Rera makes the past tense for realtors

More than the future, real estate developers are worried about their past as they wait anxiously for implementation of the Estate (Regulation and Development) Act, 2016, or Rera, from May 1. According to experts, if enforced retrospectively, a possibility as it is part of the clauses, developers which have not given possession of houses to customers could be penalised, including mandatory jail time.

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