The current Uttar Pradesh Government will revise the Real Estate (Regulation & development) Act , notified by the previous government.
As per the sources, the CM of Uttar Pradesh, Yogi Adityanath assured M Venkaiah Naidu, Union housing minister that his government will work to protect the interest of home buyers. Mr. Naidu, who took up the issue to the CM, highlighted the points which proved that the rules were not drafted on the lines of Centre’s prescription.
Yogi Adityanath told Venkaiah Naidu that he had noticed the concerns of some home buyers’ association who had bought the issue of dilution in the Uttar Pradesh RERA rules . The CM also warned the developers that the government would take harsh action if they fail to deliver what they have promised to the buyers.
Karnataka was one of the first states to draft the RERA rules in October but the government failed to implement it by the given deadline, said MS Shankar, Convener, Fight for RERA Karnataka Chapter. He added that we want the government to implement the Act as soon as possible without any dilution.
Uttar Pradesh notified the Real Estate Regulatory Act on 1st May 2017 but had to face severe criticism as the rules have various loopholes that will allow the realtors to escape the law.
As of now, only nine states and six UTs have notified the RERA and many of the provisions are in contrary to the Centre’s law. Recently home buyers in Bangalore protested against the Karnataka government asking the state to implement the RERA rules immediately.
Home buyers also alleged the state government of drafting rules in favour of builders and not clarifying certain sections of the Act.