A considerable backlog of pending registration files has built up within Gujarat's Real Estate Regulatory Authority (RERA) amid the prolonged absence of a chairperson. This significant delay has raised concerns within the real estate industry, with experts suggesting that it may take a substantial amount of time for the authority to restore its normal functioning. The extended period without a chairperson has led to an accumulation of work, leaving aspiring homeowners, developers, and stakeholders in the real estate sector grappling with uncertainties as they await the resolution of this issue.
In a delayed development in the real estate sector, developers in Ahmedabad are reporting extended waiting times for project registrations with the Gujarat Real Estate Registration Authority (RERA). Industry insiders have cited a backlog of pending files, attributing the delay to the prolonged absence of a chairperson within the state's RERA office. It is anticipated that the regulatory body's operations will require some time to return to normalcy.
Currently, registration processes are experiencing noticeable delays. According to sources, over 500 consumer complaints are also in line for hearings at RERA. In the first week of October, it was reported that registration applications for approximately 450 new projects were awaiting approval.
The absence of a chairperson at RERA for nearly eight months, coupled with the retirement of several members, has caused the current delays. While all positions have now been filled, the new team is still acquainting themselves with the processes, resulting in these hold-ups.
Previously, projects could obtain their registration numbers within 35 days of application submission. However, the process now takes approximately two months, leading to a backlog of files. One developer, speaking on condition of anonymity, expressed hope that the situation would return to normalcy by the upcoming Diwali festival.
The prolonged delay has also impacted buyers who have sought RERA's intervention in their disputes with developers. There are reportedly around 800 consumer applications pending against developers, as hearings were not possible for several months, resulting in an accumulation of cases. However, sources have assured that the authority has initiated hearings for these matters, offering hope for a swift resolution of the pending cases.
Ahmedabad witnessed a surge in land deals over the past year, with many developers planning to launch new projects during the festival season. However, the delay in RERA approvals is currently hampering their plans, leaving them in a holding pattern.
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