With the coming of RERA (Real Estate Regulatory and Authority), many new things are incorporated in the Indian laws of real estate. The magnanimity of RERA is such that if we will tell you that one of its law, pans its own bad work, then it will definitely be surprising for you. But such is the transparency and discipline of RERA. A good governance cannot be done without the accountability of the government. We all are confused with the word accountability and seek answers from the government rather than a way or law if the government does something bad. The new clause in RERA should be considered as the first Indian law that takes the power away from the authority if some sort of delay has been done.
One of the prime reasons that you get delayed possession of your flats is the promoter getting late approvals from the authority. Many times, due to this fault of the government, a promoter has to resort to unfair deeds which ultimately hampers the life of the buyer. But now the promoter just has to submit all his project related documents and make an application to get his project registered or approved by the authority. The authority or RERA will have a period of one month to register or reject that project. The authority has to do its work on time and should study the documents so as to give timely approval or rejection. In case the government rejects the application, it is liable to give the reasonsfor which the project gets rejected. If the government fails to do these two things i.e. registration or rejection and reasons for rejection, then the project will automatically get approved in RERA. The promoter will also be given a registration ID and login ID to upload that project on RERA India’s website. The Real Estate Regulatory Act of 2016 has carefully examined the problems of real estate in India and delayed approval is one of the major ones.