Tamil Nadu leads in RERA challenge registrations, Uttar Pradesh lags far behind

Data accessible with the Ministry of Housing and Urban Affairs signifies that up to now, 1,00,949 instances filed beneath the varied State iterations of RERA have been disposed of by these authorities as of 8 October 2022. Of these, about 72% instances (72,979 complaints) have been resolved within the final three years, which embrace the height pandemic interval.

Taking the lead over earlier torchbearer MahaRERA, Uttar Pradesh’s UP RERA has disposed 40,559 up to now this 12 months instances towards a mere 11,596 instances in October 2019. Haryana comes a distant second with about 20,539 instances disposed towards simply 2,480 instances within the corresponding interval of 2019. Still going sturdy however not within the pole place, MahaRERA has up to now disposed 12,507 instances.

Anuj Puri, Chairman – ANAROCK Group, stated, “Still nowhere near saturation impact however displaying ‘actual‘ progress, the Real Estate (Regulation and Development) Act has been visibly fulfilling one among its key capabilities – resolving homebuyer grievances. As per official information from MoHUA, the respective RERA authorities of varied state and UTs have addressed greater than a lakh client complaints.”

“While this is impressive, it is also true that there remains a big question mark with regards to 100% resolution,” says Puri. “At the tip of the day, RERA nonetheless lacks enough execution powers – a reality which the Supreme Court has additionally expressed apprehensions over. Meanwhile, the pandemic didn’t break the tempo of challenge and actual property agent registrations during the last three years.”

Project & Agent Registrations

Amounting for a formidable 109% progress in final three years, round 94,513 tasks have up to now been registered beneath RERA to this point, up from 45,307 in October 2019. The states with most challenge registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu. Together, these states account for a big 83% share with approx. 78,258 registered tasks. Maharashtra nonetheless tops the checklist with approx. 38,229 challenge registrations.

While it leads by way of disposal of instances, Uttar Pradesh has seen the bottom progress of twenty-two% in challenge registrations up to now three years. In October 2019, the state had approx. 2,710 registered tasks whereas the presently quantity stands at approx. 3304 tasks, indicating that the first focus in UP has been on challenge completions moderately than new launches.

Among the highest seven states, Jharkhand has seen the very best three-year progress of 855% in challenge registrations – from 103 in October 2019 to approx. 984 tasks at this time. Tamil Nadu recorded a 828% leap within the interval – in October 2019, the state had 1,154 tasks registered beneath RERA; this has elevated to 10,711 tasks at this time.

Meanwhile, registration of actual property brokers beneath RERA has risen by 95% within the final three years – from 35,699 on 8 October 2019 to approx. 69,766 on 8 October 2022. Maharashtra retains its lead with the utmost variety of tasks and agent registrations:

As on eighth October 2022, Maharashtra noticed 38,229 tasks and 38,969 brokers registered beneath MahaRERA

In Tamil Nadu, 10,771 tasks and a couple of,596 brokers have been registered as of October 2022.

Gujarat has seen 10,030 tasks and 1,953 brokers registered to this point.

In Karnataka, 6,313 tasks and three,590 brokers are presently registered beneath RERA.

Telangana presently has 5,148 tasks and a couple of,448 brokers registered.

Madhya Pradesh has seen 4,523 tasks and 1,287 brokers registered.

In Uttar Pradesh, 3,304 tasks and 5,583 brokers have been registered.

Rajasthan, Chhattisgarh, and Bihar are witnessing growing momentum with 2,096, 1,562 and 1,470 tasks registered, respectively.

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