All states and Union Territories in India have notified the Real Estate (Regulation & Development) Act (RERA) barring Nagaland, minister of state for housing & urban affairs Kaushal Kishore told the Lok Sabha in a written reply on March 23, 2023.
As on March 13, 2023, 32 states/UTs have set up real estate regulatory authorities and 28 states/UTs have set up real estate appellate tribunals.
A total of 1,01,304 housing projects and 72,012 real estate agents have been registered under the provisions of the RERA. Also, 1,06,657 complaints have been successfully disposed of by the RERA authorities across the country so far, the minister said.
“To protect the interest of homebuyers and to ensure transparency and accountability in the sector, Parliament has enacted the Real Estate (Regulation and Development) Act, 2016 (RERA). Under the provisions of the RERA, the RERA authority is required to register and regulate real estate projects and real estate agents,” he said in the statement.
“On lapse or revocation of the registration under the RERA, the authority is empowered to take action for carrying out the remaining development works of the project by competent authority or by association of allottees,” he added.
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