Real Estate Act, 2016- Protecting the Interests of Home Buyers?

Shelter along with food and clothing is one of the basic needs of human beings. For some, owning a house is considered a basic necessity; for others, owning a dream house is a desire. With the changing times and economic conditions, the need for affordable and decent housing has been increasing consistently, especially urban housing.

As per the 2001 census, an estimated 72% of the population was residing in rural areas, and 28% was living in urban areas. But the 2011 census put these figures at 69% and 31% respectively . According to a report released by global real estate consultants, Cushman & Walkfield, the demand for urban housing in India would increase by 15 million units by the end of the year 2019. The report mentioned there was a huge gap in the demand and supply patterns, both in terms of quality and quantity . .