SAFEGUARD TO A BUYER IF YOU ARE A BUILDER OR A BUYER. YOU SHOULD TO KNOW ABOUT RERA. ITS FOR YOU!!! " The Act stipulates that the appropriate government should establish the Real Estate Appellate Tribunal by May 01, 2018. Adjudicating officers, Real Estate Authorities and Appellate Tribunals shall dispose off complaints within 60 days. In case, the promoter approaches the Tribunal, then the appeal will be heard only after he deposits 30 percent of the penalty amount or such higher percentage as may be determined. " The Real Estate (Regulation and Development) Act, that seeks to safeguard home buyers, was passed by Rajya Sabha on March 10, 2016 and by Lok Sabha on March 15, 2016. On May 01, 2017, the Union Ministry of Housing and Urban Poverty Alleviation notified all the 92 sections and the Real Estate Act came into force after almost a 9-year wait marking the beginning of a new era in the Indian real estate sector. Under the rule, it was mandato...