What are the salient features of Real Estate (Regulation and Development) Act, 2016?
Broadly speaking, the salient features of the Act are:
i. Establishment of Real Estate Regulatory Authority
ii. Registration of Real Estate Projects and Registration of Real Estate Agents
iii. Mandatory Public Disclosure of all project details.
iv. Functions and Duties of Promoter
v. Compulsory deposit of 50 percent amount
vi. Adherence to declared plans
vii. Functions of Real Estate Agents
viii. Rights and Duties of Allottees
ix. Functions of Real Estate Regulatory Authority
x. Establishment of Real Estate Appellate Tribunal
xi. Punitive Provisions
xii. Bar of Jurisdiction Courts
xiii. Power to make Rules and Regulations