Real Estate Regulatory Authority (RERA), Himachal Pradesh constituted with the objective of regulating and promoting the real estate sector, ranks second amongst all the Real Estate Regulatory Authorities in the country to execute its own orders by instituting execution proceedings within one and a half years of its inception.
The Authority became fully functional from last one and half year despite difficult period of Covid. The main objective of the HP RERA is to regulate and promote the Real Estate Sector and to ensure sale of plots, apartments or buildings as the case may be, is done in an efficient and transparent manner, to protect the interests of home buyers in the State of Himachal Pradesh. About 38 new Real Estate Projects and 52 agents were registered with the Authority within a short period. The Authority has decided large number of cases by hearing the parties online without calling them to visit the office of the Authority. All the hearings of complaints are being conducted through WebEx and the parties are not required to physically visit the office of this Authority which makes it more convenient for the stake holders to pursue the cases. Till today more than 260 hearings were conducted through WebEx which has made it easier for the stake holders to pursue the cases from their home or office during Covid pandemic. In these cases an amount of Rs. 6 Crores 55 lakhs was ordered to be refunded to the house allottees. Out of the aforesaid amount, a sum of about 76 lakhs has already been recovered from the promoters and remitted in the bank accounts of allottees.
The HP RERA, has also taken initiative during the period mentioned above to settle the matters of complaints amicably between parties. As a result of which a sum of Rs. 52 lakhs has been refunded. Apart from refund, a penalty of more than Rs. 2 crores 27 lakhs was also imposed on the builders and promoters for contravention of provisions of Real Estate (Regulation and Development) Act, 2016. Till today 14 execution petitions have been filed by allottees and 9 execution petitions have been registered suo moto against promoters and builders. A total of Rs. 35 lakhs has also been realised as penalty from the builders and promoters.
The authority has formulated regulations no. 2, 4 and 5 to facilitate and regulate the filing of Quarterly Progress Reports (QPRs) and annual progress reports (APRs) online. These QPR’s are available on the web portal (public domain) of the HP, RERA which ensure transparency amongst the various stake holders. The allottees and home buyers are at liberty to see the progress of homes and apartments through these QPR’s. The promoters have been sensitized to fill up the QPRs and APRs through WebEx meetings.
The new website of RERA is under process of development through NIC. It has four modules for online registration of projects and agents, filing of complaints, quarterly progress report/Annual progress reports and pre registration facilities. It will be a simple, transparent and consumer centric website to help all stakeholders i.e. promoters, agents and allottees. The pre-registration facility will help promoters in getting speedy approvals from various departments with the intervention of H.P. RERA, before registration in this Authority.