September 2017 \ News \ LEGAL COLUMN ON REAL ESTATE

Advocate Kamal K Anand gives an overview of the Impact of RERA on various sectors

  • Mr Kamal K Anand

The Real Estate Act 2016 has come into effect w.e.f. 1st May, 2017

RERA has been implemented with a prime agenda to ensure that the sales of properties are in an efficient and transparent manner. Ultimately defending the interest of consumers, RERA has established a mechanism for every category and department of the sector. The builders are the base of the real estate sector as they bridge the gap between the construction ability and the buyers need. RERA ushers in transparency, accountability and efficiency in the sector. This new Act impacts the various sectors and segments of Indian society in many ways. Herein are the various sectors/segments which are going to be impacted.