Real Estate Bill excludes Jammu and Kashmir from its scope
This Bill aims to regulate and promote the real estate sector by ensuring the efficient and transparent sale of plots, apartments, or buildings. It seeks to protect the interests of consumers in the real estate sector.
The Bill applies to real estate promoters (developers), real estate agents, allottees (buyers/consumers), and the Real Estate Regulatory Authority. It extends to the whole of India except the State of Jammu and Kashmir.
- Mandatory prior registration of real estate projects and real estate agents with the Real Estate Regulatory Authority.
- Prohibition on promoters taking deposits or advances without first entering into an agreement of sale.
- Establishment of a Real Estate Regulatory Authority to regulate the sector, with powers to call for information, conduct investigations, and issue directions.
- Establishment of a Real Estate Appellate Tribunal to hear appeals from the Authority's decisions.
- Establishment of a Central Advisory Council.
- Provisions for penalties and offences for non-registration, contravention of rules, and wilful failure to comply with orders by promoters or allottees.
- Obligations on promoters regarding the veracity of advertisements and adherence to approved plans.
Written from the document by AI, and checked against it. The original below is authoritative.
Where this law is now — Became law (Act)
The original document
Bill passed rs
2016-03-10
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Document details
| Official title | THE REAL ESTATE (REGULATION AND DEVELOPMENT) BILL, 2016 |
| Source body | Parliament of India — Bills (Lok Sabha & Rajya Sabha) |
| Reference number | XLVI |
| Status | closed (bill) |
| Year | 2013 |
| Closing date | — |
| Documents | 3 |