RERA & Practitioners
Vinit D Gada
Background
It’s been 8 years this central law has got implemented fully to protect the interest of Flat buyers. Previously homebuyers had tools like consumer laws, state governed home buyers law, IPC, etc to claim remedies for their disputes. RERA law has not replaced these laws. Keeping certain minor anomalies aside the previous law still prevails. On the other side, Real Estate Developers were required to take number of approvals and do compliances of various departments. The RERA department approval and compliances have got added to their kitty.
The law is enacted under the Concurrent list of seventh schedule of Constitution. However it empowers every state government to make rules, establish Authority (Real Estate Regulatory Authority), establish REAT (Real Estate Appellant Tribunal), issue directions, etc. In case of union territories the similar powers are vested with central government or union territory government or central ministry .......