ANIHousing minister Manohar Lal KhattarNew Delhi: Days after the Supreme Court questioned the effectiveness of Real Estate Regulatory Authorities across India, housing & urban affairs minister Manohar Lal Khattar said that a consultative committee of members of Parliament will tell the states to get the RERA bye-laws vetted by central team before making any announcement. Khattar said the RERA Act was passed by the central government, but its bye-laws are made by the state governments. Homebuyers' activists said state governments are making policies that are diluting the RERA Act. "We can forward the suggestion and advocate for it, but the state government must act. RERA bye laws are made by states and whatever suits them, they make it part of it. Implementation must happen according to the byelaws," said Khattar while speaking at NAREDCO Conclave on Saturday. The minister said that the real estate sector can be divided between pre-RERA and post-RERA and post-RERA, things have gotten better.Live Events "Builders are trying everything to dilute the RERA. In some cases, state government policies are contradicting RERA itself," said Gopal Arora, an activist for homebuyers. The central housing & urban affairs ministry will also consider a proposal to set up charitable institutions to fund housing, particularly in the affordable segment, since banks and other such entities do not come forward to fund housing units in the affordable sector. Khattar also indicated that a committed fund could be set up to finance the stalled housing projects of the pre-RERA period as per wider and broader suggestions of industry so that both promoters and buyers are able to reach for a win-win settlement.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)Read More News onManohar Lal KhattarReal Estate Regulatory AuthorityRERA Acthousing and urban affairs(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless(You can now subscribe to our Economic Times WhatsApp channel)Read More News onManohar Lal KhattarReal Estate Regulatory AuthorityRERA Acthousing and urban affairs(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless