RERA l REAL ESTATE (REGULATIONS AND DEVELOPMENT) ACT, 2016 The Real Estate (Regulation and Development) Act, 2016 paves way for empowering all stakeholders engaged in the business of Real Estate, be it consumers, real estate developers and agents amongst others. All commercial and residential real estate including plots, apartments, shops, offices and other such properties are covered under the Act. The Act comprises of themes based on regulatory oversight on real estate developers and real estate agents, purchaser’s rights and duties, real estate developers’ function, duties and obligations, real estate agent’s duties and functions and dispute resolution. The Real Estate (Regulations and Development) Act, 2016 and the rules formulated by the State Governments have set up a much-needed framework that will not only empower the consumer but also make the industry more competitive and organized.