{"id":1506,"date":"2021-03-19T08:54:24","date_gmt":"2021-03-19T08:54:24","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=1506"},"modified":"2021-03-20T06:27:23","modified_gmt":"2021-03-20T06:27:23","slug":"all-you-need-to-know-about-the-real-estate-acts","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/all-you-need-to-know-about-the-real-estate-acts\/","title":{"rendered":"All you need to know about the real estate acts"},"content":{"rendered":"\n<p><em>When it comes to purchasing a property, it becomes essential to understand a set of laws. This task might seem a bit difficult for a regular homebuyer. <a href=\"https:\/\/propertypistol.com\/\">Real estate<\/a> has various aspects which include &#8211; sale, lease, license, mortgage etc. It is important to do a title check as well before investing in a property or purchasing one.<\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>RERA (Real Estate Regulatory Authority) Act<\/strong>, 2016, has brought about a revolutionary change in the real estate sector.<\/p>\n\n\n\n<p>Even after a lot of formalities, the terms and conditions of real estate lease and sale-purchase were always in the favour of the builder. Hence, the need for a revised set of rules and regulations was due. That is when <strong><a href=\"https:\/\/www.propertypistol.com\/blog\/some-important-things-you-need-to-know-about-rera-act\/\">RERA<\/a> <\/strong>came into place. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/all-you-need-to-know-about-the-real-estate-acts\/#These_are_the_major_real_estate_acts\" title=\"These are the major real estate acts\">These are the major real estate acts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/all-you-need-to-know-about-the-real-estate-acts\/#Provisions_under_RERA\" title=\"Provisions under RERA\">Provisions under RERA<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"These_are_the_major_real_estate_acts\"><\/span><strong>These are the major real estate acts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>RERA (Real Estate Regulatory Authority) Act, 2016<\/strong><\/li><li>Stamp duty has to be paid as per state requirements<\/li><li>The Transfer of Property Act, 1882<\/li><li>For Non-Resident Indians (NRIs) FEMA( Foreign Exchange Management Act, 1999) also apply.<\/li><li>The Registration Act, 1908.<\/li><li>Investors have to abide by local laws and bylaws.<\/li><li>The specific relief Act, 1963<\/li><li>Land Acquisition Act, 2013<\/li><li>Clearance as per environmental laws have to be taken before starting with any project for the construction of an immovable property.<\/li><li>Other labor laws including regulating minimum wages and safety insurance provisions.<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provisions_under_RERA\"><\/span><strong>Provisions under RERA<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Under RERA, it is compulsory for the builders to register the land. The registration of land can be exempted only when the area of the land is too small.<\/li><li>Due to this act, the possession of the property is given on time to the purchaser. If the builder delays the possession, he has to provide a penalty to the customer.<\/li><li>There are separate real estate courts for property disputes. The district courts do not have any jurisdiction for such disputes.<\/li><\/ul>\n\n\n\n<p>The laws that govern real estate have a wide scope and it is essential to focus on legal compliance if a person is in the real estate industry. Due to the enactment of RERA, the real estate industry has been regularised which has proven to be helpful for <strong>homebuyers<\/strong> and builders as well. The risk for investors is reduced because of better regulation. They can freely invest in real estate which makes it a win-win situation for investors, customers, and builders.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to purchasing a property, it becomes essential to understand a set of laws. This task might seem a bit difficult for a regular homebuyer. Real estate has various aspects which include &#8211; sale, lease, license, mortgage etc. It is important to do a title check as well before investing in a property [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[69],"tags":[],"class_list":["post-1506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-realty-guide-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>All you need to Know about Real Estate Law&#039;s and Act&#039;s in India - PropertyPistol Blog<\/title>\n<meta name=\"description\" content=\"Read article on, Real Estate Acts, laws and regulations at PropertyPistol Blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertypistol.com\/blog\/all-you-need-to-know-about-the-real-estate-acts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All you need to Know about Real Estate Law&#039;s and Act&#039;s in India - 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