RERA

What is RERA  Act in India?

The Act establishes a Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute resolution. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016.

What is the role of RERA?

The RERA Authority's primary function is to offer buyers relief by quickly resolving disputes. The Authority is also in charge of enforcing industry accountability and transparency. The government of every state was required to create a RERA Authority within one year of the RERA Act's implementation in 2016.