A landmark Calcutta High Court judgment has significantly bolstered the powers of the Real Estate Regulatory Authority (RERA), reinforcing its role in protecting home buyers and ensuring better regulatory oversight in the real estate sector.
ReraReal EstateHome BuyersCalcutta High CourtRegulatory AuthorityReal Estate NewsFeb 25, 2025
RERA stands for the Real Estate Regulatory Authority. It is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016, to promote transparency, accountability, and fairness in the real estate sector.
The ruling reinforces RERA’s authority to enforce the Real Estate (Regulation and Development) Act, 2016, by allowing it to impose penalties, suspend licenses, and initiate legal action against developers who violate the act.
The enhanced powers of RERA provide better protection for home buyers by allowing the authority to intervene in cases of delays, fraud, and other issues, ensuring that developers adhere to agreed timelines and standards.
The decision is expected to lead to a more regulated and transparent market, encouraging developers to adopt professional practices and higher standards, thereby fostering a more sustainable and thriving real estate industry.
Home buyers should be aware that RERA is now better equipped to address their concerns and ensure that their rights are protected. This includes the ability to resolve disputes and enforce compliance by developers.
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