Real Estate (Regulation and Development) Act 2016 (1) - PowerPoint PPT Presentation

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Real Estate (Regulation and Development) Act 2016 (1)

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Process of RERA Registration and Documentation.RERA stands for Real Estate Regulatory Authority and is established under the Real Estate (Regulation and Development) Act.PROJECT REGISTRATION. Promoters/Developers may click here to register their project. – PowerPoint PPT presentation

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Title: Real Estate (Regulation and Development) Act 2016 (1)


1
Real Estate (Regulation and Development) Act
2016
www.Meralegal.com
9820927758
2
Why This Act is Required?
  • Real Estate and the housing sectors were highly
    unregulated sectors
  • Lack of frequency under projects
  • No proper data about the builder
  • To protect the interest consumers in the Real
    Estate Sector and to establish an adjusting
    mechanism for
  • speedy dispute

3
  • The Real Estate (Regulation and Development) Act
    2016 is an Act of the government in India which
    attempts to defend home buyers as well as help
    boost investments in the real estate industry
  • The bill was transferred by the Raja Sabha on
    10TH March 2016 and by the Lok Sabha on 15 March
    2016

4
  • The Act came into force on 1 May 2016 with 69 of
    92 sections notified.
  • The Central and state government are liable to
    notify the Rules under the Act within a statutory
    limit of six months.
  • Applicable to the whole of India except Jammu and
    Kashmir
  • Real estate regulatory authority is the
    governing authority.
  • The law is not Retrospective.

5
  • The Act prevents unaccounted capital from being
    pumped into the sector.
  • As of now, 70 percent of the money has to be
    invested in bank accounts through cheques.
  • A profit for consumers included in the Act is
    that
  • manufacturers will have to quote prices
    based on

6
1. Standardized Carpet Area
2. Builders Will Be Held Responsible for Any
Defect/Fault in The Construction
4. Right to Information About the Property
Benefits Of Rera Registration RERA REGISTRATION
3. Grievances Will Be Addressed and Solved
Quickly
7
Functions Of RERA Authority
  • Register and Regulate
  • Publish and Maintain Records
  • Maintain Database of Promoters
  • Maintain Database of Real Estate Agents
  • Fix Regulations

8
THIS PRESENTATION IS BROUGHT TO YOU BY
Website
9820927758
MeraLegalCare_at_gmail.com
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