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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

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