Question : From May 2017, the Real Estate Act has come into effect. Under the Act, the Regulatory Authorities are required to dispose of complaints in how many days?
Option 1: 60
Option 2: 30
Option 3: 45
Option 4: 90
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Correct Answer: 60
Solution : The correct answer is 60.
The Real Estate Regulatory Authority (RERA) is a governing organization that serves as a quick dispute resolution mechanism and is established by the Real Estate Act of 2017 in each state to regulate the real estate industry. Under this Act regulatory authorities are required to dispose off the disputes within 60 days.
This Act has been enacted under the Concurrent list.
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