Rera does bring hope

It will certainly not be an instant cure, even if retrospective clauses are invoked

The Real Estate Regulation and Development Act (Rera) was passed by Parliament last year, with a leeway of 12 months for states to notify the respective rules and regulations and set up local regulatory agencies. The deadline has been missed by most states, and according to Crisil, many of the Act’s provisions have been diluted.  As of the first week of May, nine states (Andhra Pradesh, Bihar, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, and Uttar Pradesh) and six Union Territories (Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, Lakshadweep, and Delhi) have notified the respective