RERA has become rehabilitation centre for former bureaucrats: Supreme Court

The Supreme Court on Friday expressed strong disapproval of the functioning of the Real Estate Regulatory Authority (RERA). [Bharati Jagat Joshi v. Reserve Bank of India and Ors]

A Division Bench of Justices Surya Kant and Ujjal Bhuyan remarked that RERA had turned into a place for former bureaucrats - who have frustrated the scheme of RERA Act - to hold positions after retirement.

"We do not want to speak about RERA. It has become rehabilitation centers for former bureaucrats who have frustrated the entire scheme of the Act," the Court observed.

The RERA Act of 2016 was enacted to regulate and promote transparency in the real estate sector, protect homebuyers, and ensure timely delivery of projects.

The Court was hearing an appeal challenging a Delhi High Court order that dismissed pleas for directions to banks and financial institutions to refrain from charging pre-EMIs or full EMIs from the petitioners and similarly situated homebuyers, citing the availability of alternative remedies such as RERA.