By bookmyhouse | 14th April 2017

Govt reiterates RERA to be implemented on May 1, urges states to expedite process

“The much-awaited Real Estate Regulatory Act (RERA) will come into full effect from May 1, 2017”clarified the government on Thursday; However, only four states of Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh and six Union Territories have notified the final rules so far.
The Government has recommended states to notify the rules & set up the regulatory authorities in the set time frame, they have to notify real estate rules including the general rules and the agreement for sale rules and establish the real estate regulatory authorities and the appellate tribunals’ maximum by April 30, 2017.
 Rajiv Ranjan Mishra, Joint Secretary, minister of housing & urban poverty alleviation said: “RERA will come into full effect from 1st May 2017, and we request the states to expedite the process” at the two-day national review and consultation meet organized in Delhi on the Pradhan Mantri Awas Yojna (Urban).
In a two-page letter to all the chief ministers of states on February 9, minister of HUPA Venkaiah Naidu said, “Real Estate Act is one of the most important reforms for the sector, which would bring benefits to all stakeholders. It is, therefore, my sincere request to please bestow your personal attention to this matter so that the Act is implemented in time and in the spirit with which it was passed by the Parliament”.

The Real Estate (Regulation & Development) Act, 2016 was notified by the ministry of HUPA on May 1 last year for the six Union Territories without the legislature. The HUPA rules were also supposed to act as the model rules for other states.
 

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