RERA a resounding success, here to stay: Hardeep Singh Puri

Minister of Housing and Urban Affairs, Hardeep Singh Puri has said that Real Estate Regulatory Authority (RERA) has been a resounding success and is here to stay as it has already started to show effect.

Inaugurating the 'Housing for all 2022: NAREDCO 15th National Convention: Real Estate Reflection Point: Readying for the future' on Tuesday, Puri said, "RERA has seen a resounding success, RERA is here to stay and has begun to show effect. Yes, we have a few things to iron out but the regulator has come to be accepted by stakeholders and those who felt victimised earlier."

"I am confident that housing for all targets will be achieved well in time. With an enhanced target of 1.12 million houses, we have already sanctioned 85 lakh Houses of which construction is in progress in more than 50 Lakh houses apart from the 27 Lakh houses which have already been delivered," the minister added.

The event was organised by National Real Estate Development Council (NAREDCO) in the presence of the NAREDCO President Niranjan Hiranandani.

Speaking about the Draft Model Tenancy Act(MTA), 2019, which has been shared with the States and Union Territories for seeking their views, the Minister said that more than 400 responses have been received from various stakeholders.

He further added that with rental policy in place, together with housing policy and other efforts from the ministry, will help in reviving one of the most important sectors of the economy.