 "home buyer, real estate, RERA")
The Real Estate (Regulation and Development) Act, 2016, or RERA came into effect from May 1, 2017.
The Act came into force after home buyers had been demanding a check on real estate developers who delayed delivery of projects by years. RERA aims to give them a safety net. Its real intention is to protect consumer interests and also make sale or purchase of real estate more efficient and transparent.
RERA also aims to establish an adjudicatory mechanism for settling disputes.
