As many as 40,000 complaints have been registered with the Real Estate Regulatory Authorities (RERA) in the entire nation, Durga Shankar Mishra, secretary, Housing and Urban Affair, government of India, revealed on Sunday.
It is time strict action was initiate against the defaulters through necessary changes in the original Act on the subject, the secretary observed while addressing chairmen of the authorities from 17 different states of the country came to attend a RERA conclave scheduled to take place in Lucknow.
He said that people raise questions over the law which they feel is not strong enough to deal with the situation arising from wayward ways of the developers and builders. We need to contemplate on what the law should be like to initiate stringent action against these defaulters.
He, however, expected that this high-level meeting would certainly come out with suggestions for tough measures necessary for amendment of the law to rein in the unruly real estate companies.
Dr Amarjeet Singh, chairman of Gujarat RERA, said registration of projects witnessed a sharp rise by almost 34 per cent during the financial year 2018-19. According to the estimate, 30 per cent flats (inventories) are lying unsold. He expressed concern over slow pace of construction for the projects in the unplanned areas, which, he said would be a tough challenge for the authority to monitor in near future.
D S Antonee, chairman of Madhya Pradesh RERA, proposed formation of a regional forum.
The conclave, which begins from tomorrow, will have five different sessions.