The Ministry of Housing and Urban Affairs Ministry (MoHUA) will play a key role in protecting the interest of consumers while guiding government on an execution of Real Estate Regulation Act (RERA). MoHUA has constituted a 30-member central advisory council for protecting the interest of consumers.
Dilution in Rera provisions by some of the states and the need to create a central database of all projects will be one of the bigger challenges before the new entity.
The council will advise the central government to foster the growth and development of the real estate sector. Headed by housing and urban affairs minister, the council has a dozen central and state government secretaries, representatives from home buyers associations, civil society and real estate research organisations.
An official said, “Setting up of the council is important since the implementation of the act is yet to pick up in many states and that too in compliance with the central law. Issues faced by states can be resolved at the council, which will have representatives from all the stakeholders. It will also advise the government on policy-related issues.”
State governments five top secretaries have to implement laws from states including Delhi, Uttar Pradesh, Haryana, Odisha and Tamil Nadu have been included. Chairpersons of regulatory authorities from five other states are also members of the council.