Section 73 of RERA : Section 73: Grants And Loans By Central Government

Explanation using Example

Imagine a scenario where the Real Estate Regulatory Authority (RERA) is planning to launch a new online system to streamline the process of registering real estate projects and agents. However, the Authority lacks sufficient funds to develop and implement this system. To address this funding gap, under Section 73 of The Real Estate (Regulation and Development) Act, 2016, RERA approaches the Central Government for financial assistance. Following this request, the Parliament appropriates the necessary funds in the budget, and the Central Government grants a sum of money to RERA as a loan or grant. This financial support enables RERA to successfully develop the online system, which ultimately benefits consumers and stakeholders in the real estate sector by enhancing transparency and efficiency.