The Real Estate Regulatory Authority Act, 2016 (hereinafter referred to as RERA Act) intends to provide efficiency and transparency to the real estate market, with one of the key priorities being to defend the interests of purchasers in the real estate sector.

The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.

Enacting of the RERA Act, 2016 made registration and duties of promoters and real-estate agents compulsory. The reason why the process of registration and duties of the mediator are specified is accountability and regulating promoters and real estate agents through a supervisory body.

Real Estate Regulatory Authority Act, 2016 (hereinafter referred to as “RERA Act”) basically aims to bring efficiency and transparency to the real estate industry, and one of the main priority to protect the interest of the buyers in the real estate sector.

Prior to the RERA Act coming into force, the real estate sector in India was mostly unregulated, with no standardization of business operations or transactions. Due to a lack of a legal framework, home buyers/allottees were often confronted with issues such as project delays, price increases, and poor building quality.

Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.

RERA in J&K will secure the interest of home buyers as well as put an end to the malpractices by the agents or builders improvising the condition of the real estate sector.

MahaRERA has taken an extra step to ensure completion of struck and delayed projects. MahaRERA asked all the developers to handover the project to homebuyer.

MOFA belongs to such class of such legislation that were more regulatory in nature, instead RERA creates an environment for the functioning and development of real estate sector.

The RERA Act under its ambit provides for the execution in the form of issuance of RC or better known as Recovery Certificate u/s 40 of RERA Act.

The Uttar Pradesh RERA Authority keeping up with the spirit of the Real Estate Regulation and Development. That 7th Conciliation Forum of NCR was held by the Uttar Pradesh Real Estate Regulatory Authority recently wherein for the first time a settlement was achieved between the developer company Supertech and 14 Homebuyers.

The hope of Ramkrishna Shard Parsodkar and his wife was shattered in to pieces when the builder failed to give possession after years of booking. That after being tormented at the hands of the builder, the couple was forced to approach the highest Consumer court of the county.

The Haryana government amends the Haryana Rera rules in order to bring the power of refund within the purview of Rera authority established at Panchkula and Gurgaon

Hundreds of buyers in Karnataka have been left in the lurch after paying for their dream homes but are yet to receive possession of their flats.

This initiative by RERA will prove to be very fruitful to the homebuyers whose hard-earned money is stuck installed project wherein the builder is absconding or in jail.