October 18, 2017: The State Cabinet today gives nod to Real Estate (Regulation & Development) Act,2016 which came into effect from May 1, 2017 after it was approved by the Central Government Cabinet.
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Under the Act, developers shall get all the ongoing projects that have not received Completion Certificate and the new projects registered with Regulatory Authorities within three months i.e by July end. This enables the buyers to enforce their rights and seek redress of grievances after such registration.
Speaking to media in Agartala, State Finance Minister Bhanu Lal Saha stated, the State Government has approved the Act as Centre asked every State to pass the Act.
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