RERA a Resounding Success, It is here to Stay : Puri

Speed Post News Network

New Delhi : Inaugurating the “Housing for all 2022: NAREDCO 15^th National Convention: Real Estate Reflection Point: Readying for the future”, Housing & Urban Affairs Minister Hardeep Singh Puri on August 20, 2019, said that “RERA has seen a  resounding success, RERA is here to stay and has begun to show effect.

“Yes, We have a few things to iron out but the regulator has come to be accepted by stakeholders and those who felt victimised earlier,”  Puri said. The event was organised by National Real Estate Development Council (NAREDCO) here. Present at the event were Niranjan Hiranandani, President, NAREDCO, along with other stakeholders from the sector. NAREDCO  was established as an autonomous self-regulatory body in 1998 under the aegis of Ministry of Housing and Urban Affairs, Government of India.

The Minister said, “I am confident that Housing For All targets will be achieved well in time. With an enhanced target of 1.12 million Houses, We have already sanctioned 85 lakh Houses of which construction is in progress of more than 50 lakh houses apart from the 27 lakh houses which have already been delivered.”

Speaking about the Draft Model Tenancy Act(MTA), 2019, which has been shared with the States/UTs for seeking their views/comments, the Minister said that more than 400 responses have been received from various stakeholders. He further added that a rental policy in place,  together with housing policy and other efforts from the ministry, should  help revive/kick start one of the most important sectors of our economy, according to a PIB release.