Hyderabad: The Real Estate (Regulation and Development) Act, 2016 was notified by the Centre on May 1, 2016 and all the states were asked to notify it within six months. The TS government has been sitting on it — four months after the October 2016 deadline.
Only five states could notify the Act so far and even these states have diluted some provisions of Centre’s Act after coming under pressure from builders’ lobby.
The TS government has made no progress in setting up the institutional mechanism for implementation of RERA. The Act mandates the setting up of the real estate regulatory authority and the appellate tribunal by April 30. To do this, the state government has to draft its own version of the Act and get it approved in the Legislature. The drafting of the Bill is yet to be initiated.
From May 1, both real estate buyers and developers can approach the Real Estate Regulatory Authority seeking relief for violations of the contractual obligations and other provisions.
This requires the TS government to notify the rules, including the general rules and agreement for sale rules, setting up the Authority and Appellate Tribunal by April 30.
The Centre recently wrote to the chief ministers of all states to take personal interest and ensure that the Act is implemented in letter and spirit from May 1.
In the letter to the TS government, Union minister M. Venkaiah Naidu noted, “The Real Estate Act is one of the most important reforms for the sector, which would bring benefits to all stakeholders. In the absence of regulatory authority.”
