Homebuyers' Body FPCE Criticizes Real Estate Regulators for Non-Publishing Annual Reports
NEW DELHI: Homebuyers' body Forum for People's Collective Efforts (FPCE) has criticized state real estate regulators for failing to publish annual reports as mandated by law. In a statement, FPCE pointed out that more than 75 percent of State RERA Authorities across India have either never published annual reports, discontinued publication, or are not up to date.
The FPCE highlighted that this non-compliance is a violation of Section 78 of the Real Estate (Regulation and Development) Act, 2016. Despite clear statutory obligations and repeated directives from the Ministry of Housing and Urban Affairs, many state regulators have not fulfilled their duties. The association demanded that the ministry issue fresh directions to all RERA authorities to publish annual reports in the prescribed format.
FPCE also called for the ministry to urge state governments to use their powers under Sections 82 and 83 of the Act to take strict action against erring authorities. The association suggested introducing a new section empowering the central government to remove any authority or its members if they fail to comply with central government directives.
The annual report data is crucial for homebuyers to assess the credibility of the system, and it is equally important for both state and central governments to frame effective policies, design incentivization schemes, and develop tax policy frameworks. FPCE President Abhay Upadhyay emphasized the importance of credible data to prove improvements in the sector post-RERA implementation. 'Unless we have credible data proving that the sector has improved in terms of delivery, fairness, and keeping its promises, we are merely firing in the air,' he said.
According to FPCE, seven major states, including Karnataka, Tamil Nadu, West Bengal, Andhra Pradesh, Himachal Pradesh, and Goa, have never published a single annual report since RERA's implementation. Additionally, nine states, which initially published reports, have discontinued publication, including major markets like Maharashtra, Uttar Pradesh, and Telangana. This lack of transparency and accountability significantly impacts the trust of homebuyers and the effectiveness of regulatory oversight in the real estate sector.
