HYDERABAD: While Maharashtra takes the first place when it comes to the proactive Real Estate (Regulation and Development) Act adoption, implementation and integration, followed by Uttar Pradesh, Gujarat, Madhya Pradesh and Karnataka, Telangana, where the Act was notified a year ago, lags behind—shows the latest report published by a real estate consultant.
In Telangana, the Act was notified in August, 2017, but the RERA web portal is not operational yet. There are more than 32,306 projects and 23,111 real estate agents registered under RERA in the country.
The web portal, according to Municipal Administration and Urban Development (MAUD) department principal secretary Arvind Kumar, is expected to become operational from September 1. Trial runs of the web portal are being carried out over the past few weeks while the RERA office is being built at AC Guards in the city, said Kumar.
According to the report, dilution of the act in a way that favours developers is a major concern in many states across the country.
“Introduction of exceptions to dilute the definition of ‘ongoing’ projects, penalty provisions related to imprisonment of developers, calculations on monetary fines or penalties as a percentage of project cost, payment schedule requirements, norms for escrow withdrawals, liability in case of structural defects and fees on filing complaints against the developer are a few areas where dilution has been noticed in states that have notified and tried to implement the RERA,” said Anuj Puri, chairman of Anarock property consultants, which published the report.
RERA, aimed at promoting transparency, efficiency, financial discipline and accountability in the real estate sector came into force in May 2017. Maharashtra, with 17,353 RERA-registered projects, leads the pack among states and Union Territories (UTs) in India.
Source from : https://timesofindia.indiatimes.com/city/hyderabad/telangana-lags-behind-others-in-rera-adoption/articleshow/65497619.cms