Now the Supreme Court of the country has raised serious questions on RERA, a law made to control the real estate sector. The Supreme Court made a sharp comment and said that if this institution has deviated from its original purpose and is giving relief to defaulter builders instead of home buyers, then it should also be considered for abolition. This comment of the court has created a stir in the real estate world.
A bench of Chief Justice of India Surya Kant and Justice Joymalya Bagchi was hearing the case of Himachal Pradesh Government versus Naresh Sharma. During this, CJI said that the states should introspect as to for whom RERA was made. The court expressed concern that in many cases, instead of getting relief, common buyers have to face a lengthy legal process, while defaulting builders get the benefit. The CJI said in clear words that if an institution is not able to fulfill its purpose, then it is natural to question its existence.
What is the whole matter?
The matter pertains to the transfer of RERA office from Shimla to Dharamshala in Himachal Pradesh. The state government had issued a notification in this regard, which was stayed by the High Court. The High Court believed that without alternative arrangements, this step could affect the functioning of the institution. However, the Supreme Court intervened in the High Court order and allowed the state government to transfer the office. It was also directed that the functioning of both RERA and its Appellate Tribunal should not be affected and the hearing of pending cases should continue regularly.
Concern over the problems of buyers
During the hearing, the Court also emphasized that the objective of RERA was to provide timely justice and transparency to home buyers. But many buyers at the ground level complain that they have to wait for years and do not get concrete relief.
The basic objective of RERA
RERA law was implemented in 2016 to bring transparency in the real estate sector and curb the arbitrariness of builders. By creating regulatory authorities in every state, an attempt was made to ensure that flat buyers get timely houses and justice.
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