RERA Archives

Tamil Nadu Sees 828% 3-year Jump in RERA Projects Registrations, UP Just 22%

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.

71,307 Projects Registered Under RERA Till Date, 78,903 Cases Disposed Across India

by Arun Chitnis

In the approx. 4.5 years since RERA was fully notified, 71,307 projects have been registered under it across the country as of November 2021. Maharashtra, Gujarat, and Karnataka lead in project registrations to date with 31,664, 9,272, and 4,497 projects registered respectively.

RERA Disposes of ~48,556 Complaints in 3 Years, 57% Resolved in Last One Year

by Anuj Puri

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

How RERA Is Revolutionizing Indian Real Estate

by Anuj Puri

The 14 spokes of RERA’s protective umbrella

Anuj Puri, Chairman – ANAROCK Property Consultants

The Indian real estate industry, particularly the residential sector, was in the past correctly characterized as being unregulated and unorganized with unreasonable project delays and poor quality of construction being definitive aspects.

The arrival of the Real Estate Regulatory Act (RERA) in March 2016 brought in a paradigm shift in the sector and metamorphosed it into a more mature, systematic and regulated one.

RERA came into force on May 1, 2017, and is meant to be a homebuyer-friendly regime which will address their grievances and promote transparency, efficiency, financial discipline and accountability in the sector.

Indeed, buying a home is not only the most cherished dream for many Indians but also one of the biggest long-term financial commitment in the buyers’ lifetime.

Considering this, there are 14 important guidelines incorporated in the RERA umbrella to prevent unscrupulous players from raining on consumers’ homebuying plans:

1. Enforcing timely delivery of projects

In case of project delays,

by Santhosh Kumar

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

You read of it in advertisements and on hoardings, and hear of it in radio jingles and TV commercials – the ideal home, or ‘dream home’.

It makes you wonder if you’re living the lifestyle you truly deserve, if your previous home purchase decision was too hasty and if there is a chance you could do better.

The ‘ideal home’ is a ubiquitous marketing concept, and it haunts buyers before and after a property purchase. But is there really such a thing in India?

The ‘Ideal Home’ Paradox

By and large, the concept of an ‘ideal’ home is very relative in this country. While everyone carries a picture of their dream home in their hearts, that image usually cannot translate into reality in this country.

People long to stay close to nature, yet also close to the excitement and opportunities of the city. They long for a home in an environment unpolluted by noise and vehicle emissions, yet depend heavily on public transport and roads to use their personal vehicles for commuting to and from work.