Is the Supreme Court really going to abolish RERA? The answer is no. The Court has expressed strong displeasure not over the closure of RERA i.e. Real Estate Regulatory Authority, but over its weak functioning. According to the court, in many states RERA has become just a paper tiger, where orders are given but builders do not follow them. The Supreme Court wants RERA to get more power, the right to confiscate builder’s property and a Model Builder-Buyer Agreement to be implemented. The objective is clear, to protect the interests of home buyers and increase transparency in the real estate sector.
Supreme Court’s strict message: Will RERA end, or will it become stronger? | Money Live | The Supreme Court’s stern message: Will RERA be abolished, or will it become stronger?
