Centre plans to set up common online platform for RERA of all states, UTs

7 min read
  1. The Central government has planned to set up a common online platform for the Real Estate Regulatory Authority (RERA) of all states and UTs.
  2. The move aims to provide an opportunity to home-buyers, builders and authorities to exchange views.
  3. Real Estate (Regulation and Development) Act (RERA) 2016 is a central legislation which aims to regulate the real estate sector. It seeks to empower and protect property consumers and make transactions fair and transparent.
  4. The RERA Act was enacted under Entry 6 and 7 (dealing with contracts and the transfer of property) of the Concurrent List of the Constitution of India.
  5. Under the Real Estate (Regulation and Development) Act 2016, all states are mandated to constitute their respective Real Estate Regulatory Authority (RERA).
  6. The Real Estate Regulatory Authority (RERA) registers and maintains a database of real estate projects, provides proper protection to home buyers and renders advice to the government and ensure compliance with its Regulations and the Act.
  7. So far, 30 states and UTs have notified RERA. West Bengal has notified its own real estate regulator under its Housing and Industrial Regulation Act, 2017 (HIRA).

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