NEW DELHI: Around 20,000 real estate initiatives have been registered across India below the Real Estate Regulation Act (Rera), consistent with the housing and urban affairs ministry. Maharashtra accounts for more than part of the registered initiatives.
According to ministry officers, more than 2,000 initiatives have been introduced below Rera in UP, with Gautam Budh Nagar and Noida accounting for more than 1,000. Karnataka, Gujarat and Andhra Pradesh have additionally registered a sizeable number of realty initiatives.
"Keeping most of the ongoing or incomplete projects out of the ambit of Rera by states need to be rectified. Once they widen the ambit of Rera, more projects will come under the regulation and these can be tracked for the benefit of buyers. The law was made for all buyers waiting for their houses and future customers as well," a central govt legitimate mentioned.
Among states that have given exemptions to initiatives below the "ongoing" category are Telangana, which has excluded all initiatives for which development permissions had been approved before January 2017.
Though the UP govt has additionally excluded initiatives that meet any one among 4 stipulations — services have been passed over to native authority, common areas have been passed over to RWA, 60% of sale/lease deed executed, and alertness filed for finishing touch certificate — many incomplete initiatives have been registered.
In Karnataka, all initiatives which might be 60% complete have been kept out of Rera Andhra Pradesh, Maharashtra and Haryana have additionally given positive exemptions to initiatives. So a long way, 26 states and Union territories have notified the true estate laws below the Act and 6 of them have established the regulatory authority.
According to ministry officers, more than 2,000 initiatives have been introduced below Rera in UP, with Gautam Budh Nagar and Noida accounting for more than 1,000. Karnataka, Gujarat and Andhra Pradesh have additionally registered a sizeable number of realty initiatives.
"Keeping most of the ongoing or incomplete projects out of the ambit of Rera by states need to be rectified. Once they widen the ambit of Rera, more projects will come under the regulation and these can be tracked for the benefit of buyers. The law was made for all buyers waiting for their houses and future customers as well," a central govt legitimate mentioned.
Among states that have given exemptions to initiatives below the "ongoing" category are Telangana, which has excluded all initiatives for which development permissions had been approved before January 2017.
Though the UP govt has additionally excluded initiatives that meet any one among 4 stipulations — services have been passed over to native authority, common areas have been passed over to RWA, 60% of sale/lease deed executed, and alertness filed for finishing touch certificate — many incomplete initiatives have been registered.
In Karnataka, all initiatives which might be 60% complete have been kept out of Rera Andhra Pradesh, Maharashtra and Haryana have additionally given positive exemptions to initiatives. So a long way, 26 states and Union territories have notified the true estate laws below the Act and 6 of them have established the regulatory authority.
20,000 projects under Rera so far
![20,000 projects under Rera so far]()
Reviewed by Kailash
on
January 02, 2018
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