About the Real Estate Act, 2016
The Foundation of Transparency in Indian Real Estate
Real Estate (Regulation and Development) Act
An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner.
It establishes an adjudicating mechanism for speedy dispute redressal and also establishes the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority.
The Act came into force on 1st May 2016 with 59 of 92 sections notified, and the remaining provisions coming into effect from 1st May 2017.