Real Estate (Regulation and Development) Act, 2016 (RERA)

This Act came into force on 25th March 2016 with the presidential assent. This enactment was brought into force to establish the Real Estate Regulatory Authority for regulation and promotion of real estate sector in India, to ensure sale of plot, apartment or building or the sale of real estate project in an efficient and transparent manner, to protect the interest of consumers in the real estate sector, to establish an adjudicatory mechanism for expeditious redressal, to establish an Appellate Tribunal to hear appeals from the decisions of the Real Estate Regulatory Authority (RERA) and adjudicatory officer.