The Real Estate Regulation and Development Act 2016
The Real Estate Regulation and Development Act 2016 is now become a law After Rajyasabha Passes the Bill. The Act setting in motion the process of making operational rules and protecting the rights of buyers and sellers.
The Notification states that Central Govt and State Govt have to formulated these act in maximum period of six month that is 31st October 2016.
The eight year long efforts in this regard. A proposal for a law for Real Estate was first mooted at the National Conference of Housing Ministers of States and Union Territories in January, 2009.