Ministry of Housing and Urban Affairs, Government of India anacted an act namely Real Estate (Regulation & Development) act, 2016 to safeguard the right of the citizen who are interested to buy a dream house. Under this act all the projects to be constructed or developed by promoter & Developer should be registered first. Real Estate agents also have to be registered under this act.
As per the provision of the act, there will be a authority comprising of Chairman and minimum 2(two) Members. There will also be a Appellate Tribunal. Their will be adjudicating officer to be appointed by RERA in consultation with appropriate Government. Allottees may lodge complaint to the Real Estate Regulatory Authority as per the provision of the Act.
Welcome to RERA
The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act came into force from 1 May 2016.
The Purpose of this Act is:
To establish the Real Estate Regulatory Authority for regulation and promotion of the Real Estate sector.
To ensure transparency in projects.
To protect the interest of consumers in the Real Estate Sector and to establish an adjudicating mechanism for speedy dispute redressal.
To provide proper information about the Builder.
Provide recommendations to appropriate Government on in matters relating to the development & promotion of real estate sector.