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DIMAPUR — Nagaland is the only state in India which is yet to notify rules under the Real Estate (Regulation & Development) Act (RERA) of 2016, according to the Economic Survey 2023-24 presented by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on July 22.
The survey stated that the RERA was enacted to bring about much-needed reform in the country’s real estate sector and encourage greater transparency, citizen-centricity, accountability, and financial discipline, thus empowering home buyers and boosting the economy.
“All States/ Union Territories (UTs) have notified rules under RERA except Nagaland, which is in the process of notifying the rules,” it said.
It may be recalled that the Supreme Court, in August last year, had issued notices to the chief secretaries of Nagaland, Meghalaya, Sikkim and Union Territory of Ladakh to give their response on the lack of setting up of the regulatory authority within 60 days.
Subsequently, an ‘affidavit compliance’ was electronically filed on January 11, 2024, according to a court report on January 18. However, details of the affidavit were not available.
Meanwhile, according to the ‘Implementation Progress Report’ available on the Ministry of Housing and Urban Affairs portal, as on July 22, Nagaland is yet to notify the rules and has not established a regulatory authority or an appellate authority.
The state is also yet to set up a web portal and appoint an adjudicating officer.