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mplemented across the nation on 1 May 2017 RERA (Real Estate Regulation and Development) Act, 2016 aims to inculcate transparency in the domain of real estate to enhance its credibility that was otherwise an unregulated sector. RERA aims to reduce fraudulent practices by establishing greater accountability while emphasizing on keeping the inflated transaction costs under control.The central government has formulated the norms under RERA for the six Union Territories (UTs) and States have implemented it with few modifications.

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