Government plans of building a Central Database on real estate

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Mr. Hardeep Singh Puri, Union Minister of Housing & Urban Affairs said that government is keen on developing a central database on real estate activity throughout the country which will help in improving transparency in the real estate sector & benefit homebuyers & other stakeholders. 

The union minister also said, “Let's have a central database, which we have all the constituent segments, the states will let have all the stakeholders also have access to the database, because the maximum transparency that you can introduce, you will find that the sector will begin to benefit from that free flow of information,”.

According to the experts, this database will help the sector to get rid of the issues that the industry is facing for a long time. The central government has also started to work with state government & Real Estate Regulatory Authorities across the state that is already capturing data.

The minister also urged that some states have not implemented the Real Estate (Regulation & Development) Act, 2016. While so far only 34 states & union territories have implemented the act.

The minister also responded to the criticism being faced on RERA that orders passed by them are not being implemented in some cases, the minister responded by saying that the government will take corrective action as per requirement.


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