An Empirical Approach of RERA Act from Home Buyers’ Standpoint

Abstract

Real Estate Regulatory Authority (RERA) Act, 2016 has been enacted to standardize real estate industry which was earlier an unorganized sector and with an aim to promote such sector for the purpose to increase real estate investment in India in an efficient and transparent manner and it’s vital aspect is to protect the interest of consumers by selling real estate project or plot, flats, apartment or building or services by the promoters to customers and helps in establishing a proper adjudicating system has been set up to ensure quick resolution of issues and an Appellate Tribunal has been established to hear appeals (higher up in the hierarchy) regarding decisions, directions, or orders made by the Real Estate Regulatory Authority.