The Real Estate (Regulation and Development) Act, 2016.
The Real Estate (Regulation and Development) Act, 2016 is a comprehensive legislation to regulate the real estate sector in India.
Summary
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.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Definitions | Open |
| 3 | Section 3: Prior Registration Of Real Estate Project With Real Estate Regulatory Authority | Open |
| 4 | Section 4: Application For Registration Of Real Estate Projects | Open |
| 5 | Section 5: Grant Of Registration | Open |
| 6 | Section 6: Extension Of Registration | Open |
| 7 | Section 7: Revocation Of Registration | Open |
| 8 | Section 8: Obligation Of Authority Consequent Upon Lapse Of Or On Revocation Of Registration | Open |
| 9 | Section 9: Registration Of Real Estate Agents | Open |
| 10 | Section 10: Functions Of Real Estate Agents | Open |
| 11 | Section 11: Functions And Duties Of Promoter | Open |
| 12 | Section 12: Obligations Of Promoter Regarding Veracity Of The Advertisement Or Prospectus | Open |
| 13 | Section 13: No Deposit Or Advance To Be Taken By Promoter Without First Entering Into Agreement For Sale | Open |
| 14 | Section 14: Adherence To Sanctioned Plans And Project Specifications By The Promoter | Open |
| 15 | Section 15: Obligations Of Promoter In Case Of Transfer Of A Real Estate Project To A Third Party | Open |