RERA is Real Estate Regulation and Development Act. The act was introduced on 1st May 2016, and came into force from 1st May 2017. The Act has made the registration of Under Construction Projects mandatory in RERA and only after registration they can start selling. RERA is an act to establish the Real Estate regulatory authority for regulation and promotion of the real estate sector to ensure the efficient real estate sales in a transparent manner and to protect the customer investments. RERA is also focussed on establishing adjudicating mechanism for speedy dispute redressal.