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State RERAs resolve 48,556 cases in 3 years
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SME Times News Bureau | 14 Jul, 2020
The Real Estate Regulatory Authorities across states have resolved
48,556 cases since the implementation of the RERA Act in 2017.
Citing
data from the Ministry of Housing and Urban Affairs, an Anarock report
said that out of the total resolved cases, nearly 57 per cent cases were
resolved in the past one year.
"Uttar Pradesh takes the lead
with as many as 18,509 cases disposed of by the UP RERA authorities so
far, against a mere 5,989 cases a year ago. Haryana is at a distant
second with nearly 9,919 cases disposed of currently as against 3,123
cases in the corresponding period of 2019," the Anarock report said.
Maharashtra's 'MahaRERA' has so far disposed of nearly 7,883 cases.
Anuj
Puri, Chairman, Anarock Property Consultants says: "One of RERA's
primary functions is addressing real estate consumers' grievances. In a
bit over three years since RERA implementation, the authorities of
various states and UTs have resolved over 48,556 consumer complaints."
He
added that project and agent registrations have also increased
perceptibly in a year, by nearly 24 per cent and 20 per cent
respectively.
The 24 per cent growth in project registrations
under RERA in a year pertains to around 43,208 projects by the end of
July 2019 to nearly 53,364 projects as of date. The states with maximum
project registrations currently include Maharashtra, Gujarat, Karnataka,
Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu.
Cumulatively,
these seven states account for a significant 85 per cent share with
nearly 45,278 registered projects. Maharashtra tops the list with nearly
25,604 project registrations.
Interestingly, Uttar Pradesh has
seen the least annual growth of five per cent in project registrations.
In July 2019, around 2,676 projects were registered in the state and
currently, the number stands at around 2,818 projects. Evidently,
developers in the state were more focused on project completions than on
new launches.
Among the top seven states, Telangana saw the
highest yearly growth of 79 per cent in project registrations -- from
1,064 projects in July 2019 to over 1,902 projects now. Tamil Nadu
recorded a 54 per cent yearly jump -- as on July 2019, the state has
1,064 projects registered which have increased to 1,635 projects this
year.
In terms of agent registrations, there has been a 20 per
cent increase in a year -- from 34,182 registered agents towards
July-end 2019 to nearly 41,143 agents as of July 2020.
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