New Delhi: The Real Estate (Regulation and Development) Act, 2016 comes into force from Sunday, setting in motion rules and institutional infrastructure for protecting consumers and promoting the sector’s growth.
It sets to ensure credible transactions and time-bound projects. The key provisions are the early setting up of regulatory authorities with whom all projects have to be registered and appellate tribunals for adjudication. The authorities will have to decide on the complaints of buyers and developers in 60 days. — TNS
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