreement. I don't know why Corona doesn't catch these people. Seems God has also on the side of these culprits??--Rakesh Modi 9819993972

kr.mayank

6 years ago

It's all fake claims by authorities. What is the benefit of disposing requests if builders aren't adhering to any order passed by RERA. I got order in my favor in March 2019 and Got refund order in June, 2019 however, no money returned or no further communication. I know many buyers those are just keeping RERA order but without any luck on getting money back..