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In India, the real estate sector has been one of the biggest wealth creators for most investors since the turn of the century. To eliminate the information asymmetry that existed in the real estate sector and to ensure that the sector maintains the strong growth, the incumbent government had brought in the necessary legislation for the real estate sector – the Real Estate (Regulation and Development) Act, 2016.
This act empowers all stakeholders in real estate sector, such as consumers, developers, brokers/intermediaries and more by bringing much-needed transparency and accountability to place greater emphasis on planning and implementing clear guidelines of doing business in the real estate sector.