Hiranandani Calls for RERA Review After Supreme Court Criticism

Real estate veteran Niranjan Hiranandani has called for a comprehensive review of the Real Estate Regulation and Development Act, 2016, following strong observations made by the Supreme Court on its implementation. Speaking at an industry conclave, Hiranandani stressed that while the intent behind RERA remains sound, inconsistencies in enforcement across states have diluted its effectiveness.

The Supreme Court recently expressed concern that in certain cases the regulatory framework was failing to deliver timely relief to homebuyers. The court’s remarks have triggered fresh debate within the real estate sector about the need to strengthen institutional capacity and ensure uniform standards of implementation.

Hiranandani noted that a majority of states have implemented RERA effectively, bringing transparency and accountability to project registration, fund utilisation and grievance redressal. However, lapses in a few regions have impacted overall perception. He emphasised that homebuyers who invest life savings into property should not suffer due to weak enforcement or delays in adjudication.

Drawing a comparison with financial market regulation, he observed that just as capital markets rely on a strong regulator to protect investors, the housing sector requires a robust and credible RERA mechanism to safeguard buyers. According to him, the solution lies not in diluting the law but in reinforcing it through stricter compliance, faster dispute resolution and the appointment of subject matter experts within regulatory authorities.

Legal experts have also pointed out that delays in enforcement of RERA orders and growing case pendency in some states have raised concerns. They suggest a central performance monitoring framework to track disposal rates and compliance levels to enhance transparency.

As India’s housing market continues to expand, industry leaders believe that restoring confidence through consistent and strong regulatory implementation will be critical to sustaining long term growth and protecting consumer interests.