RERA stands for Real Estate Regulatory Authority. It has come into existence as per the Real Estate (Regulation and Development) Act, 2016, which aims to protect the home purchasers and also boost the real estate investments.
The bill of this Parliament of India Act was passed on 10th March, 2016 by the Upper House (Rajya Sabha). The RERA Act was effective on and from 1st May, 2016. At that time, out of 92 sections only 52 were notified. All the other provisions were effective on and from 1st May, 2017.
