The Real Estate Act, 2016

It was passed in 2016 with the objective of ensuring regulation and promotion of real estate sector in an efficient and transparent manner and to protect the interest of home buyers.

Core Features of the Act: It regulates transactions between buyers and promoters of real estate projects.

• It provides for establishment of state level regulatory authorities called Real Estate Regulatory Authorities (RERAs).
• Significance of the Act: Effectively regulates and promotes the development of real estate sector

Works as an adjudicating mechanism for speedy dispute redressal