India will not amend any provision of RERA

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NEW DELHI: India’s Housing Minister Hardeep Singh Puri on Thursday said the government will not amend any provision of Real Estate Regulatory Authority (RERA) and warned states against tweaking rules of the centre’s real estate law, asserting that it will lead to “harsh consequences”.

The Union housing and urban affairs minister said the “full benefit” of the Real Estate Regulatory Act (RERA) will be realised only when its provision is implemented in letter and spirit.

“We will not tweak RERA,” Puri told reporters on the sidelines of a workshop on the real estate law, organised by his ministry amid growing demands from builders to change rules.

RERA, which protects the interest of home buyers, was enacted by Parliament and states were given powers to notify their respective rules and appoint regulatory authorities.

Puri said the states which have made its own rules by tweaking provisions of the RERA, will have to “fall in line, otherwise, the consequence is very harsh”.

There are some states who have watered down the provisions of central legislation.

Asked about several home-buyers not being delivered their houses by developers on time, the Union minister said, “We will not hesitate from naming and shaming (of those developers not delivering flats on time).” He said the time has come for “adversely affected parties” to also stand up, and states have to support them.

At the workshop, attended by associations of home-buyers, builders, banks and other stakeholders, Puri said Uttar Pradesh, Haryana and Punjab need to take suitable action so that their rules are line with the RERA.

So far, 33,750 real estate projects have been registered under RERA while 26,018 agents have also been registered under it.

Source: Press Trust of India