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Real Estate (Regulation and Development) Act, 2016 received the assent of the President on 25th March 2016, which substantially amends the original Real Estate Bill, 2013.
This act will apply from a date to be notified in the official gazette. The Act largely seeks to protect the interest of the allottees/purchasers by promoting transparency, accountability, and efficiency in the construction and execution of real estate projects by promoters.
Key Highlights of the Real Estate Act, 2016 are given below: –
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