SC verdict to protect homebuyers, make realtors toe the line

The SC's verdict is now expected to trigger a major change in state-specific rules modelled on this Act

The Supreme Court’s (SC’s) recent verdict upholding the jurisdiction of the Real Estate (Regulation & Development) Act, 2016, or RERA, in two different matters is expected to help homebuyers escape unnecessary harassment and put pressure on unscrupulous developers to toe the line.

Firstly, the SC’s verdict — upholding the jurisdiction of RERA on all realty projects that were ongoing and had not received completion certificate until the law came into effect — is now expected to trigger a major change in state-specific rules modelled on this Act.

The ‘ongoing projects’ included launches which had not obtained ‘completion certificate’