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ARTICLE · 08 MAY 2019

RERA Regime -Teething Troubles

Argus Partners
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On the value of owning a property, Franklin D. Roosevelt once said that "Real Estate cannot be lost or stolen, nor can it be carried away.

IndiaReal Estate and Construction
Nidhi Arya
Nidhi Arya
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INTRODUCTION

On the value of owning a property, Franklin D. Roosevelt once said that "Real Estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid in full, and managed with reasonable care, it is about the safest investment in the world." The truth of this statement is unavoidable even today, as the scurry to own a home is at an all time high. In this respect, with the advent of the Real Estate (Regulation and Development) Act, 2016 ("RERA"), we now have a central piece of legislation governing the inter se rights and obligations of all key players in the real estate industry, which was heretofore largely regulated by the local laws of each State.

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