*M.com Scholar, Department of Commerce, S.N.College, Kollam, India. Email id: annmary.alexander93@gmail.com
Online published on 15 June, 2017.
The real estate sector, which was earlier a free sector both unorganized and unregulated, will now be under the radar of a regulatory authority. After years of waiting, finally there is a ray of hope for helpless home-buyers in the country in the form of RERA (Real Estate Regulation and Development Act), which became effective from May 1, 2017. The Act is designed and framed to empower the buyers and curb the malpractices in this sector. It aims to put an end to all the building law violations, illegal transactions and other discriminatory activities. It ensures to bring about the transparency, accountability and efficiency to uplift and promote the real estate sector.
RERA Act, Real estate sector, curbs malpractices, promotes transparency and accountability
