Strict compliance with RERA provisions critical for restoring trust in housing market: PM Modi

Prime Minister Narendra Modi said strict compliance with RERA provisions is critical for restoring trust in the housing market while reviewing three major infrastructure projects costing over Rs 62,000 crore on Wednesday.

The projects were reviewed during a PRAGATI meeting, the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation.

An official statement said the projects spanned road transport, power and water resources sectors across various states and union territories.

During a review of public grievances linked to the Real Estate Regulatory Authority (RERA), Modi emphasised the need to improve the quality and timeliness of grievance disposal to ensure justice and fairness for homebuyers.

He asked state governments to ensure the mandatory registration of all eligible real estate projects under the RERA Act. Strict compliance with RERA provisions is critical for restoring trust in the housing market, he added.

Emphasising the strategic importance of these projects, he called for concerted efforts to overcome implementation of bottlenecks and ensure their timely completion.

Highlighting the adverse impact of project delays, he said such setbacks not only inflate costs but also deprive citizens of essential services and infrastructure.

He further urged all stakeholders to prioritise efficiency and accountability, stressing that timely delivery is critical to maximising socio-economic outcomes. In the PRAGATI meetings held so far, 373 projects worth around Rs 20.64 lakh crore have been reviewed, the statement said.

PTI