While it leads in terms of disposal of cases, UP has seen the lowest growth of 22% in project registrations in the past three years. In October 2019, the state had approx. 2,710 registered projects while the current number stands at approx. 3304 projects, indicating that the primary focus in UP has been on project completions rather than new launches.
After three years since its implementation, RERA is becoming the force it was envisioned to be - especially in disposing of consumer complaints across different states and UTs. As many as 48,556 cases were disposed of by the respective state authorities as of July 2020
Anuj Puri, Chairman – ANAROCK Property Consultants
- Maharashtra still leads with 20,718 projects & about 19,699 RERA-registered real estate agents
- Gujarat comes second – 5,317 RERA-registered projects & 899 registered agents and agencies
- Karnataka – 2530 projects & about 1342 RERA-registered real estate agents; Andhra Pradesh – 307 RERA-registered projects
- West Bengal the only state with its own real estate law WBHIRA
It’s been two years since the deployment of the Real Estate Regulatory Authority (RERA) across the country and the Centre’s aim to enforce it in each state is gathering visible momentum.
Even the north-eastern states including Manipur, Meghalaya, Mizoram, Nagaland, and Sikkim – which earlier shied away from it – have agreed to officially notify RERA rules soon.
West Bengal is the only state which notified its own real estate law under West Bengal Housing Industry Regulatory Authority (WBHIRA).
It may be recalled that RERA intended to cover developers as well as real estate agents seamlessly across the country.
As it stands now,
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