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Despite implementation woes, Rera has set the tone

The Real Estate (Regulation and Development) Act, 2016, or Rera was hailed as the panacea for the various ills plaguing the Indian real estate sector. The idea behind Rera was to create a legal framework for the fair and transparent functioning of the industry. For far too long, the realty sector functioned in almost a legal vacuum which allowed a large section of developers and property brokers to give consumers the short shrift. Before Rera, most builders took buyers for granted, swindled funds in different projects thus leading to delayed delivery across several cities. There was also little transparency in