Real Estate Development and Regulation Act, 2016

Real Estate sector is the one of the fastest growing sector in the India which has 4 major components – Housing, Retail, Hospitality and Commercial where the housing comprises 5-6 percent of India’s GDP. In this sector often project get delays due to lengthy procedures and compliance and hence ultimate buyers get affected. There are not less than thousands of cases where the developers cheats the buyers due to hidden conditions, delay in possession, etc. To regulate the sector it was necessary to have some binding law hence government passed The Real Estate and Regulation Act, 2016. Continue reading “Real Estate Development and Regulation Act, 2016”