RERA Compliance Concerns: Homebuyers Demand Action

The Forum for People's Collective Efforts (FPCE) criticized state real estate regulators for not regularly publishing required annual reports, violating Section 78 of the Real Estate (Regulation and Development) Act, 2016. FPCE urges government intervention to ensure compliance and enhance data transparency for effective policy-making.

The Forum for People's Collective Efforts (FPCE) has raised concerns over the non-compliance of state real estate regulators with the statutory requirement of publishing annual reports. In a statement, FPCE pointed out that over 75% of State RERA Authorities have failed to fulfill this obligation, despite clear directives from the Ministry of Housing and Urban Affairs.

FPCE has urged the ministry to issue new directives compelling all RERA authorities to release annual reports in the prescribed format. The organization also recommended that state governments use their powers under relevant sections of the Real Estate Act to take strict action against non-compliance. Additionally, FPCE suggested introducing a provision to allow the central government to remove non-compliant authorities or members.

The association argues that the publication of annual reports is crucial for homebuyers and policymakers alike, enabling better assessment of system credibility, policy framing, and tax framework development. FPCE President Abhay Upadhyay emphasized the necessity of reliable data to gauge improvements post-RERA, warning that the act risks becoming ineffective without compliance.

(With inputs from agencies.)