RERA which stands for The Real Estate (Regulation and Development) Act, 2016 was enforced in India from 1 May, 2017. The major focus of the Act was to check the growing cases of builder’s delayed possessions and defaults and safeguard the interest of the buyers.
RERA aims at preventing the interest of homebuyers and instill transparency in the real estate sphere. All States, barring a few, have replicated the regulations under Central RERA with slight discrepancies at some places. For a homebuyer, it is important that they know the key provisions of the Act prior to investing in real estate.
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