NEW DELHI: A total of 14 states and Union territories (UTs) have notified the real estate regulatory authority rules till now, while other 14 are in advance stages of notifying it, according to Rajiv Ranjan Mishra, joint secretary, ministry of housing and urban poverty alleviation (HUPA).
“Chattisgarh is the latest state to notify RERA rules and we know that other 14 states have drafted their rules and will notify them soon,” Mishra said at a conference on real estate regulation rules organised by industry body FICCI here on Thursday.
There are a total of 36 states and Union territories in India at present.
The states have another three months starting May 1, 2017 for notifying their respective RERA rules and form a regulator. All the real estate projects and property agents also have to be registered with regulatory authorities by July 31.
The government in April also notified the remaining 32 sections of the Real Estate (Regulation and Development) Act, 2016, which relates to registration of ongoing projects that have not received completion certificate, registration of property agents, penalties for non-compliance, etc. It had enforced the other 59 sections of the Act from May last year.
The Real Estate (Regulation & Development) Act, 2016 was notified by the ministry of HUPA on May 1 last year. All the states were supposed to notify real estate rules including the general rules and the agreement for sale rules and establish the real estate regulatory authorities and the appellate tribunals maximum by April 30, 2017. However, most of the states have either diluted the RERA rules or not yet notified them yet.