<\/p>
The Supreme Court\u2019s criticism of Real Estate (Regulation and Development) Act, 2016, almost a decade after it was introduced to bring transparency and accountability to the real estate sector, has found support from real estate tycoon Niranjan Hiranandani.<\/p>
Hiranandani, Managing Director of Hiranandani Group of Companies and Chairman of National Real Estate Development Council (NAREDCO), an autonomous self-regulatory body under the Ministry of Housing and Urban Affairs, on February 13 called for a review of RERA to give it more teeth.<\/p>
\u201c90% of states have done a great job in RERA.10% of states have brought bad name that even the Supreme Court has now given its criticism. We need\u00a0to re-examine\u00a0as to why this is happening,\u201d Hiranandani said during his address at the National Urban and Real Estate Development Conclave 2026. \u201cWe cannot afford to have people who have invested important amounts in their flats should ever suffer,\u201d Hiranandani added.<\/p>
On February 12, the Supreme Court observed that RERA should be \u201cabolished\u201d as it helps the defaulting builders and not homebuyers. A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi said people were \u201ccompletely depressed, disgusted and disappointed.\u201d \u201cExcept facilitating the builders in default, this institution is doing nothing. Better abolish this institution, we don’t mind that,\u201d the CJI remarked.<\/p>
Hiranandani also acknowledged that \u201cbad\u201d developers have tarnished RERA. \u201cRERA is important. One bad name and the country suffers. It is the job of the industry and NAREDCO to see that this does not happen\u201d he said.<\/p>
Drawing a comparison between RERA and capital markets regulator SEBI (Securities and Exchange Board of India), Hiranandani said, \u201cLike we have SEBI for the capital markets, we have RERA. But the RERA\u2019s distinction is much more important because capital markets are for rich companies, RERA is for the poorest of poor who wants to buy a house.\u201d<\/p>
Adjudication delays and weak enforcement of RERA orders in certain states have diluted its effectiveness, says Arun Kumar, partner of JSA Advocates & Solicitors. The concerns raised by the top court highlight implementation gaps in RERA\u00a0rather than any structural flaw in the law itself, said Kumar.<\/p>
To better serve homebuyers, Kumar said RERA needs stronger and more consistent enforcement across states, stricter action against repeated non-compliance, and greater institutional capacity. \u201cA central performance monitoring framework tracking pendency, disposal, and compliance levels could enhance transparency and accountability,\u201d he added.<\/p>
The apex court also flagged that RERA authorities are often staffed with retired bureaucrats instead of subject-matter experts.<\/p>
\u201cMore subject matter experts must be appointed in the RERA authorities which would ensure that complex matters can be handled more effectively by the RERA authorities and the decisions passed by the authorities are more practical and informed,\u201d Kumar said, adding that appointing subject-matter experts would enhance the credibility and efficiency of the regulatory framework.<\/p>
\u201cIn essence, RERA does not require dilution or abolition, it requires consistent enforcement and standardisation across states so that the relief envisioned under the law translates into tangible outcomes for homebuyers,\u201d he explained.<\/p> <\/div>
RERA, Supreme Court, RERA orders, real estate, Niranjan Hiranandani, real estate regulator#observation #Niranjan #Hiranandani #calls #039reexamination039 #RERA1771032467<\/p> ","protected":false},"excerpt":{"rendered":"
The Supreme Court\u2019s criticism of Real Estate (Regulation and Development) Act, 2016, almost a decade after it was introduced to bring transparency and accountability to the real estate sector, has found support from real estate tycoon Niranjan Hiranandani. Hiranandani, Managing Director of Hiranandani Group of Companies and Chairman of National Real Estate Development Council (NAREDCO), […]<\/p>\n","protected":false},"author":1,"featured_media":3480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[11526,4771,11525,11524,11521,11523,11520,11522,11518,11519,1518],"class_list":["post-3479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-039reexamination039","tag-calls","tag-hiranandani","tag-niranjan","tag-niranjan-hiranandani","tag-observation","tag-real-estate","tag-real-estate-regulator","tag-rera","tag-rera-orders","tag-supreme-court"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/3479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3479"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/3479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/3480"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3479"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}