Real Estate (Regulation and Development) Act, 2016

Edition: 3rd edn., 2024

ISBN: 978-81-9746-918-3

Pages: 784

Author: CA. PRAVIN M. BANGAR

Part 1

The Real Estate (Regulation and Development) Act, 2016

Chronology of the events

Real Estate (Regulation & Development) Act, 2016 [RERA] — Implementation Progress Report

Objects of Real Estate (Regulation and Development) Act, 2016

The Real Estate (Regulation and Development) Act, 2016
(No. 16 of 2016)

CHAPTER I

PRELIMINARY

Section 1         Short title, extent and commencement

Section 2         Definitions

CHAPTER II

REGISTRATION OF REAL ESTATE PROJECT AND
REGISTRATION OF REAL ESTATE AGENTS

Section 3         Prior registration of real estate project with Real Estate Regulatory Authority

Section 4         Application for registration of real estate projects

Section 5         Grant of Registration

Section 6         Extension of Registration

Section 7         Revocation of Registration

Section 8         Obligation of Authority consequent upon lapse of or on revocation of registration

Section 9         Registration of Real Estate Agents

Section 10       Functions of Real Estate Agents

CHAPTER III

FUNCTIONS AND DUTIES OF PROMOTER

Section 11       Functions and duties of promoter

Section 12       Obligations of promoter regarding veracity of the advertisement or prospectus

Section 13       No deposit or advance to be taken by promoter without first entering into agreement for sale

Section 14       Adherence to sanctioned plans and project specifications by the promoter

Section 15       Obligations of promoter in case of transfer of a real estate project to a third party

Section 16       Obligations of promoter regarding insurance of real estate project (Section 16)

Section 17       Transfer of title

Section 18       Return of amount and compensation

CHAPTER IV

RIGHTS AND DUTIES OF ALLOOTTEES

Section 19       Rights and Duties of Allottees

CHAPTER V

REAL ESTATE REGULATORY AUTHORITY

Section 20       Establishment and incorporation of Real Estate Regulatory Authority

Section 21       Composition of Authority

Section 22       Qualifications of Chairperson and Members of Authority

Section 23       Term of office of Chairperson and Members

Section 24       Salary and allowances payable to Chairperson and Members

Section 25       Administrative powers of Chairperson

Section 26       Removal of Chairperson and Members from office in certain circumstances

Section 27       Restrictions on Chairperson or Members on employment after cessation of office

Section 28       Officers and other employees of Authority

Section 29       Meeting of Authority

Section 30       Vacancies etc., not to invalidate proceeding of Authority

Section 31       Filing of complaints with the Authority or the adjudicating officer

Section 32       Functions of Authority for promotion of real estate sector

Section 33       Advocacy and awareness measures

Section 34       Functions of Authority

Section 35       Powers of Authority to call for information, conduct investigations

Section 36       Power to issue interim orders

Section 37       Powers of Authority to issue directions

Section 38       Powers of Authority

Section 39       Rectification of orders

Section 40       Recovery of interest or penalty or compensation and enforcement of order, etc.

CHAPTER VI

CENTRAL ADVISORY COUNCIL

Section 41       Establishment of Central Advisory Council

Section 42       Functions of Central Advisory Council

CHAPTER VII