Real Estate (Regulation and Development) Act (RERA), 2016
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 state-level Real Estate Regulatory Authorities to protect homebuyers, promote transparency, and ensure timely delivery of real estate projects. Required registration of all projects and agents, escrow for buyer funds.
Key Facts
Type Legislation
Source Historical Record (Curated)
Published Sunday, 1 May 2016
Affected Population ~500 million urban residents, 8,000+ cities/towns
Key Numbers
PMAY-U: 1.18 crore houses sanctioned
Smart Cities Mission: 100 cities
Metro rail: 900+ km operational
20 million central + state government employees
Key Authorities
Key Stakeholders
Government Context
NDA I BJP-led NDA
Left Centre Right