Real Estate Regulatory Authority (RERA) has resolved over 72,000 complaints out of one lakh cases involving the housing sector across the country in the last three years, as of the first week of October, property consultant ANAROCK said in a report.
Jharkhand sees the highest three-year growth in project registrations, at 855 per cent, while Uttar Pradesh leads in cases resolved by the Real Estate Regulatory Authority (RERA).
Real Estate Regulatory Authority (RERA) has resolved over 72,000 complaints out of one lakh cases involving the housing sector across the country in the last three years, as of the first week of October, property consultant ANAROCK said in a report.
Citing data from the Ministry of Housing and Urban Affairs, Anarock said out of 100,949 cases, RERA resolved 72,979 complaints up till October 8, 2022, with Uttar Pradesh leading the list.
In Uttar Pradesh, RERA disposed of as many as 40,559 cases by the first week of October, against a mere 11,596 cases in October 2019.
Haryana comes a distant second with around 20,539 cases resolved compared to just 2,480 cases in October 2019. Maharashtra saw about 12,507 cases decided, the report said.
ANAROCK Group chairman Anuj Puri stressed that there has been "real progress" in resolving RERA cases. He said the Real Estate Regulation and Development Act has been "visibly fulfilling one of its key functions – resolving homebuyer grievances".
Furthermore, Uttar Pradesh witnessed the slowest growth in project registrations over the past three years, at just 22 per cent. The state currently has about 3,304 registered projects, up from about 2,710 in October 2019, indicating the state's primary focus has been on project completions rather than new launches.
"While this is impressive, it is also true that there remains a big question mark regarding 100% resolution," said Puri.
"RERA still lacks sufficient execution powers – a fact which the Supreme Court has also expressed apprehensions over. Meanwhile, the pandemic did not break the pace of project and real estate agent registrations over the last three years," he added.
Among the top 7 states, Jharkhand saw the highest three-year growth in project registrations at 855 per cent, up from 103 projects in October 2019 to around 984 projects today. On the other hand, Tamil Nadu recorded an 828 per cent jump in the same period, from 1,154 registered RERA projects in October 2019 to 10,711 projects.
As of October 8, 2022, Maharashtra saw 38,229 projects and 38,969 agents registered under RERA. In Tamil Nadu, 10,771 projects and 2,596 agents were registered as of October 2022. Gujarat has seen 10,030 projects and 1,953 agents registered to date. In Karnataka, 6,313 projects and 3,590 agents are registered under RERA, while Telangana currently has 5,148 projects and 2,448 agents registered, and Madhya Pradesh has 4,523 projects and 1,287 agents registered.