Setting up of the Real Estate Regulation and Development Act (RERA) Authority lags in Hyderabad which has somehow came as a bottom dollar for homebuyers and builders.

The government approved 80 residential projects in the city that are now interrupted as they can’t be registered under RERA in the absence of RERA Authority and State RERA website.

This has also scrubbed the construction of 10,000 flats which has resulted in decreased inventory.

The State government notified the set of RERA Rules in the month of August this year but no authority has been set up till now.

Homebuyers desires that the government must at least set up an ad hoc authority to implement RERA till a permanent body is set up, to safeguard the interests of buyers.

Source: Deccan Chronicle