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

The RERA is intended to achieve the following objectives:

• Ensure accountability towards allottees and protect their interest;
• Infuse transparency, ensure fair-play and reduce frauds and delays;
• Introduce professionalism and pan India standardization;
• Establish symmetry of information between the promoter and allottees;
• Impose certain responsibilities on both promoter and allottees;
• Establish regulatory oversight mechanism to enforce contracts;
• Establish fast-track dispute resolution mechanism;
• Promote good governance in the sector which in turn would create investor confidence;