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ARTICLE · 21 JULY 2016

Ground Realities To Be Considered While Framing Rules Under RERA Act

Khaitan & Co.
Khaitan & Co.
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Khaitan & Co.

Khaitan & Co.

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Sudip Mullick, Partner, Khaitan & Co is in charge of the Real Estate and Hospitality practice of the Firm and also specialises in construction disputes.

IndiaReal Estate and Construction
Sudip Mullick
Sudip Mullick
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Sudip Mullick, Partner, Khaitan & Co is in charge of the Real Estate and Hospitality practice of the Firm and also specialises in construction disputes. Mr Mullick has been with the Firm for about 2 decades and he is also a member of the Executive Committee of the Firm.

The Real Estate (Regulation and Development) Act, 2016 ("Act") has been enacted recently. Of the 92 sections in the Act, 59 have been notified on 26 April 2016 and came into force on 1 May 2016. The principal aim of the Act is to protect the interest of the allottees (purchaser of units in real estate projects). The Act applies to both residential and commercial real estate projects provided that such a project is constructed on land admeasuring atleast more than 500 square meters or the number of unit in such project are 8 or more. The Act is also applicable to ongoing projects in respect of which completion certificate has not been obtained.

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