The Confederation of Real Estate Developers’ Associations of India (CREDAI) has written a letter to the Prime Minister Narendra Modi requesting him to intervene in the process of RERA implementation.
According to a member of CREDAI, due to the lack of proper notification and information related to RERA, the developers failed to register and comply with the rules on time.
As of now, many states have not appointed a RERA regulator. The government should provide adequate sources and infrastructure to implement RERA flawlessly. In the letter, the association also requested to give a mere definition of “On-going” projects and speed-up the process of setting up the Appellate Tribunal, he added.
Recently, the Parliamentary Committee on Subordinate Legislation setup to look into the implementation and functioning of the Real Estate (Regulation & Development) Act (RERA) expressed its concern over the dilution in the parent RERA rules and delay in the establishment of the Appellate Tribunal and the Regulator by many states.