Published Paper Details:

The Real Estate (Regulation and Development) Act, 2016 (RERA) is a historic piece of legislation designed to improve consumer protection, accountability, and transparency in the real estate industry in India. This research thoroughly assesses the effects of RERA on the real estate sector since its implementation, emphasizing the effectiveness of the law in resolving persistent problems such project delays, financial irregularities, and disputes between developers and buyers. The act's requirements for escrow account use, required project registration, and severe penalties for non-compliance--all of which work to protect the interests of consumers and encourage on-time project delivery--are among the important features that are examined. The study also emphasizes important implementation obstacles that stakeholders must overcome, such as states' delayed adoption, differing interpretations of RERA rules, and early compliance barriers. These difficulties have affected the speed and consistency of RERA's implementation around the nation, which has affected the law's overall efficacy. The report provides insights into the changing dynamics of the real estate market post-RERA, including shifts in investor sentiment and consumer confidence, by utilizing empirical data, case studies, and stakeholder viewpoints. The report culminates in suggestions for fortifying the RERA's regulatory structure, refining procedures for resolving disputes, and raising stakeholder consciousness in order to maintain and optimize its favorable effects on the Indian real estate sector.