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All about RERA

 

Introduction to RERA

 

The Real Estate (Regulation and Development) Act, 2016 (RERA) was implemented across the country on 1 May, 2017. The Act aims to instill transparency in real estate transactions and make the otherwise unregulated sector a more credible investment tool. It also aims to establish greater accountability, reduce fraudulent practices and keep the exorbitant transaction costs under control.

 

The norms under RERA have been formulated by the Central government for the six Union Territories (UTs) and replicated by States with few alterations. 

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