Good News For Homebuyers: Govt To Launch Unified RERA Website To Offer Real-Time Updates On Builders, Projects And Complaints

Unified RERA Website to Enhance Transparency for Homebuyers

To enhance transparency and empower homebuyers nationwide, the government plans to launch a unified RERA website. This initiative addresses the current fragmented landscape of state-specific RERA platforms and aims for uniformity, potentially modeling the new site after Gujarat’s RERA example.

Key Features of the Unified Platform

  • Easily track project statuses across states
  • Access builder/developer records
  • View complaints against builders/developers

Currently, a builder’s projects in Uttar Pradesh, for example, are only visible on the UP RERA website, obscuring their activities elsewhere.

Benefits of Data Integration

Under RERA law, mandatory registration and regular monitoring are already in place. Integrating data from all RERA-registered projects into a single, accessible source will significantly boost transparency.

Expert Opinion

Abhay Upadhyay of FPCE emphasizes the urgent need for this unified platform, advocating for comprehensive access to information on all builders and developers’ projects. The consolidated website aims to provide homebuyers with a clearer understanding of builder operations and project progress nationwide.

Source: https://english.jagran.com/india/unified-rera-website-noida-homebuyers-builder-status-urban-development-ministry-fpce-builders-complaints-10225825

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Over 97 lakh real estate units registered under RERA in India’s top 10 states in 8 years: PropEquity

RERA’s Impact on Real Estate Project Registrations

Since RERA’s implementation in 2017, the top 10 states have registered 1.19 lakh real estate projects comprising 97.14 lakh units, according to PropEquity.

State-wise Project Registrations

  • Maharashtra leads with 40% of projects.
  • Tamil Nadu follows with 17%.
  • Gujarat accounts for 14%.

Top Cities for Project Registrations

Pune, Thane, and Hyderabad rank as the top three cities with the highest project registrations.

Trends in Project Registrations

While project registrations saw a surge between 2020 and 2022, they decreased by 21% between 2022 and 2024.

PropEquity CEO’s Perspective

PropEquity CEO Samir Jasuja highlights RERA’s positive impact on transparency and investment in the real estate sector. Post-RERA absorption rates have generally exceeded launches, demonstrating market maturity.

Average Units per Project

The report also indicates Uttar Pradesh has the highest average units per project at 184.

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Source: https://www.cnbctv18.com/real-estate/top-10-states-with-highest-rera-registered-real-estate-projects-2024-19566627.htm