One year of RERA: Where the industry stands
The country’s real estate sector is in a state of transformation, with the enactment of the Real Estate (Regulation and Development) Act 2016 (RERA) and stabilisation of the Goods and Services Tax (GST). RERA came into force on 1 May 2017 to improve transparency in the sector and address customer grievances due to project delays.
So far, 31,500 projects have already been registered under the Act, of which more than 795 are in Rajasthan. The state was one of the early adopters of the Act, and the major rules of Rajasthan RERA (Raj-RERA) are in line with the central RERA rules.
This report brings out the status of RERA, along with some key data points, for Rajasthan and the rest of the country. It also discusses the progress of the Housing for All mission, which aims to address the housing requirements of the urban poor through various initiatives.