The Real Estate (Regulation and Development) Act � 2016 also known as RERA was passed by the parliament on May 2016 and a timeline upto 1st May 2017 was set to formulate law and rules under this act. The act is now operational with a great relief it has brought to the buyers of the homes and aims to impose penalties on the delays caused by the errant builders. The Act is aimed at protecting the buyers of homes from developers who are fraud.
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