Implementation and Impact of the Real Estate (Regulation and Development) Act, 2016, in Uttarakhand.

Abstract

With the growing population and more people move to cities, the need for both residential and commercial property has also increased drastically. In the sake of development, every part of the Earth has been used up, including farmland, natural lakes and ponds, and even riverbank land. In these circumstances, an independent government agency needs to keep an eye on the real estate market. The Transfer of Property Act, 1882 include the sale of property in a building or land. This is because it is a contractual transaction. However, these jurisdictions were not enough because of technical legal issues. Setting up a new independent authority for this aim is advantageous in many ways. The Real Estate (Regulation and Development) Act, 2016 (RERA), was enacted with the objective of making India's real estate market protected, transparent, and more accountable for home buyers. The Act came into force in Uttarakhand through the Real Estate (Regulation and Development) (General) Rules, 2017. The paper analyzes how the issues are getting improved and resolved in a few ways like, home buyers will be protected by disclosures and faster handling of complaints. But there are still problems, like not having enough staff, not knowing enough in remote highland areas, and having to find a way to balance growth in the real estate market with rules about the environment and planning. The article ends with suggestions for improving rules and encouraging safer, more responsible real estate development in Uttarakhand for the home buyers.