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Abstract
The Real Estate Regulatory Authority Act (RERA) is a landmark event in the real estate sector in India. The Act aims to provide confidence to the buyer of a real estate property. How RERA benefits homebuyers in general and home loan borrowers in specific, is the aim of this article. RERA also helps the other stakeholders in the real estate market like banks, housing finance companies, etc. Various functions and the salient features of the RERA have been explained. Though the RERA is at the initial stage, it definitely will affect and regulate the real estate market over a period of time. Real estate sectors play an important role in delivering one of the basic needs of human beings. The sector has grown significantly in the recent past. Before implementation of RERA, the sector was largely unregulated and professionalism was lacking. RERA mainly aims to protect the interest of homebuyers and enhance transparency in the real estate sector.
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