To capture status and delays of projects the housing and urban affairs ministry will create a central database of all housing projects. The ministry will also notify the Central Advisory Council to advise the government on the execution of real estate law, RERA, said the sources.
An official said, who did not wish to be named,”The process of having a central database will start soon. All state governments will be asked to share data. Since regulatory authorities have already started functioning in most of the states and developers have started registering projects with all requisite details, getting data should not be a problem.”
In next week the authority (Bombay High Court) is likely to declare its judgment on ongoing projects whether it should be covered under RERA. The Centre had directed the High Court (HC) that one of the main objectives of the central law was to address the concerns of home-buyers.
The national capital region and Mumbai metropolitan region have the highest share of delayed housing projects across the country.