Act

RERA ACT 2016

Parliament of India has enacted Real Estate (Regulation and Development) Act, 2016 (RERA) on 10 March 2016 with the aim of protecting the rights and investments of home buyers. The RERA Act came into force on 1st May 2016 with 59 of 92 sections notified and Remaining provisions came into force on 1st May 2017. Owing to the new guidelines, every state is liable to establish Regulatory Authority (RERA) which will supervise all the activity of Real Estate sector. This Act has provided several rights to the home buyers and has also specified certain rules and regulations to be followed by all the builders & developers. In case of any wrongdoing by the builder or developer – the home buyer can also file a complaint to this authority i.e RERA. Read More...