Niranjan Hiranandani Calls for Re-examination of RERA to Strengthen Homebuyer Protections
Industry Leader Responds to Supreme Court Concerns Over RERA Effectiveness
Niranjan Hiranandani, Managing Director of Hiranandani Group and Chairman of National Real Estate Development Council (NAREDCO), on February 13 called for a review of RERA to give it more teeth. His call came just one day after the Supreme Court observed that RERA should be "abolished" as it helps the defaulting builders and not homebuyers.
Speaking during his address at the National Urban and Real Estate Development Conclave 2026, Hiranandani said "We need to re-examine as to why this is happening." The remarks targeted what he described as dysfunction in specific states, noting that "90% of states have done a great job in RERA. 10% of states have brought bad name that even the Supreme Court has now given its criticism."
The Supreme Court's February 12 Observations
On February 12, the Supreme Court observed that RERA should be "abolished" as it helps the defaulting builders and not homebuyers. A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi said people were "completely depressed, disgusted and disappointed." "Except facilitating the builders in default, this institution is doing nothing. Better abolish this institution, we don't mind that," the CJI remarked.
The apex court also flagged that RERA authorities are often staffed with retired bureaucrats instead of subject-matter experts. The bench's language reflected judicial frustration with the pace and effectiveness of dispute resolution in the real estate regulatory system.
Hiranandani's Position: Reform, Not Abolition
"We cannot afford to have people who have invested important amounts in their flats should ever suffer," Hiranandani added. His response acknowledged the gravity of homebuyer concerns while positioning RERA reform as essential—not the institution's elimination.
Hiranandani acknowledged that "bad" developers have tarnished RERA. "RERA is important. One bad name and the country suffers. It is the job of the industry and NAREDCO to see that this does not happen," he said.
RERA's Purpose and the Execution Gap
RERA, introduced in 2016, was designed to tackle project delays, enhance transparency and protect homebuyers. The law created state-level authorities to adjudicate disputes between developers and buyers and to enforce timelines for project completion. Yet nearly a decade on, both the Supreme Court and industry leaders are confronting widespread perception that the system has failed to achieve these goals.
Adjudication delays and weak enforcement of RERA orders in certain states have diluted its effectiveness, say experts. These systemic delays have left thousands of homebuyers in legal limbo, unable to secure refunds or compensation for incomplete or delayed projects.
The Debate on Institutional Remedies
Drawing a comparison between RERA and capital markets regulator SEBI, Hiranandani said, "Like we have SEBI for the capital markets, we have RERA. But the RERA's distinction is much more important because capital markets are for rich companies, RERA is for the poorest of poor who wants to buy a house." His comment underscores the stakes: RERA is uniquely positioned to affect India's expanding class of middle-income homebuyers.
Experts have advocated appointing subject-matter experts in RERA authorities, observing that "more subject matter experts must be appointed in the RERA authorities which would ensure that complex matters can be handled more effectively by the RERA authorities and the decisions passed by the authorities are more practical and informed." "In essence, RERA does not require dilution or abolition, it requires consistent enforcement and standardisation across states so that the relief envisioned under the law translates into tangible outcomes for homebuyers."
Hiranandani Group's Track Record
Hiranandani Group was established in 1978 by Niranjan Hiranandani and Surendra Hiranandani and is based in Mumbai. Hiranandani Developers is one of the leading developers in India and has 76 residential and commercial projects in its portfolio, out of which 72 projects are in Mumbai. With landmark developments like Hiranandani Estate, Thane and Hiranandani Gardens, Powai, the group now focuses on fresh launches in growing locations.
As a long-established developer with substantial exposure to RERA's functioning, Hiranandani's position carries weight within both the industry and regulatory discourse. His call for re-examination rather than abolition reflects a developer's interest in institutional credibility—effective regulation ultimately protects legitimate builders from predatory competition.
The Road Ahead
The February 2026 National Urban and Real Estate Development Conclave served as a platform for this broader conversation about RERA's future. The Real Estate (Regulation and Development) Act, 2016 has strengthened transparency, financial discipline, and consumer protection. The Unified RERA Portal and proposed national SOPs aim to improve uniformity across states, yet variations in rules, delays in enforcement, non-standard agreements, and data gaps continue to constrain consistent outcomes.
The Supreme Court's sharp language appears designed to force states and policymakers to act. Hiranandani's intervention signals that parts of the industry itself recognize that reform—not resistance—is the prudent path forward. Whether that translates into structural changes to staffing, timelines, and enforcement mechanisms remains to be seen.