No. 4025 SHRI PRASUN BANERJEE:
Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:
(a) whether the Ministry has any estimate of the number of people who have invested in upcoming realty projects but have not been allotted the flats even after the deadline;
(b) if so, the corrective steps taken by the Government in this regard; and
(c) the details of companies which have defaulted the most or have the maximum number of investors stuck in their projects?
THE MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF HOUSING AND URBAN AFFAIRS
(SHRI HARDEEP SINGH PURI)
(a) to (c): Ministry of Housing and Urban Affairs does not maintain such information.
However, the Ministry has enacted the Real Estate (Regulation and Development) Act, 2016 to ensure transparency and accountability in the real estate sector.
The States/Union Territories (UTs) and the Real Estate Regulatory Authority constituted under the Real Estate (Regulation and Development) Act, 2016 (Act) are to ensure the registration of ongoing projects as per Section 3(1) of the Act and to publish and maintain a website of records, for public viewing, of all real estate projects for which registration has been given, with such details as may be prescribed, including information provided in the application for which registration has been granted.
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