Haryana RERA-Panchkula chairman calls for predictive monitoring of projects in RERA 2.0
Parneet S. Sachdev, chairman of Haryana RERA-Panchkula, said real estate regulation must shift from post-facto complaint resolution to technology-led predictive monitoring. Speaking at an ASSOCHAM conference in New Delhi, he outlined plans to use AI, real-time data and drones to identify project str
NEW DELHI – Real estate regulation in India needs to move from post-facto complaint handling to predictive monitoring of projects, said Parneet S. Sachdev, chairman, Haryana RERA-Panchkula. Speaking at ASSOCHAM's real estate conference in New Delhi, Sachdev said the first decade of RERA created a statutory architecture of trust, while the next phase, or RERA 2.0, must create a technological architecture of trust.
“We want to go beyond post-mortem. A project fails, then complaints come, and then we try to resolve it. We want to know eight to 10 months in advance if a project is not going the way it should,” he said.
According to Sachdev, artificial intelligence, data analytics, drones, smart monitoring systems and real-time integration with developer ecosystems can help regulators identify early warning signals in stressed projects. “If I know eight to 10 months before that a project is getting into trouble, we can do a lot more to prevent it from failing,” he said.
Speaking about Haryana RERA-Panchkula, Sachdev said the authority had over 3,500 pending complaints when he joined. “RERA was supposed to give justice in 60 to 90 days, and suddenly we were giving justice in three years or two years,” he said. The authority has worked over the past three years to change its internal structure, bring in technology and improve accountability. According to him, Haryana RERA-Panchkula is aiming to deliver justice in most cases within 60 days by March next year.
He added that the role of the regulator is not to deliver moral victories but to ensure that a homebuyer either receives the apartment or gets the money back. “As a regulator, I am not here to deliver moral victories or psychological comfort. I am here to deliver his money back or to give him his apartment,” he said.
Sachdev said his office earlier took around 30 days to check applications, while AI tools can now identify deficiencies in minutes by checking submissions against the authority’s standard operating procedures. He also said the central government is developing a common platform for RERAs, and Haryana RERA-Panchkula has already developed a system that can be integrated into such a platform. A centralised RERA system connected with real-time developer data could allow regulators to monitor thousands of projects simultaneously, he said.
