With an aim to bring transparency, Delhi Lieutenant Governor Anil Baijal on Wednesday inaugurated the official web portal of the Real Estate Regulatory Authority (RERA).

According to the Delhi Government, the web portal  rera.delhi.gov.in has been launched to help disseminate information to the citizens about the real estate projects and real estate agents operating in Delhi.

“The Real Estate (Regulation and Development) Act is a land mark legislation to safeguard the interests of prospective apartment owners and home buyers.  The real estate sector has remained unregulated for all these decades and has been brought under the fold of regulation through this legislation,” quoted a statement from LG house.   Visitors or Real Estate realtors can now check the status of registered or pending projects with the authority.  The web portal will also help to update people about the all judgments and orders passed by the authority in different complaint cases.

 It is a mechanism for general public to seek information over email/phone, and for giving feedback.

Apartment owners or buyers can now create login ID and password, the Real Estate Agent can also Creation/generation of a LOGIN ID and passwords and upload all documents.

“It will be a game changer in the real estate sector which was more or less unorganized.  The regulatory authority will gradually ensure that the interest of the citizen, buyers and promoters will be protected.  The authority will ensure accountability, transparency and fair play in this unorganized sector,” LG Baijal said. 

A system is to be evolved in which information is shared with other RERA of various states on real time basis for adopting the best practices by the different Authorities.

 This may be noted that RERA has a dual responsibility, one regulation andthe other of development of the real estate sector.

 Regulatory framework must provide relief to the consumer while in the medium to long term developmental framework must greatly precedence and strike a balance among the respective interest of three major stake holders the consumers, the real estate agents and the builder or promoters.