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Dec 31, 2021

Retroactive Operation of RERA Upheld

The SC, in the matter of Newtech Promoters and Developers Private Limited v. State of UP and Others[1] analysed the object and reasons of the Real Estate (Regulation and Development) Act, 2016 (‘RERA’) and held that it will apply to all on-going projects and future registered projects, with retroactive effect (i.e., effective from a prior date). However, projects which have been completed or which have received completion certificates will not be under the fold of the RERA and therefore, any vested or accrued rights in relation to such projects will not be affected.

 

[1] 2021 SCC Online SC 1044.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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