More than 1 lakh cases disposed of by RERA authorities

(Representative image)

Over 1 lakh cases filed under the various state iterations of RERA have been disposed of by RERA authorities, with Uttar Pradesh’s RERA disposing of the maximum number of cases as of the first week of October. Of these, approximately 72 percent of cases were resolved in the last three years, which include the COVID-19 pandemic, data available with the Ministry of Housing and Urban Affairs has indicated.

As many as 1,00,949 cases and 72,979 complaints have been disposed of until October 8, 2022.

Taking the lead over previous torchbearer MahaRERA, Uttar Pradesh’s UP RERA saw as many as 40,559 cases disposed of so far - against a mere 11,596 cases in October 2019. Haryana comes a distant second with approximately 20,539 cases disposed of, against just 2,480 cases in the corresponding period of 2019. Still going strong but no longer in the pole position, MahaRERA has so far disposed of approximately 12,507 cases, an analysis by Anarock showed.

While it leads in terms of disposal of cases, UP has seen the lowest growth of 22 percent in project registrations in the past three years. In October 2019, the state had approximately 2,710 registered projects while the current number stands at approximately 3,304 projects, indicating that the primary focus in UP has been on project completions rather than new launches.

Among the top seven states, Jharkhand has seen the highest three-year growth of 855 percent in project registrations – from 103 in October 2019 to approximately 984 projects today. Tamil Nadu recorded an 828 percent jump in the period - in October 2019, the state had 1,154 projects registered under RERA; this has increased to 10,711 projects today.

“Still nowhere close to saturation effect but showing ‘real‘ progress, the Real Estate (Regulation and Development) Act has been visibly fulfilling one of its key functions – resolving homebuyer grievances. As per official data from MoHUA, the respective RERA authorities of various states and UTs have addressed more than a lakh consumer complaints,” said Anuj Puri, Chairman – ANAROCK Group.

“While this is impressive, it is also true that there remains a big question mark with regards to 100% resolution,” says Puri. “At the end of the day, RERA still lacks sufficient execution powers – a fact which the Supreme Court has also expressed apprehensions over. Meanwhile, the pandemic did not break the pace of project and real estate agent registrations over the last three years.”

Project and Agent Registrations

Amounting to a 109 percent growth in the last three years, approximately 94,513 projects have so far been registered under RERA to date, from approximately 45,307 on October 8, 2019.

The states with the maximum project registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu. Together, these states account for a significant 83 percent share with approximately 78,258 registered projects. Maharashtra still tops the list with approximately 38,229 project registrations.

Meanwhile, registration of real estate agents under RERA has risen by 95 percent in the last three years – from 35,699 on October 8, 2019, to approximately 69,766 on October 8, 2022. Maharashtra retains its lead with the maximum number of projects and agent registrations:

As of October 8, 2022, Maharashtra saw 38,229 projects and 38,969 agents registered under MahaRERA. In Tamil Nadu, 10,771 projects and 2,596 agents have been registered as of October 2022. Gujarat has seen 10,030 projects and 1,953 agents registered to date; In Karnataka, 6,313 projects and 3,590 agents are currently registered under RERA; Telangana currently has 5,148 projects and 2,448 agents registered; Madhya Pradesh has seen 4,523 projects and 1,287 agents registered.

In Uttar Pradesh, 3,304 projects and 5,583 agents have been registered; Rajasthan, Chhattisgarh, and Bihar are witnessing increasing momentum with 2,096, 1,562 and 1,470 projects registered, respectively.