PPSD 1693837801

PLAGIARISM SCAN REPORT
Date September 04, 2023
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Unique Content 94 Word Count 977
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Introduction
The real estate industry is a significant part of the economy and helps the nation meet its demands for housing
and infrastructure. Despite the fact that this industry has seen significant recent growth, it has been mainly
underregulated due to a lack of standardization and proper buyer protection. Although the Consumer Protection
Act of 2019 gives real estate buyers a place to voice their grievances, the solution is only curative and does not
fully solve all of the issues that buyers and promoters in that industry face. The industry's ability to grow healthily
and in an organized manner has been hampered by the lack of standardization. Therefore, the need for sector
regulation has been highlighted in a number of forums.
Historical Background
The Real Estate Regulatory Authority Bill was introduced by the UPA administration in 2013 by the Minister of
Housing and Urban Poverty Alleviation, Girija Vyas. After considering recommendations from the Rajya Sabha
Committee that studied the bill, the Union Cabinet approved 20 important modifications to the Act in 2015. After
receiving the bill, the selection committee wrote a report in July 2015. On March 10 and 15, 2016, the Rajya
Sabha and Lok Sabha, respectively, approved the bill. On March 25, 2016, the Indian President signed the bill
into law. The 10 chapters and 92 parts of the Real Estate (Regulation and Development) Act of 2016 establish
the Real Estate Regulatory Authority (RERA) and Real Estate Appellate Tribunal (REAT).
Real Estate (Regulation and Development) Act of 2016's reach and applicability
The Real Estate (Regulation and Development) Act of 2016, often known as the "Act," is applicable to all of
India. Residential flats, structures, and plots—whether residential or commercial—are subject to the RERA Act's
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provisions. The definition of "Real Estate Project" under the Act covers the construction of apartment buildings,
the conversion of existing structures into flats, and the development of land into plots for the sale of all or a
portion of the aforementioned apartments in order to fulfill the Act's objectives. All developments of greater than
500 square meters must be registered under the RERA Act. The RERA Act's primary coverage areas include all
project-related information, real estate purchase and sale contract paperwork, a clause regarding carpeting, a
cap on advance payments at 10% of the apartment's value, a 70�posit of the money received from buyers in an
escrow account, timely project completion, and penal clauses are all The RERA Act is one such comprehensive
Act that covers all the projects stated above, regardless of whether they are commercial or residential. It is
crucial to remember this.
Need for the Real Estate (Regulation and Development) Act, 2016
The Real Estate (Regulation and Development) Act of 2016 is necessary.
1. To prevent fraud and other wrongdoing in the real estate sectors;
2. To protect customers against risks like delayed delivery, property transfer, the standard of amenities offered,
and required improvements to be made, etc., before purchase;
3. To designate officials to oversee the real estate industry and set up an appeals tribunal in each State. allowing
homebuyers to lodge complaints in the event that developers or builders commit any violation;
4. To make a significant contribution to India's GDP;
5. to establish accountability and responsibility for the authorities so chosen;
6. To increase the security surrounding on the home's utilization of its investments.
Importance of the Real Estate (Regulation and Development) Act, 2016
The operation of real estate was previously unregulated. RERA's implementation aims to safeguard buyers or
investors, which will increase their confidence. To monitor how it functions, it needs authority and transparency.
Actually, it now provides buyers with a clean slate and lowers the risk for those who purchased or invested in real
estate before to the Act's enactment. The Act makes clear the contractual arrangement between homebuyers
and builders. It outlines the procedure for creating trust between suppliers and buyers. Even a state organization
to supervise commercial and residential real estate deals has been established. Home owners are now receiving
their real estate projects on schedule thanks to the RERA Act, which includes huge comfort for Indian buyers.
Salient features of the Real Estate (Regulation and Development) Act, 2016
1. To establish the Real Estate Regulatory Authority in order to govern and advance the real estate industry.
2. To conduct the sale of all real estate projects, including plots, buildings, and flats, clearly and effectively.
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3. To safeguard the interests of purchasers and consumers and ensure that fraud against them is avoided.
4. To set up effective and quick dispute resolution processes, as well as Appellate Tribunals to hear and decide
appeals from the Real Estate Regulatory Authority's orders, directives, or conclusions.
5. Creates RERA, or regulatory authorities at the state level.
Important Provisions of the Real Estate Regulation Act
1. Establishment of Real Estate Regulatory Authorities at the State Level (RERA): The Act allows State
governments to set up multiple regulatory agencies with the following functions:
Real estate project registration and upkeep, publication on its website for public viewing,
Protection of promoters', buyers', and real estate agents' interests
Affordable and sustainable housing development, recommendations to the government, and assurance that the
Act and its regulations are being followed.
2. Establishment of Real Estate Appellate Tribunals: These tribunals allow appeals of RERA decisions.
3. Mandatory Registration: All developments with at least eight flats or a land size of 500 square meters must
register with the regulatory authorities.
4. Deposits: Placing 70% of the money received from buyers in an exclusive escrow bank account for that
project's construction.
5. Liability: For a period of five years, the developer is responsible for fixing structural flaws.
6. Penal interest in the event of default: In the event of any default from either party, both the promoter and the
buyer are obligated to pay an equal rate of interest.
7. Limit on Upfront Payments: Without initially entering into an agreement for sale, a promoter is not permitted to
take from a person an advance payment or application fee equal to more than 10% of the price of the land,
apartment, or building.
MATCHED SOURCES:
Real Estate (Regulation and Development) Act: An Overview
https://www.lexology.com/library/detail.aspx?g=f56bf142-4483.... (https://www.lexology.com/library/detail.aspx?g=f56bf142-4483-
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Real Estate (Regulation and Development) Act, 2016 - iPleaders
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https://blog.ipleaders.in/real-estate-regulation-and-develop.... (https://blog.ipleaders.in/real-estate-regulation-and-development-act-
2016-2/)
Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org
https://bible.org/seriespage/lesson-4-spiritual-setbacks-ezr.... (https://bible.org/seriespage/lesson-4-spiritual-setbacks-ezra-41-24)
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PLAGIARISM SCAN REPORT

Date September 04, 2023

Unique Content 94 Word Count 977

Plagiarized Content 6 Records Found 0

CONTENT CHECKED FOR PLAGIARISM:

regulation has been highlighted in a number of forums.

crucial to remember this.

The Real Estate (Regulation and Development) Act of 2016 is necessary.

1. To prevent fraud and other wrongdoing in the real estate sectors;

and required improvements to be made, etc., before purchase;

4. To make a significant contribution to India's GDP;

5. to establish accountability and responsibility for the authorities so chosen;

6. To increase the security surrounding on the home's utilization of its investments.

Importance of the Real Estate (Regulation and Development) Act, 2016

5. Creates RERA, or regulatory authorities at the state level.

Important Provisions of the Real Estate Regulation Act

governments to set up multiple regulatory agencies with the following functions:

Protection of promoters', buyers', and real estate agents' interests

Act and its regulations are being followed.

register with the regulatory authorities.

buyer are obligated to pay an equal rate of interest.

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Lesson 4: Spiritual Setbacks (Ezra 4:1-24) | Bible.org

Real Estate (Regulation and Development) Act: An Overview

Real Estate (Regulation and Development) Act, 2016 - iPleaders

Report Generated on September 04, 2023 by https://www.check-plagiarism.com/

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