RERA:The Real Estate Act 2017

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The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016. The Act came into force from 1 May 2016 with 59 of 92 sections notified.Remaining provisions will come into force from 1 May 2017.The Central and state governments are liable to notify the Rules under the Act within a statutory period of six months.