The Real Estate (Regulation and Development) Act, 2016

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.

BE it enacted by Parliament in the Sixty-seventh Year of the Republic of India as follows

 

CHAPTER I PRELIMINARY

Section 1 "Short title, extent and commencement" - The Real Estate (Regulation and Development Act, 2016)

(1) This Act may be called the Real Estate (Regulation and Development) Act, 2016.

(2) It extends to the whole of India except the State of Jammu and Kashmir.

(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint:

Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

 

Section 2 : Definitions

 

CHAPTER - II REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENTS

Section 3 : Prior registration of real estate project with Real Estate Regulatory Authority

Section 4 : Application for registration of real estate projects

Section 5 : Grant of registration

Section 6 : Extension of registration

Section 7 : Revocation of registration

Section 8 : Obligation of Authority consequent upon lapse of or on revocation of registration

Section 9 : Registration of real estate agents

Section 10 : Functions of real estate agents

 

CHAPTER III FUNCTIONS AND DUTIES OF PROMOTER

Section 11 : Functions and duties of promoter

Section 12 : Obligations of promoter regarding veracity of the advertisement or prospectus

Section 13 : No deposit or advance to be taken by promoter without first entering into agreement for sale

Section 14 : Adherence to sanctioned plans and project specifications by the promoter

Section 15 : Obligations of promoter in case of transfer of a real estate project to a third party

Section 16 : Obligations of promoter regarding insurance of real estate project

Section 17 : Transfer of title

Section 18 : Return of amount and compensation

 

CHAPTER IV RIGHTS AND DUTIES OF ALLOTTEES

Section 19 : Rights and duties of allottees

 

CHAPTER V THE REAL ESTATE REGULATORY AUTHORITY

Section 20 : Establishment and incorporation of Real Estate Regulatory Authority

Section 21 : Composition of Authority

Section 22:  Qualifications of Chairperson and Members of Authority

Section 23 : Terms of office of Chairperson and Members

Section 24:  Salary and Allowances payable to Chairperson and Members

Section 25 : Administrative powers of Chairperson

Section 26 : Removal of Chairperson and Members from office in certain circumstances

Section 27 : Restrictions on Chairperson or Members on employment after cessation of office

Section 28 : Officers and other employees of Authority

Section 29 : Meetings of Authority

Section 30 : Vacancies, etc., not to invalidate proceeding of Authority

Section 31 : Filing of complaints with the Authority or the adjudicating officer

Section 32 : Functions of Authority for promotion of real estate sector

Section 33 : Advocacy and awareness measures

Section 34 : Functions of Authority

Section 35 : Powers of Authority to call for information conduct investigations

Section 36 : Power to issue interim orders

Section 37 : Powers of Authority to issue directions

Section 38 : Powers of Authority

Section 39 : Rectification of orders

Section 40 : Recovery of interest or penalty or compensation and enforcement of order, etc

 

CHAPTER VI CENTRAL ADVISORY COUNCIL

Section 41 : Establishment of Central Advisory Council

Section 42 : Functions of Central Advisory Council

 

CHAPTER VII THE REAL ESTATE APPELLATE TRIBUNAL

Section 43 : Establishment of Real Estate Appellate Tribunal

Section 44 : Application for settlement of disputes and appeals to Appellate Tribunal

Section 45 : Composition of Appellate Tribunal

Section 46 : Qualifications for appointment of Chairperson and Members

Section 47 : Term of office of Chairperson and Members

Section 48 : Salary and allowances payable to Chairperson and Members

Section 49 : Removal of Chairperson and Member from office in certain circumstances

Section 50 : Restrictions on Chairperson or Judicial Member or Technical or Administrative Member on employment after cessation of office

Section 51 : Officers and other employees of Appellate Tribunal

Section 52 : Vacancies

Section 53 : Power of Tribunal

Section 54 : Administrative powers of Chairperson of Appellate Tribunal

Section 55 : Vacancies not to invalidate proceeding of Appellate Tribunal

Section 56 : Right to legal representation

Section 57 : Orders passed by Appellate Tribunal to be executable as a decree

Section 58 : Appeal to High Court

 

CHAPTER VIII OFFENCES, PENALTIES AND ADJUDICATION

Section 59 : Punishment for non registration under section 3

Section 60 : Penalty for contravention of section 4

Section 61 : Penalty for contravention of other provisions of this Act

Section 62 : Penalty for non registration and contravention under sections 9 and 10

Section 63 : Penalty for failure to comply with orders of Authority by promoter

Section 64 : Penalty for failure to comply with orders of Appellate Tribunal by promoter

Section 65 : Penalty for failure to comply with orders of Authority by real estate agent

Section 66 : Penalty for failure to comply with orders of Appellate Tribunal by real estate agent

Section 67 : Penalty for failure to comply with orders of Authority by allottee

Section 68 : Penalty for failure to comply with orders of Appellate Tribunal by allottee

Section 69 : Offences by companies

Section 70 : Compounding of offences

Section 71 : Power to adjudicate

Section 72 : Factors to be taken into account by the adjudicating officer

 

CHAPTER IX FINANCE, ACCOUNTS, AUDITS AND REPORTS

Section 73 : Grants and loans by Central Government

Section 74 : Grants and loans by State Government

Section 75 : Constitution of Fund

Section 76 : Crediting sums realised by way of penalties to Consolidated Fund of India or State account

Section 77 : Budget accounts and audit

Section 78 : Annual Report

 

CHAPTER X MISCELLANEOUS

Section 79 : Bar of Jurisdiction

Section 80 : Cognizance of Offences

Section 81 : Delegation

Section 82 : Power of appropriate Government to supersede Authority

Section 83 : Powers of appropriate Government to issue directions to Authority and obtain reports and returns

Section 84 : Power of appropriate Government to make rules

Section 85 : Power to make regulations

Section 86 : Laying of rules

Section 87 : Members etc to be Public Servants

Section 88 : Application of other laws not barred

Section 89 : Act to have overriding effect

Section 90 : Protection of action taken in good faith

Section 91 : Power to remove difficulties

Section 92 : Repeal