PM Modi Emphasizes RERA Compliance to Restore Trust in Housing Market
Prime Minister Narendra Modi reviewed infrastructure projects worth over Rs 62,000 crore and stressed the importance of RERA compliance for restoring trust in the housing market. He urged state governments to ensure the registration of all eligible real estate projects under the RERA Act.
Rera CompliancePm ModiHousing MarketInfrastructure ProjectsReal EstateReal Estate NewsMay 28, 2025
The projects spanned road transport, power, and water resources sectors across various states and union territories. During the review of public grievances linked to RERA, Modi underscored 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 crucial for restoring trust in the housing market, he added. Emphasizing the strategic importance of these projects, he called for concerted efforts to overcome implementation bottlenecks and ensure their timely completion.
Highlighting the adverse impact of project delays, he noted that such setbacks not only inflate costs but also deprive citizens of essential services and infrastructure. He further urged all stakeholders to prioritize efficiency and accountability, stressing that timely delivery is critical to maximizing socio-economic outcomes. In the PRAGATI meetings held so far, 373 projects worth around Rs 20.64 lakh crore have been reviewed, according to the official statement.
RERA, established to regulate the real estate sector, aims to protect the interests of homebuyers and promote transparency in real estate transactions. The Act mandates the registration of real estate projects and provides a framework for resolving disputes between developers and buyers. Modi's emphasis on RERA compliance reflects the government's commitment to ensuring a fair and transparent housing market, which is essential for economic growth and social stability.
Frequently Asked Questions
What is RERA?
RERA stands for the Real Estate Regulatory Authority. It is a regulatory body established to protect the interests of homebuyers and promote transparency in real estate transactions. RERA mandates the registration of real estate projects and provides a framework for resolving disputes between developers and buyers.
Why is RERA compliance important?
RERA compliance is important because it ensures transparency, accountability, and fairness in the real estate sector. It helps restore trust in the housing market by protecting the interests of homebuyers and ensuring that developers adhere to regulations and standards.
What did PM Modi review during the PRAGATI meeting?
During the PRAGATI meeting, PM Modi reviewed three major infrastructure projects worth over Rs 62,000 crore. The projects spanned road transport, power, and water resources sectors across various states and union territories. He also reviewed public grievances linked to RERA and emphasized the need for strict compliance with RERA provisions.
What are the consequences of project delays?
Project delays can have significant adverse effects, including increased costs and the deprivation of essential services and infrastructure for citizens. Delays also impact the overall socio-economic outcomes of the projects and can erode public trust in the government and developers.
How many projects have been reviewed in PRAGATI meetings so far?
In the PRAGATI meetings held so far, 373 projects worth around Rs 20.64 lakh crore have been reviewed. These meetings aim to ensure the timely completion of projects and address implementation bottlenecks.
Related News Articles
Navigating the Markets: Expert Insights to Guide Your Investment Decisions
Get answers to your market queries with our live sessions featuring expert analysts. Learn where to invest
Simplifying Real Estate: Birla Estates' 'Real Advice' Campaign with Vicky Kaushal
Birla Estates launches 'Real Advice' campaign featuring Vicky Kaushal to educate Indian consumers on real estate concepts.
Raju Bhise: The Visionary Driving Austin Realty's Growth
With over fifteen years of experience under his belt, Raju Bhise co-founded Austin Realty, aiming to transform the real estate industry. His vision and leadership have been instrumental in the company's success.
PNB Launches Home Loan Expo 2025 to Empower Homebuyers With Exclusive Offers
The Punjab National Bank (PNB) has officially launched the Home Loan Expo 2025, offering homebuyers and real estate investors a range of exclusive financing solutions to make their dream homes a reality. The event is designed to provide comprehensive guid
TGRERA Imposes Heavy Penalty on Hyderabad Builder for Violating Real Estate Regulations
The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a heavy fine of 13.74 lakh on a Hyderabad-based builder for using an improper agreement of sale, violating multiple sections of the Real Estate (Regulation and Development) Act 2016.
Supreme Court Orders CBI Inquiry into Builders-Banks Nexus in Delhi-NCR
The Supreme Court has directed the Central Bureau of Investigation (CBI) to probe the real estate projects of Supertech Limited and other entities in the National Capital Region (NCR). This move aims to uncover any illicit financial activities and potential fraud.