The Rera Versus Sarfaesi Supremacy

1. INTRODUCTION

The Indian legal landscape is so vast that at times different legislations which may deal with a common subject matter end up conflicting with each other. Such conflict results in no lesser than a completely different but evolved jurisprudence, with the goal to achieve the objective under that particular legislation. This also satisfies one of the principles of law that suggests that a law needs to keep evolving as per the need. On these lines, let us discuss one of those conflicts– Real Estate (Regulation and Development Act), 2016 ("RERA") versus Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI"). As these 2 (two) legislations play an important role in the real estate industry, it becomes important to understand how these legislations can impact the overall functioning of the market.