Answer ( 1 )

  1. RERA came into existence on May 1, 2016. The RERA bill was passed in Rajya Sabha on March 10, 2016 and it was cleared in Lok Sabha on March 15, 2016.

    RERA or Real Estate Regulation and Development Act was brought into existence to regulate the real estate market and bring transparency and accountability into it. Nowadays, any RERA approved project holds high value and is considered to be legally constructed. RERA approved projects usually see good price appreciation and are believed to be good quality projects.


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