In a relief to home buyers, the Bombay High Court on Wednesday upheld the constitutional validity of the Real Estate (Regulation and Development) act, 2016 and the authority formed under it. A division bench of Justice Naresh Patil and Justice Rajesh Ketkar in their over 330- page judgement upheld various provisions of the act and the Constitution of the Maharashtra RERA authority. The RERA came into effect on May 1, a year after it was passed by both Houses of Parliament. As per the Act, developers, projects and agents had till July 31 to mandatorily register their projects with the Authority. Under RERA, each state and union territory will have its own Regulatory Authority (RA) which will frame regulations and rules as per the Act.

Source: dna December 06, 2017 07:23 UTC