Real Estate Regulation Act (RERA), 2016: Implementation and Issues
Keywords:
Real estate, housing sector, regulatory mechanismAbstract
This research paper aims to study implementation and related issues about the Real Estate Regulation Act. The Real Estate sector is of prime importance from individual as well as national importance and to regulate the sector and to reduce the ambiguity to the customers, RERA (Real Estate Regulation Act) was implemented in the year 2017. The act provides various provisions, which focuses on various issues of promoters, builders, real estate agents and customers as well. The act is a remarkable change in improving the efficiency of the government in regulating the Real Estate Sector. This focus on transparency, safety, imposes penalties on errant builders and follows the regulatory mechanism in the field. The current issues from the metro cities like New Delhi and Mumbai are also described in this paper.
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