Everything you need to know about the RERA Act
RERA is an act of the Indian Parliament. The RERA Act aims to safeguard the interests of home buyers and to encourage investments in the property sector. The RERA Bill was approved by the Parliament’s Rajya Sabha on 10 March 2016, after which it was approved by the Lok Sabha on 15 March 2016. The Act entered into force on 1 May 2016. 59 out of the 92 sections of the Act were notified on 1 May 2016, while the remaining provisions entered into force on 1 May 2017. The State Governments have to notify their rules under the RERA Act, based on the model rules laid down in the central Act.… Read more