TN sees 8-fold rise in RERA registrations over 3 yrs

MUMBAI: Deepavali 2022 will set to establish new benchmarks for the housing sector on several fronts, and even now it is evident that the festival eclipses all previous years on at least one front – market transparency and customer-centricity. After more than five years since its implementation, RERA has made remarkable progress in addressing consumer complaints across different states and UTs.

Data available with the Ministry of Housing and Urban Affairs indicates that so far, 1,00,949 cases filed under the various State iterations of RERA have been disposed of by these authorities as of 8 October 2022. Of these, approx. 72% cases (72,979 complaints) were resolved in the last three years, which include the COVID-19 pandemic.

Taking the lead over previous torchbearer MahaRERA, Uttar Pradesh’s UP RERA saw as many as 40,559 cases disposed of by so far - against a mere 11,596 cases in October 2019. Haryana comes a distant second with approx. 20,539 cases disposed of, against just 2,480 cases in the corresponding period of 2019. MahaRERA has so far disposed of approx. 12,507 cases.

Anuj Puri, chairman, Anarock Group, says, “Still nowhere close to saturation effect but showing ‘real‘ progress, the Real Estate (Regulation and Development) Act has been visibly fulfilling one of its key functions – resolving homebuyer grievances. As per official data from MoHUA, the respective RERA authorities of various state and UTs have addressed more than a lakh consumer complaints.”