A Comprehensive View Of The Consumer Rights In The Field Of Real Estate

Dipto Dasgupta, BBA LLB., Alliance School of Law

ABSTRACT

The Consumer Protection Act was introduced in 1986 (recently amended in 2019) to protect the interests of consumers better and give them justice in India. The law provides for the protection of consumer rights in India, including rights related to real estate. The Real Estate (Regulation and Development) Act, 2016 provides for the establishment of a regulatory body known as the Real Estate Regulatory Authority (RERA), which is responsible for regulating the real estate sector and protecting consumer interests. RERA's goal is to increase accountability towards consumers and reduce fraud and delays and it includes provisions requiring developers to register their projects with RERA and disclose their details to consumers. The law also leads to the creation of arbitration courts to hear consumer complaints in the real estate sector in the event of disputes with developers. SEBI introduced REIT (Real Estate Investment Trust) in 2007 to allow investors to invest in real estate without purchasing and managing the property. These laws work together to protect consumer rights, provide access to information, and ensure complaints are resolved. This paper focuses on the Consumer Protection Act and its implications in the field of real estate, The Real Estate Regulatory Authority and how it protects the rights of the consumers and deals with their grievances in the field of real estate and whether the current provisions in the RERA act are enough for protecting the consumer interests in the real estate sector.