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Case Code: LAW009
Case Length: 12 Pages 
Period: 2006-2016    
Pub Date: 2017
Teaching Note: Not Available
Price: Rs.400
Organization :Real Estate (Regulation & Development) Act, 2016
Industry : Real Estate.
Countries : India
Themes:  Regulation of Real Estate Sector
Case Studies  
Business Strategy
Human Resource Management
IT and Systems
Leadership & Entrepreneurship

Real Estate Act, 2016- Protecting the Interests of Home Buyers?

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In response to the growing demand, a number of real estate projects and ventures were promoted by the real estate developers. Most of the real estate sector businesses were local businesses; many people approached a local builder (or) traditional builder for the construction of a house (or) for any other construction work. With an increase in the demand and scope for business opportunities in the real estate sector, corporate real estate developers too entered the real estate segment (Refer to Exhibit-III for the Structure of Indian Real Estate Sector).

Their projects were marketed in a highly attractive and colorful way, convincing a large number of people to invest in them across different regions in the country. However, the desire of the buyer to own a dream home was not really fulfilled. In a majority of the cases, the developers failed to deliver the homes on time. As a result, the buyers not only failed to fulfill their desires, but they also faced a financial burden..

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As a result of the complex nature of the transactions, the home buyers were not known under which law they could get redressal. In most cases, when the buyers sought legal respite, the courts considered the agreement between the buyer and the developer, in which the clauses were largely in favor of the developers...


The newly passed Real Estate Act, 2016, provided a comprehensive mechanism for protecting the interests of both the buyers and the developers...


Exhibit-I: Key Provisions of Real Estate (Regulation and Development) Act, 2016
Exhibit-II: List of Approvals and Approximate Time Required
Exhibit-III: Structure of Indian Real Estate Sector
Exhibit-IV: Trends in No. of Cases filed at National Consumer Disputes Redressal Commission (2012-2016)
Exhibit-V: Details of Construction Delays in Major Cities between 2013 and 2015