When was the Real Estate (Regulation and Development) Act (RERA) enacted to regulate and promote the real estate sector, ensuring transparency and accountability in transactions and protecting the interests of homebuyers?

Correct option is D

The correct answer is (d) 2016
Explanation:
• RERA Act was enacted in 2016 by the Indian Parliament.
• Ensures transparency and accountability in the real estate sector.
• Protects homebuyers from project delays and fraudulent practices.
• Establishes Real Estate Regulatory Authorities (RERAs) in each state.
• Standardises norms for real estate contracts and project disclosures.
Information Booster:
• Developers must deposit 70% of project funds in an escrow account.
• All projects above a specific size must be mandatorily registered.