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legislation Archive Friday, 25 March 2016

Real Estate (Regulation and Development) Act (RERA), 2016

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Citations are auto-generated; verify before publishing. The legislation classification is PolicyDhara's, not the source's.
 
  
 
Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
 
 
 
Summary
 
Established Real Estate Regulatory Authorities in each state to protect homebuyers and promote transparency. Mandated project registration, escrow accounts for 70% of funds, and penalties for delays.
 
  
 
 
Key Facts
 
 
 Type Legislation 
 
 Source Historical Record 
 
 Published Friday, 25 March 2016 
 
 Affected Population ~100 million urban housing shortage, 30 million rural 
 
 
 
 
Key Numbers
 
 
    PMAY: 4.13 crore houses total sanctioned 
    Urban housing shortage: 10 million units 
    Affordable Housing Fund: Rs 25,000 crore 
    PMAY-U: 1.18 crore houses sanctioned 
 
 
 
  
 
 
Key Authorities
 
 Ministry of Housing & Urban AffairsNHBSmart Cities MissionPMOCabinet Secretariat 
 
 
 
Key Stakeholders
 
 HomebuyersReal Estate DevelopersSlum DwellersUrban ResidentsMunicipal CorporationsCivil Servants 
 
 
 
Government Context
 
 
 NDA I BJP-led NDA 
 
 
 
  Centre-Right 
 
 
 Left Centre Right 
 
 
 
 
      
 
Explore Sectors
 
  Housing 33 tracked →  Urban Development 49 tracked →  Governance & Reform 211 tracked →  
 
  
 
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