Reflecting the on-going problems in real estate of India, the government passed a RERA (Real Estate Regulatory Authority) Bill on 1st May 2016. The bill was a part of Real Estate (Regulation and Development) Act of 2016 which was pioneered by Ministry of Housing and Urban Poverty Alleviation (HUPA). RERA contains the set of rules and regulations that require to maintain proper transparency and governance.
The RERA implementation has been clearly defined in the Real Estate Act of 2016. But there were some issues regarding the rules in the union territories of India as they are not considered as states. Thus, to make sure that RERA has been properly implemented in the union territories, Ministry of HUPA has presented a draft with clear sets of rules and regulations. This draft may further get amended with people’s suggestions. Ministry of HUPA has given a time till 8th of July for people to comment through email or the physical address of the concerned ministry.
Chandigarh, Andaman and Nicobar Islands, Daman and Diu, Dadra and Nagar Haveli and Lakshadweep are the union territories in which this draft applies will see the making of a full-fledged law.