WHAT IS RERA ACT
The Real Estate Regulation and Development Act of the year 2016 gave rise to the Real Estate Regulatory Authority, which was established and initiated to safeguard and protect the homebuyers as well as encourage the investments in connection with real estate investments. On 10 th March, 2016, the Rajya Sabha, the Upper House, passed this particular bill, which became the Parliament of India Act. The particular Act came into force on 1 st May, 2016. RERA Act: Objectives Protection of the Consumer: By guaranteeing and ensuring the procedures equitably, disseminating information within time frame, as well as mediating and resolving conflicts and disputes between purchasers as well as the developers, the RERA Act aims to protect and safeguard the interests of the homebuyers. Procedure with Transparency: By asking for the developers to disclose all the specifics of the project, such as the timetables of the project, legal approvals, as well as any financial information, it see...