KANCHAN GOGATE
Times of India 22-09-2017 

It's time to reflect upon the implications (and repercussions, if any) of RERA on the real estate market and acquaint the home-buyers with its recent developments

Known as the one of the most reformative Acts to date, Real Estate (Regulation and Development) Act, 2016, (RERA) is gradually getting implemented across the country. According to experts, it is the most powerful Act that will streamline things and bring in much-needed transparency. July 31, 2017 was the last date to register ongoing projects with the respective state regulators.

As of now, around 26 states have notified the rules.Maharashtra, Madhya Pradesh and Karnataka were the first ones to implement the rules on May 1 as per the centre's notification.Telegana, Himachal Pradesh and Goa have recently notified while Kerala, Tripura and West Bengal are yet to notify.An official from the union ministry of housing and urban affairs, says, “With land being a state subject, the centre has prepared guidelines. The states are expected to follow them while preparing their draft rules.Some states followed the deadline while a few asked for extension.“

EXPERT VIEW:

DILIPKUMAR GANDHI, CHAIRPERSON, THE COMMITTEE ON SUBORDINATE LEGISLATION, INDIAN PARLIAMENT:

Committee had the crucial job of ensuring RERA implementation. We looked at the draft rules framed by the states and also the extent at which they were in line with centre. The states, which deviated, were asked to reframe rules and follow the central policy. Barring a few, several states have either implemented or notified RERA rules.