PM Modi Stresses Importance of RERA Compliance to Restore Trust in Real Estate
Prime Minister Narendra Modi has called on state governments to ensure the mandatory registration of all eligible real estate projects under the Real Estate (Regulation and Development) Act (RERA). He emphasized that strict adherence to RERA provisions is essential to rebuilding homebuyer confidence and restoring trust in the housing sector.
PM Modi, during a PRAGATI meeting on May 28, highlighted the importance of strict adherence to Real Estate Regulatory Authority (RERA) provisions to restore trust in the housing sector. He stressed the need to enhance the quality and timeliness of grievance redressal to ensure justice and fairness for homebuyers.
The remarks came as Modi reviewed three major infrastructure projects worth over ₹62,000 crore under the PRAGATI initiative—an ICT-based multi-modal platform for proactive governance and timely implementation. According to an official statement, the projects span the 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 emphasized 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 said.
PM Modi highlighted that project delays not only lead to cost overruns but also deprive citizens of essential infrastructure and services. Emphasizing the strategic importance of these projects, he called for concerted efforts to overcome implementation bottlenecks and ensure their timely completion.
He 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 ₹20.64 lakh crore have been reviewed, the statement said.
RERA, enacted in 2016, aims to protect the rights of homebuyers and streamline the real estate sector. The Act requires all real estate developers to register their projects with the respective state RERA authorities and adhere to strict guidelines to ensure transparency and accountability. The implementation of RERA has been a significant step towards bringing much-needed regulation to the real estate market, which has long been plagued by delays and malpractices.
