Supreme Court Comes Down Heavily On RERA, Says Institution Doing Nothing, Better Abolish

The Supreme Court of India has expressed strong dissatisfaction with the Real Estate (Regulation and Development) Act (RERA), indicating that the regulatory body established to protect homebuyers is failing in its duties. During a recent hearing, Chief Justice Surya Kant and Justice Joymalya Bagchi highlighted the frustrations of consumers, stating that those whom RERA was designed to assist have become increasingly disillusioned with the system. The court's remarks underscore concerns that RERA, instead of providing the intended relief and assurance to homebuyers, is ineffective and may warrant reconsideration or even abolishment. The ruling reflects a growing sentiment among consumers who feel neglected and let down by the very institution meant to safeguard their interests in the real estate sector. This development is particularly significant as it raises questions about the effectiveness of regulatory frameworks in India and the need for reforms to ensure accountability and protection for homebuyers in a rapidly evolving market.