Central Advisory Council Advances RERA Reforms

In New Delhi, the 5 th Meeting of the Central Advisory Council (CAC) under the Real Estate ( Regulation and Development ) Act, 2016 (RERA) in eight years of the RERA implementation took place . The conference reflected on the best developments made in the sector and presented some of the main reforms such as the introduction of Unified RERA Portal , which is aimed at increasing the level of transparency and simplifying the process of operations in the States and Union Territories.

Eight Years of RERA: Intensifying the Real Estate Regulation.

After its implementation in 2016, RERA has altered the environment in Indian real estate , protecting the interests of homebuyers and increasing the accountability of the sector.

• States and UTs have formed their own Real Estate Regulatory Authority in 35 States .
• Some of the States have also constituted the Appellate Tribunal and appointed Adjudicating Officers .
• It has currently registered more than 1.5 lakh real estate projects and 1 lakh agents.
• Nearly 1.5 lakh consumer complaints have been dealt with by authorities, which demonstrates the use of RERA in the resolution of grievances.

Introduction of the Unified RERA Portal.

One of the key news of the meeting was the introduction of the Unified RERA Portal (rera.mohua.gov.in) by the Union Minister of Housing & Urban Affairs.

This is the centralised digital platform that seeks to:

• Integrate the information at the State-level RERA portals.
• Construct a national database on projects that are easily accessible to buyers and developers.
• Identify the project delays with AI tools and mitigate the risk of stalled developments.

The portal will raise trust and transparency , thus allowing buyers to make informed decisions.

Addressing Stalled Projects and Legacy Problems.

Another issue the Council looked at was the means of dealing with projects that have been stalled or delayed which has always been a problem in the field.

• Amitabh Kant led committee recommendations were discussed.
• These measures were successfully adopted in Uttar Pradesh and other States are encouraged to follow suit.
• Few suggestions are SoPs (Standard Operating Procedures) to be more stringent and expedited completion of projects.rec

The buyers and the developers will take confidence from the project’s timely delivery.”

Increasing Regulatory Efficiency.

The following questions were raised in the session:

• Slowness in registration of projects .
• Delays in local authority approvals .
• Defaulting on RERA orders in others.

The Council suggested: