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Real Estate Sector: The RERA Act (Real Estate Regulation and Development Act) was passed in Parliament in 2016 to curb the arbitrariness of builders, save homebuyers from their terror and bring transparency in the sector. After the enactment of this law, all the states had to set up a regulatory authority for the real estate sector. After the RERA law came into existence, if there has been success in controlling the builders, then the homebuyers have benefited tremendously. But these days there is a tussle between the Union Housing Ministry and the Consumer Affairs Ministry regarding RERA.
According to the news of Times of India, the Ministry of Consumer Affairs has recently held a meeting with the stakeholders to solve the problem of homebuyers facing difficulties in the real estate sector. This meeting has been done by the Ministry when the Real Estate Regulatory Authority i.e. RERA has come into existence across the country and it comes under the Housing Ministry. Piyush Goyal is the Minister of the Ministry of Consumer Affairs. On this, Housing Ministry Minister Hardeep Singh Puri said that the Real Estate Regulatory Authority has been formed to solve the problems related to the real estate sector, so other government agencies or ministries should encourage customers to do forum shopping. Should be avoided so that customers have to go to different places regarding their problems. He has said these things in the meeting of the Central Advisory Council.
After the coming into existence of RERA, there has been a huge reduction in the complaints related to the real estate sector in the consumer commissions. Despite this, 10 percent of the total complaints received by the commission are related to the real estate sector. The Ministry of Consumer Affairs has constituted a panel to study the model provisions of builder-buyer agreements keeping in mind the interests of homebuyers.
On which Hardeep Puri said that if the Consumer Commission was so effective, then there would be no need to create Real Estate Regulatory Authority i.e. RERA. He said that the problem related to any sector should be raised in the same forum for which it has been constituted, that too when it has been constituted by making a law from the Parliament. Hardeep Puri said that when RERA was challenged, we have also won the legal battle, so other departments should refrain from interfering in the issue related to the real estate sector.
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