Real Estate (Regulation and Development) Act

The Real Estate (Regulation and Development) Act, 2016, is Indian legislation that aims to protect homebuyers and regulate the real estate sector. It establishes a Real Estate Regulatory Authority (RERA) to ensure transparency, accountability, and timely completion of projects. Developers must register their projects, provide essential information, and adhere to standards. The Act also sets up a grievance redressal mechanism for buyers. Overall, it seeks to reduce fraud, increase trust, and promote fair practices in the real estate industry.