Centre plans to set up common online platform for RERA
The Centre has planned to set up a common online platform for the Real Estate Regulatory Authority (RERA) of all states and UTs, a move which will provide an opportunity to home-buyers, builders and authorities to exchange views. Announcing the government's plan here, Housing and Urban Affairs Secretary DurgaShanker Mishra said that with this platform, the real estate law will become "more strong". Under the Real Estate (Regulation and Development) Act, 2016, all states are mandated to constitute their respective real estate regulator RERA which provides proper protection to home buyers. "We are working to introduce a common platform where RERA of all states and Union Territories (UTs) can exchange their views. With this, RERA will be more strong," he said. According to the ministry, as per the norms of Pradhan MantriAwasYojana (Urban), home-buyers will not be able to avail Credit Linked Subsidy Scheme (CLSS) under the mission if real estate project is not registered under RERA. Under PMAY (U), home-buyers can avail an interest subsidy of upto 2.67 lakh.
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