As of November, this year, the Real Estate Regulatory Authority (RERA) across various states has successfully addressed and resolved an impressive total of 116,300 cases involving homebuyers, as reported by the Ministry of Housing and Urban Affairs. This signifies a substantial effort by RERA in ensuring the timely resolution of concerns and disputes, reinforcing its commitment to safeguarding the interests of homebuyers in the real estate sector. The data underscores the pivotal role played by RERA in promoting transparency, accountability, and consumer confidence within the real estate industry.
Out of this, 38% cases (approximately 44,602 complaints) were resolved in Uttar Pradesh alone, followed by Haryana with 20,604 cases (18%) and Maharashtra with 15,423 cases (13%). The three states cumulatively accounted for nearly 69% of total disposed cases under RERA in the country.
The registration numbers for projects and real estate agents under RERA have exhibited consistent growth, with a remarkable count of 116,117 projects and 82,755 registered real estate brokers across the nation as of November 28, 2023. This upward trend highlights the increasing adoption and compliance with RERA guidelines, signaling a positive shift towards transparency and accountability in the real estate sector.
Approximately 71,307 projects and 56,177 real estate agents were registered over the same period in 2021. This represents a 63% and 47% growth, respectively, over the previous two years.
Maharashtra maintains its forefront position in RERA project registrations, claiming a significant 36% share among 34 states and Union Territories. Following closely, Tamil Nadu secures the second spot with a 16% share, while Telangana and Gujarat trail with shares of approximately 7% and 11%, respectively. These statistics reflect the regional distribution of RERA-registered projects, indicating Maharashtra's continued dominance in adhering to regulatory standards in the real estate sector.
Out of 32 States/UTs that have established a Real Estate Regulatory Authority (RERA), five are interim. Ladakh, Meghalaya, Nagaland, and Sikkim are yet to establish RERAs. Additionally, 28 States/UTs have set up Real Estate Appellate Tribunals, including four interim ones. Arunachal Pradesh, Jammu and Kashmir, Ladakh, Meghalaya, Mizoram, Nagaland, West Bengal, and Sikkim are in the process of establishing their tribunals.
Websites under RERA provisions are active in 30 States/UTs, with Arunachal Pradesh and Manipur in the process of operationalization. Adjudicating officers are appointed in 26 States/UTs, while 10, including Arunachal Pradesh, Bihar, Manipur, Meghalaya, Nagaland, Sikkim, Uttarakhand, West Bengal, Jammu and Kashmir, and Ladakh, are yet to do so.
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