New Projects Registration under RERA, Monday was the last day
For new projects registration under RERA, Monday was the last day. The registration of all incomplete and new projects with the realty regulator. Though the law provides for penalty for failure to comply the norm, it remains to be seen whether states will act tough or give some relaxation considering that many of them have not yet put in place a permanent regulator.
On the other hand the Housing and Urban Development Ministry has decided to move to Supreme Court for clubbing all cases relating the RERA (Real Estate Regulation & Development Act) which have been filed in different High Courts. These petitions have challenged the constitutional validity of the law. The case has been submitted before the Bombay High Court Nagpur bench.
Builders main contention is that the provision of bringing all “ongoing projects” under RERA have retrospective effect since the projects were started when there was no such law, and hence the law is illegal. They have also challenged the centre’s right to enact the law relating to land, which is a state subject and submitting details of projects to the regulator would amount to violate the right to privacy.
RERA rules are applicable in 35 States and UTs except J&K, but according to sources 23 States and Uts have notified RERA rules. Six states- Goa, Kerala, West Bengal, Himachal Pradesh, Telangana and Tripura- have made draft rules, but yet to be notified.
Only 4 States- Gujarat, Maharashtra, Madhya Pradesh and Punjab have set up permanent regulators, while 19 States/UTs have established interim regulators. 9 States/UT’s have appointed interim appellate tribunal, 7 States have started online registration and 5 States are in advanced stages of online registration.
Maharashtra has taken the lead among States where the regulator has received applications for registration of about 10,000 projects and about 7,000 agents.