The Housing and Urban Affairs Ministry had organised regional workshops to hold a constructive discussion on the Real Estate (Regulation and Development) Act (RERA) post two years of its implementation. The Ministry held the one-day workshops for over a period of three months in four different parts of the country. They organised the workshops to identify difficulties in the implementation of RERA and discuss solutions for them. The workshop at Ranchi in the second week of December 2018 was the concluding segment of the workshop series.

 

Shri. Durga Shanker Mishra, Secretary to the Ministry of Housing and Urban Affairs addressed the workshop. He asserted that the effective implementation of RERA would generate the confidence of home buyers in the governance and its system. It would recreate the reliability of home buyers on financial institutions. During the workshop, the authority listed the suggestions for RERA, MoHUA and other Central Ministries, states and industry associations.

 

The primary suggestion pertaining to RERA includes provision for authentic data and information in all areas of the state. Also, the creation of conciliation and reconciliation forums for faster resolution of issues between parties involved should be taken up.

 

It was also suggested that RERA should ensure that there is required fund flow in a project. This can be achieved by discouraging late payments and refunds to home buyers. It was also suggested that a summary of the entire project be provided to promote transparency through public perspective. For the web portal, plans are being considered for providing details of the mortgage along with the concerned institution names, expired certificate notification and subsequent process.

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