The Government of India enacted the Real Estate (Regulation and Development) Act 2016 and all the sections of the Act came into force with effect from 1st May, 2017. The key objective of the Act was to bring greater transparency, accountability, financial discipline, speedy dispute redressal and homebuyer/ allotees centricity.
The Government of Maharashtra has established the Maharashtra Real Estate Regulatory Authority (MahaRERA), vide Notification No. 23 dated 8th March 2017, for regulation and promotion of real estate sector in the State.
