Plight of Buyers and Consumers and Respite under the Real Estate (Regulation and Development Act 2016)

Abstract

The real estate sector plays a key role in fulfilling the need and demand for housing and infrastructure in the country. While this sector has grown significantly in recent years, it has been largely unregulated, thereby reducing the consumers to state of helplessness. Hence, a need was felt to regulate this sector. Aspiring for the world-class facilities to its citizens by providing home for all, developing smart cities, and advancement in infrastructure development, the Indian government came up with the central legislation, namely, Real Estate Regulation and Development) Act, 2016, to protect the interests of consumers