Introduction
The enactment of the Real Estate (Regulation and Development) Act, 2016 (“RERA”) marked a structural shift in the regulation of India’s real estate sector. Prior to RERA, the regulatory landscape was fragmented and largely reactive, relying on general contract law, consumer protection mechanisms, and state-level regulations that proved inadequate to address systemic issues such as project delays, diversion of funds, opaque disclosures, and asymmetric bargaining power between developers and homebuyers.
RERA introduced a sector-specific regulatory regime aimed at institutionalising transparency, financial discipline, and accountability in real estate development. Nearly a decade after its enactment, the law has reshaped industry practices, triggered significant litigation, and influenced investment patterns in the sector.