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Union Housing and Urban Affairs Minister, Hardeep Singh Puri recently stated that States should not dilute RERA provisions, while affirming its status as a universally accepted regulation.
Why States and RERA Dilution?
Some States have possibly tweaked RERA provisions while creating their own rules under the Act.
It mainly pertains to exemption for registrations of ongoing projects.
The Supreme Court has asked the Centre earlier to analyse whether RERA rules of various States are in sync with the central Act and serve homebuyer interests.
Puri opined that States should justify the reasons for dilution and strongly called for a no dilution blueprint. He also assured that the whole template will not be changed due to these dilutions.
Zooming In
All UTs/States have notified RERA rules with the exception of Nagaland. Many have implemented RERA, while some are yet to do so.
Universal implementation of RERA is the way forward according to all industry stakeholders. While creative tweaking by States (often at the behest of the builder lobby and at the expense of common buyers) cannot be ruled out, the Minister’s assurance will keep our One Nation, One Regulator hopes alive.