The Supreme Court has expressed strong displeasure over the functioning of the Real Estate Regulatory Authority (RERA) formed to control the real estate sector. The court said that RERA has deviated from its original objective. It seems that instead of protecting home buyers, it is facilitating defaulting builders.
During the hearing of a case on Thursday, the bench of Chief Justice Surya Kant and Justice Joymalya Bagchi said that the same people who should have got relief are disappointed and troubled today. The bench also said that if RERA continues to work only in the interest of builders, then there is no justification for the existence of such an institution.
Comment regarding the matter related to Himachal
This comment of the court came during the hearing of a case related to transfer of RERA office from Shimla to Dharamshala in Himachal Pradesh. The court approved the decision of the state government but at the same time raised serious questions on the entire functioning of RERA. The court said that all the states should reconsider the formation of RERA in their states. Even if such an institution is closed, the court will have no objection.
Instructions to improve real estate law
The judges said that the objective of setting up RERA was to bring transparency in the real estate sector, prevent delays in projects and protect the rights of home buyers, but at the ground level, the opposite picture is visible. At present this is the oral comment of the court, not a final decision. But this strict comment of the court can be considered an important sign towards reforming the real estate law.
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