RERA Full Form | What Does RERA Stand For?

RERA: Real Estate Regulatory Authority

RERA Full Form

RERA full form stands for Real Estate Regulatory Authority. The Real Estate (Regulation and Development) Act, 201 is an Act of the Parliament of India that provides protection to home buyers and at the same time helps to increase investment in the real estate industry.

The RERA Act 2016 is divided into 10 chapters, which are further classified into 92 sections.

Brief Explanation

The law establishes a real estate regulatory authority (RERA) in each state to regulate the real estate sector and also acts as an immediate decision-making body to resolve disputes. It was passed by the Rajya Sabha on March 10, 2016, and by the Lok Sabha on March 15, 2016.

The law came into force on 1 May 2016, notifying 61 out of 92 sections. The remaining provisions came into force on 1 May 2017. The law requires the central and state governments to notify regulations within six months.

Brief History

  • The Real Estate Regulatory Authority (RERA) Bill was introduced in 2013.
  • The bill was referred to a selection committee, which submitted its report in July 2015.
  • In December 2015, the Union Cabinet of India approved 20 major amendments to the Bill based on the recommendations of the Rajya Sabha Committee, which examined the Bill.
  • The Bill was passed by the Rajya Sabha on March 10, 2016, and by the Lok Sabha on March 15, 2016.

What Is The Full Form Of RERA?

RERA full form stands for Real Estate Regulatory Authority. It is an Act of the Parliament of India that provides protection to home buyers and at the same time helps to increase investment in the real estate industry. It was passed by the Rajya Sabha on March 10, 2016, and by the Lok Sabha on March 15, 2016.

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