Parliamentary standing committee looks into watering down of RERA by states

In an effort from preventing of watering down of Real Estate (Regulation and Development) Act (RERA) 2016, a parliamentary standing committee on subordinate legislation has started reviewing it.

The act, which comes into force from May 1 is supposed to protect the interests of the common man including transparent payment arrangements and timely delivery of properties by developers. Committee on Subordinate Legislation (COSL) is looking into how the act is being enforced by the states.

Various states, according to industry experts, have made certain changes in the act by not including existing projects or making changes in the punishment for non-completion of