4th Meeting of Central Advisory Council Constituted Under RERA Organised

Shri Hardeep S. Puri, Minister for Housing and Urban Affairs and Petroleum and Natural Gas complimented the distance traversed in implementation of RERA and the also its success stories. He further stated that lot more needs to be done to utilize the full potential of this path-breaking legislation.

The 4^th meeting of the Central Advisory Council (CAC) constituted under RERA under the Chairmanship of Minister of Housing & Urban Affairs was held here today. The representatives of the associations of homebuyers & developers, officers from the Central and State Governments, chairpersons & senior functionaries of the Real Estate Regulatory Authorities and Appellate Tribunals of various States/Union Territories also attended the meeting. Various issues related to the implementation of RERA, issue of non-compliance of orders passed by Regulatory Authorities, concerns related to safety of construction workers, issue of legacy stalled projects, issue of dilution of provisions of RERA and awareness campaign for RERA were deliberated in detail.

The Council was happy to note that in compliance with the decision taken in its 3^rd meeting, a committee has been constituted under the chairmanship of Shri Amitabh Kant, G-20 Sherpa with the objective to examine and recommend ways to complete the legacy stalled projects and to handover the homes to the homebuyers in a time bound manner. The Council noted that two meetings of this Committee have already been convened on 24^th April, 2023 and 8^th May, 2023. The Council hoped that under the dynamic leadership of Shri Amitabh Kant, the Committee will be able to suggest pragmatic measures to resolve the issues related to legacy stalled projects finally resulting in handover of dwelling units to homebuyers.

Moreover, the issue of non–compliance of orders passed by Real Estate Regulatory Authorities was also discussed. In this regard, the Council deliberated on best practices of certain States regarding execution of orders passed by Real Estate Regulatory Authority which have worked successfully. Keeping in view the importance of speedy and effective execution of orders passed by the Real Estate Regulatory Authorities, it was decided that Ministry of Housing and Urban Affairs will compile the best practices in this regard and circulate the same to all the States/UTs and other stakeholders for consideration.

Furthermore, the issue of dilution of provisions of RERA was also deliberated. The Council observed that the matter is sub-judice and further necessary action will be taken by the Ministry of Housing and Urban Affairs as per the directions of Hon’ble Supreme Court.

Further, in order to generate more awareness amongst all the stakeholders, the Council advised that conclave/ awareness program may be organized in collaboration with National Real Estate Development Council (NAREDCO) / Confederation of Real Estate Developers' Associations (CREDAI)/ Forum for People's Collective Efforts (FPCE). It was also decided that possibility of involving All India Forum of Real Estate Regulatory Authorities (AIFORERA) in organizing workshops / awareness campaigns may also be explored.

The enactment of the Real Estate (Regulation & Development) Act, 2016 marked the beginning of a new era in Real Estate Sector as a step towards reforming the sector, encouraging greater transparency, citizen centricity, accountability, and financial discipline, thus empowering the home buyers. Ministry of Housing and Urban Affairs, Government of India is committed to protect the rights & interest of homebuyers.