Press Information Bureau
Government of India
Ministry of Housing & Urban Affairs
23 MAR 2023 7:53PM by PIB Delhi

‘Land’ and ‘Colonization’ are state subjects. The data sought is not maintained centrally by Ministry of Housing and Urban Affairs.

In order to protect the interest of homebuyers and to ensure transparency and accountability in the Real Estate Sector, Parliament has enacted the Real Estate (Regulation and Development) Act, 2016 (RERA). Under the provisions of RERA, the Real Estate Regulatory Authority of the concerned State/Union Territory (UT) is required to register and regulate real estate projects and real estate agents registered under RERA. Further, on lapse or revocation of the registration under RERA, the Regulatory Authority in consultation with the appropriate Government is empowered to take action for carrying out the remaining development works of the project by competent authority or by association of allottees.

Moreover, to give relief to homebuyers of stalled projects, Government has established a Special Window for Completion of Affordable and Mid-Income Housing (SWAMIH investment fund) for funding stalled projects that are net-worth positive and registered under RERA, including those projects that have been declared as Non-Performing Assets (NPAs) or are pending proceedings before the National Company Law Tribunal under the Insolvency and Bankruptcy Code. As on 17th March, 2023, under SWAMIH, 310 proposals aggregating to ₹31,145 Crores have been approved and this will benefit around 1,91,367 homebuyers and unlock projects worth ₹83,188 Crore.

This information was given by the Minister of State for Housing & Urban Affairs, Shri Kaushal Kishore, in a written reply in the Lok Sabha today.