Key Highlights of RERA after 2 years of Implementation

RERA was introduced in 2016 by the Indian Government after much fanfare to protect the buyers as well as increase investment in the Real Estate sector. The law establishes a Regulatory Authority in each state for the regulation of real estate sector, which was missing earlier.

The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016 while it came into force on 1 May 2016.

Although the law is still relatively new, RERA with the addition of GST has been touted to make the sector more organized. 

Read this Slideshare presentation to know the important factors that buyers must be aware with regards to this law: