Mehrotra, Abhinav and Upadhyay, Amit (2025) Real estate act — Overcoming the domino effect of delays & legal ambiguities to reinvigorate sector. ABP Live.
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Abstract
On March 4, the Supreme Court remarked that the functioning of the Real Estate Regulatory Authority (RERA), established to protect the investment of homebuyers and promote the real estate sector, has been disappointing. This has triggered questions surrounding the transparency, accountability, and efficiency of the RERA, and the need for regulatory improvements in its functioning. RERA was established under the Real Estate (Regulation and Development) Act of 2016 to protect homebuyers and promote growth in the real estate sector by boosting investor confidence. While the law has standardised real estate practices — streamlining approvals, reducing malpractices, and adoption of digital tools — there have been numerous challenges. The lack of streamlined processes in real estate projects has caused unnecessary delays, inconsistent enforcement, fragmented regulatory environment and further complications, and the absence of clear SOPs has resulted in bureaucratic inefficiencies, ill-defined project timelines, and potential bottlenecks, triggering financial losses for developers and a slowdown in sectoral growth that prompted the Supreme Court to make such a remark.
Item Type: | Article in Newspapers and Magazine |
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Subjects: | Social Sciences and humanities > Social Sciences > Social Sciences (General) Social Sciences and humanities > Social Sciences > Law and Legal Studies |
JGU School/Centre: | Jindal Global Law School |
Depositing User: | Dharmveer Modi |
Date Deposited: | 24 Mar 2025 10:43 |
Last Modified: | 24 Mar 2025 10:43 |
Official URL: | https://news.abplive.com/blog/opinion-real-estate-... |
URI: | https://pure.jgu.edu.in/id/eprint/9272 |
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