The Real Estate (Regulation and Development) Act, 2016.

The Real Estate (Regulation and Development) Act, 2016 aims to establish the Real Estate Regulatory Authority (RERA) to regulate and promote the real estate sector in India. It also aims to protect the interests of homebuyers by ensuring transparency, accountability, and timely delivery of projects. The Act mandates that all real estate projects must be registered with RERA and provides for penalties for non-compliance. It also sets up a mechanism for the resolution of disputes between buyers and developers through the establishment of Real Estate Appellate Tribunals. The Act has far-reaching implications for the real estate sector in India and is expected to bring about significant reforms.