Sunday, 7 May 2017

RERA Updates


Real Estate (Regulation and Development) Act, 2016 (the ‘Act’ or ‘RERA’) is an important and much talked about piece of legislation for the real estate sector of India. RERA proposes to establish a Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building or sale of real estate project, in an efficient and transparent manner. Further, the Act proposes to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal.

The Act partially came into force on April 4, 2016 and since then various states have formulated their respective rules under the Act for implementation of the Act in the respective states.


Under RERA Updates, we will provide a snapshot of what latest is happening. This note will provide a date wise implementation of the Rules by various states, following by updates commencing from April, 2017. 

Date
State/UT
Relevant Rules/notifications
4 April, 2016
_
October 22/26, 2016
Madhya Pradesh
October 27, 2016
Uttar Pradesh
October 29, 2016
Gujarat
October 29, 2016
Gujarat
October 31, 2016
Lakshadweep
October 31, 2016
Daman & Diu
October 31, 2016
Dadra and Nagar Haveli
October 31, 2016
Chandigarh
October 31, 2016
Andaman and Nicobar Islands
November 4, 2016
Karnataka
21st November, 2016
National Capital Territory of Delhi
Until the establishment of Regulatory Authority in National Capital Territory of Delhi, the Ministry of Urban Development hereby designates Vice Chairman, Delhi Development Authority as the Regulatory Authority
November 24, 2016
National Capital Territory of Delhi
National Capital Territory of Delhi Real Estate (Regulation and Development) (Agreement for Sale) Rules, 2016
National Capital Territory of Delhi Real Estate (Regulation and Development) (Agreement to Sell) Rules, 2016

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