The real estate sector plays a crucial role for housing and infrastructure in the country. Inspite of the high growth in the sector, it has largely remained unregulated, without professionalism and lack of adequate consumer protection.
This has lead to an unhealthy growth of the industry, emphasizing the need for Government regulation.
RERA seeks to bring transparency and accountability to the real estate sector. It is now mandatory for Real Estate Projects and Real Estate Agents/Intermediaries to register.