“RERA has been a Resounding Success;It is here to Stay”: Hardeep Singh Puri

Aug 20,2020

Inaugurating the “Housing for all 2022: NAREDCO 15th National Convention: Real Estate Reflection Point: Readying for the future", the Minister for Housing & Urban Affairs, Shri Hardeep Singh Puri said that “RERA has seen a  resounding success, RERA is here to stay & 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.”  The event was organised by National Real Estate Development Council (NAREDCO) here today. Present at the event were Shri 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, Govt. of India.

The Minister further added that “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 in more than 50 Lakh Houses apart from the 27 Lakh Housed 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/commentsthe Minister said that more than 400 responses have been received from various stakeholders. He further added that with 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.

RJ/PS