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Bare Acts

The Real Estate (Regulation and Development) Act, 2016.

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 and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.

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Act Details

Act Number:

16

Act Year:

2016

Location:

Enactment Date:

3/25/2016

Enforcement Date:

01-05-2016

Ministry:

Ministry of Housing and Urban Affairs

All Section List (RERA)

PRELIMINARY

Section 1 to Section 2

Section 1

Short title, extent and commencement.

Section 2

REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENTS

Section 3 to Section 10

Section 3

Prior registration of real estate project with Real Estate Regulatory Authority.

Section 4

Application for registration of real estate projects.

Section 5

Grant of registration.

Section 6

Extension of registration.

Section 7

Revocation of registration.

Section 8

Obligation of Authority consequent upon lapse of or on revocation of registration.

Section 9

Registration of real estate agents.

Section 10

Functions of real estate agents.

FUNCTIONS AND DUTIES OF PROMOTER

Section 11 to Section 18

Section 11

Functions and duties of promoter.

Section 12

Obligations of promoter regarding veracity of the advertisement or prospectus.

Section 13

No deposit or advance to be taken by promoter without first entering into agreement for sale.

Section 14

Adherence to sanctioned plans and project specifications by the promoter.

Section 15

Obligations of promoter in case of transfer of a real estate project to a third party.

Section 16

Obligations of promoter regarding insurance of real estate project.

Section 17

Transfer of title.

Section 18

Return of amount and compensation.

RIGHTS AND DUTIES OF ALLOTTEES

Section 19

Section 19

Rights and duties of allottees.

THE REAL ESTATE REGULATORY AUTHORITY

Section 20 to Section 40

Section 20

Establishment and incorporation of Real Estate Regulatory Authority.

Section 21

Composition of Authority.

Section 22

Qualifications of Chairperson and Members of Authority.

Section 23

Term of office of Chairperson and Members.

Section 24

Salary and allowances payable to Chairperson and Members.

Section 25

Administrative powers of Chairperson.

Section 26

Removal of Chairperson and Members from office in certain circumstances.

Section 27

Restrictions on Chairperson or Members on employment after cessation of office.

Section 28

Officers and other employees of Authority.

Section 29

Meetings of Authority.

Section 30

Vacancies, etc., not to invalidate proceeding of Authority.

Section 31

Filing of complaints with the Authority or the adjudicating officer.

Section 32

Functions of Authority for promotion of real estate sector.

Section 33

Advocacy and awareness measures.

Section 34

Functions of Authority.

Section 35

Powers of Authority to call for information, conduct investigations.

Section 36

Power to issue interim orders.

Section 37

Powers of Authority to issue directions.

Section 38

Powers of Authority.

Section 39

Rectification of orders.

Section 40

Recovery of interest or penalty or compensation and enforcement of order, etc.

CENTRAL ADVISORY COUNCIL

Section 41 to Section 42

Section 41

Establishment of Central Advisory Council.

Section 42

Functions of Central Advisory Council.

THE REAL ESTATE APPELLATE TRIBUNAL

Section 43 to Section 58

Section 43

Establishment of Real Estate Appellate Tribunal.

Section 44

Application for settlement of disputes and appeals to Appellate Tribunal.

Section 45

Composition of Appellate Tribunal.

Section 46

Qualifications for appointment of Chairperson and Members.

Section 47

Term of office of Chairperson and Members.

Section 48

Salary and allowances payable to Chairperson and Members.

Section 49

Removal of Chairperson and Member from office in certain circumstances.

Section 50

Restrictions on Chairperson or Judicial Member or Technical or Administrative Member on employment after cessation of office.

Section 51

Officers and other employees of Appellate Tribunal.

Section 52

Section 53

Powers of Tribunal.

Section 54

Administrative powers of Chairperson of Appellate Tribunal.

Section 55

Vacancies, etc., not to invalidate proceeding of Appellate Tribunal.

Section 56

Right to legal representation.

Section 57

Orders passed by Appellate Tribunal to be executable as a decree.

Section 58

Appeal to High Court.

OFFENCES, PENALTIES AND ADJUDICATION

Section 59 to Section 72

Section 59

Punishment for nonregistration under section 3.

Section 60

Penalty for contravention of section 4.

Section 61

Penalty for contravention of other provisions of this Act.

Section 62

Penalty for nonregistration and contravention under sections 9 and 10.

Section 63

Penalty for failure to comply with orders of Authority by promoter.

Section 64

Penalty for failure to comply with orders of Appellate Tribunal by promoter.

Section 65

Penalty for failure to comply with orders of Authority by real estate agent.

Section 66

Penalty for failure to comply with orders of Appellate Tribunal by real estate agent.

Section 67

Penalty for failure to comply with orders of Authority by allottee.

Section 68

Penalty for failure to comply with orders of Appellate Tribunal by allottee.

Section 69

Offences by companies.

Section 70

Compounding of offences.

Section 71

Power to adjudicate.

Section 72

Factors to be taken into account by the adjudicating officer.

FINANCE, ACCOUNTS, AUDITS AND REPORTS

Section 73 to Section 78

Section 73

Grants and loans by Central Government.

Section 74

Grants and loans by State Government.

Section 75

Constitution of Fund.

Section 76

Crediting sums realised by way of penalties to Consolidated Fund of India or State account.

Section 77

Budget, accounts and audit.

Section 78

MISCELLANEOUS

Section 79 to Section 92

Section 79

Bar of jurisdiction.

Section 80

Cognizance of offences.

Section 81

Section 82

Power of appropriate Government to supersede Authority.

Section 83

Powers of appropriate Government to issue directions to Authority and obtain reports and returns.

Section 84

Power of appropriate Government to make rules.

Section 85

Power to make regulations.

Section 86

Laying of rules.

Section 87

Members, etc., to be public servants.

Section 88

Application of other laws not barred.

Section 89

Act to have overriding effect.

Section 90

Protection of action taken in good faith.

Section 91

Power to remove difficulties.

Section 92