Govt to launch real estate e-commerce platform in Jan: Hardeep Singh Puri

To ease the process of buying a house, the government will soon launch an e-commerce platform, Housing and Urban Affairs Minister Hardeep Singh Puri announced at the first National RERA Conclave held in Lucknow on November 4.

“We’ve held discussions with both Credai and Naredco, and we will soon come up with an e-commerce portal for the real estate sector, possibly around Makar Sankranti,” he said.

Makar Sankranti will be celebrated on January 15, 2020.

Within a year after coming to power, Prime Minister Narendra Modi organised the sector through RERA. Earlier, four regional conclaves on RERA were also held. This is the first national conclave, and it will be held every year, Puri said, adding the Lucknow conclave sent out a clear message that RERA was being implemented 100 percent.

“All states have implemented RERA except one state. That has been challenged in the Supreme Court. Rera will be implemented in all states and union territories. It is also applicable in Jammu and Kashmir from October 31. As many as 45,000 cases are before RERA authorities across the country and a solution acceptable to both buyers and builders have been found. There are over 12,000 cases that have been resolved in Uttar Pradesh alone and that is good progress,” he told reporters.

Durga Shanker Mishra, the secretary at the Housing and Urban Affairs Ministry, said that a common portal would be set up to provide information regarding rulings and orders passed by different RERA authorities across the country.

“The platform would provide all the rulings related to the properties in different states categorised according to the subject and with a summary. This would help people in applying the earlier rulings in any part of the country to their particular case, if applicable. It would bring all the best practices in the home buying sector under one umbrella,” Mishra said.

He said the recommendation to develop a common platform was made by a committee headed by Vijay S Madan, RERA chief for Delhi and Chandigarh.

“Through this portal a transparent mechanism will be put in place so that all judgments can be accessed by RERA members, members of the public and all stakeholders such as builders and financiers. Work is in full swing and this portal will be in place soon,” he said.

An all-India forum for RERA has also been constituted, and this is a new beginning, he said.

As for the real estate platform to enable buyers to buy property, Mishra said that buyers in any part of the world – London, Chennai or for that matter Guwahati – would be able to think of buying a property in Lucknow through the portal.

All information pertaining to all the projects that have been completed, projects that have received occupancy certificates, information regarding size of the house, price of the house and the location will be available on the portal, he told reporters.

“We will get this started through Naredco and Credai. It would be as simple as buying something on Amazon or Flipkart. We have targeted Makar Sakranti to set up this e-commerce portal,” he said.

UP Chief Minister Yogi Adityanath, addressing the first National RERA Conclave in Lucknow, said the state government had constituted a high-level committee headed by the chief secretary with a mandate to submit its report within a week after studying the recommendations of two committees.

“The state government will take into account all issues such as zero period, co-developer, part finished projects and floor area ratio (FAR) to come out with a positive solution to both the home buyers and the builders,” he announced.

The chief minister observed that the domestic real estate sector, which had earned a bad reputation, was getting a new identify, which the Narendra Modi government had sought to address by instituting RERA.

The chief minister said, “For me, the interest of those who stake their earnings for a home, is supreme. Such people face problems as despite all the money being stuck, they also have to pay the bank loan.”

“However, this does not mean we will neglect the interest of other sectors associated with the real estate. If builders fulfil their promises in a transparent manner, they too will be given all possible help as per the rules. If this happens, the real-estate sector will once again recover from recession and touch new heights,” the UP CM said.

“Maximum 80 per cent complaints regarding not getting possession of their houses even after paying the entire amount, has been received from eight districts of the state. After meeting a few of the victims and builders, I understood about the myth of Noida,” he said.

“I believe political and administrative dishonesty is also at the root of the mess in this sector. Either the money received from the buyers was distributed by the culprits among themselves or it was invested in some other sector. A visit by any compassionate person to the area could have exposed the culprits who divided the money among themselves. Thus, there has been a propaganda against Noida,” he said.

The chief minister praised the work done by RERA and said the government would also announce more measures to strengthen RERA and make the real-estate sector full of potential.

He said, for the past 10 years, there were about three lakh home buyers who could not get their accommodation. “Without any pressure, through dialogue, we were able to ensure accommodation for one lakh buyers in Noida, Greater Noida and Yamuna Expressway,” he said.

The Conclave Transforming Realty with RERA, organised by UP RERA, saw the participation of at least 15 heads of RERA authorities from other states, government officials, representatives of central and state agencies, homebuyers, developers, real estate agents, consultants, CREDAI, and National Real Estate Development Council (NAREDCO).

Uttar Pradesh Chief Secretary R K Tiwari said that the work on a 341 km Purvanchal Express, 297 kilometer Bundelkhand Expressway, 640 Meerut-Prayagraj Expressway and 92 kliometer Gorakhpur Link Expressway had started. He expressed that the hope that these expressways will boost the real estate sector.

Praveen Jain of Naredco said that there were many challenges that the real estate sector was facing. Once six crore stuck houses are completed, people would have confidence in the sector. He also announced the initiation of UP Chapter of Naredco.

Credai chief Jaxay Shah said that the real estate sector would cross the 1-trillion-dollar mark by 2030. Until September 6, as many as 1151 real estate cases have been filed  in the NCLT. “To resolve the issue changes in the law should be brought about,” he said.