Investigating Government Statements Regarding Reforms and Dissociation Policies

In March 2016, the Real Estate (Regulation and Development) Act was notified, marking a significant step towards regulating the real estate sector in India. The Act, aimed at protecting the rights and interests of consumers, promoting uniformity and standardization of business practices, and establishing a fast-track dispute resolution mechanism, has since made substantial progress.

As of March 2019, 28 States and Union Territories (UTs) have set up their Real Estate Regulatory Authorities (Regular - 20, Interim - 8). These authorities are instrumental in overseeing the real estate sector, ensuring transparency, and safeguarding the interests of homebuyers. Furthermore, 21 States and UTs have established Real Estate Appellate Tribunals (Regular - 11, Interim - 10) to handle disputes arising from the real estate sector.

A total of 38,176 Real Estate Projects and 29,551 Real Estate Agents have registered under RERA across the country, demonstrating a growing acceptance and compliance with the Act. Regulatory Authorities of 23 States and UTs have operationalized their websites under the provisions of RERA, facilitating easy access to information and promoting transparency.

The Act has been instrumental in opening the commercial coal mining sector to private players, as per the first claim in an infographic published by the BJP government. The Coal Mines (Special Provisions), Ordinance, 2014 was promulgated in October 2014, and the act was passed subsequently. As per the latest information provided by the government in the Lok Sabha in February 2019, a total of 31 coal mines have been auctioned to Private/Government companies under the provisions of the new act.

The third claim in the infographic is that 'home-buyers' dreams and rights protected with Real Estate Regulation Act (RERA)'. While this statement is largely true, it requires more context to be fully understood without prior knowledge. The Act provides a robust framework for addressing issues faced by homebuyers, such as delayed projects and non-delivery of flats, among others.

The Real Estate Act, 2016, mandated the establishment of the Real Estate Regulatory Authority (RERA), which has been instrumental in regulating the real estate sector and promoting transparency. As of March 2019, 29 States and UTs have notified rules under RERA.

The BJP government published an infographic on their 48-month portal, containing four claims about reforms and institution setting in the economy. One of these claims was that the net proceeds from disinvestment in 2017-18 were Rs. 1,00,057 crores. However, it's worth noting that the claim that disinvestment crossed the target of 72,500 crore rupees was made in the infographic, but the specific source of this information was not provided.

In conclusion, the Real Estate Regulation Act, 2016, has made significant strides in regulating the real estate sector, protecting the rights of consumers, and promoting transparency. The establishment of Real Estate Regulatory Authorities and Appellate Tribunals across the country is a testament to the Act's impact. However, continued efforts are required to ensure full compliance and to address any emerging challenges in the sector.