Though the Act came into force on May 1, it was notified by only 13 states and union territories across India. RERA aims to bring more transparency and accountability to the housing sector, which has been plagued by various ills, particularly project delays and non-delivery.
The Real Estate (Regulation and Development) Bill, 2016, was passed in March last year. It has 92 sections and all of these will be applicable to states where the Act has been notified.
Haryana is likely to implement RERA in June, as the government notified and uploaded the draft rules of the Act on the website of the Department of Town and Country Planning (DTCP) on April 28. It also requested residents to post their feedback by May 15. The issues raised by them would be scrutinised and the final draft approved and sent to the government for implementation.
Once the draft was notified, the government would appoint an authority to regulate the real estate sector in the state.
Dilbag Sihag, the former chief town planner, who played a key role in drafting the RERA rules, said the government had followed a balanced approach to ensure an unhindered growth of the real estate sector.
A senior DTCP official, on condition of anonymity, said RERA could be implemented by the first week of June after a scrutiny of the feedback. “The issues pertaining to buyers will be resolved,” he said.
While the government officials assure that things will significantly improve once RERA is implemented, buyers are not very enthused. After going through the draft rules, a large number of buyers felt the state government had diluted the original Act, and was giving leeway to developers by not making the regulations applicable to ongoing building projects across the city.