RERA: Law of the Land?
It is nearly a year since the Indian realty entered a new paradigm with the on-set of nationwide implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA). As the first anniversary of RERA draws closer, so does the knowledge that the implementation across states is nowhere close to its goal. While the state-level dilution of the Act on aspects like definition of ongoing projects and punishment for violations is well observed, in this white paper we have delved into the establishment of the RERA machinery across the country. Taking stock of the current scenario, some issues have come to light that are vital for the implementation of RERA in the true letter and spirit of the Act.
A LOT of ground to be covered!
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NBM&CW May 2018
