Experts say RERA rules would prevent Unitech-like situations

A court on Monday extended by 3 days the police custody of Sanjay Chandra in an alleged fraud case

Stringent norms under the much-awaited Real Estate (Regulation and Development) Act, 2016, or RERA, are expected to prevent the recurrence of Unitech-like cases, experts say.

The construction firm’s managing directors, Sanjay Chandra and Ajay Chandra, were arrested last week by the Economic Offences Wing (EOW) of the Delhi Police for alleged fraud related to a Gurugram-based real estate project. A Delhi court on Monday extended the police custody of Unitech Ltd promoter Ajay Chandra and Sanjay Chandra by three more days in an alleged fraud case related to a Gurugram-based real estate project.

According to EOW sleuths, the Chandras allegedly siphoned Rs