CURRENT AFFAIRS

Detailed explanation-1: -To facilitate transparency in the home buying process, the Indian Government passed the RERA Act in May 2016. Soon after, RERA was brought into action to address the concerns of homebuyers, builders, brokers, and other stakeholders of the real estate industry.

Detailed explanation-2: -The RERA Authority’s primary function is to offer buyers relief by quickly resolving disputes. The Authority is also in charge of enforcing industry accountability and transparency. The government of every state were required to create a RERA Authority within one year of the RERA Act’s implementation in 2016.