Real estate regulators in states/UTs dispose of 125,000 consumer complaints ...Middle East

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Real estate regulators in states/UTs dispose of 125,000 consumer complaints
source : Business Standard ( Middle East ) () 41
Real estate regulators in states and Union Territories have so far disposed of nearly 1.25 lakh consumer complaints against developers, according to the Economic Survey 2023-24. The Real Estate (Regulation & Development) Act, 2016, popularly known as RERA, was enacted to bring about much-needed reform in India's real estate sector. The main objective of RERA is to encourage greater transparency, citizen-centricity, accountability, and financial discipline, thus empowering home buyers and boosting the economy. The survey highlighted that all states/ Union Territories (UTs) have notified rules under RERA except Nagaland, which is in the process of notifying the rules. As of July 1, 2024, over

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