How would you interpret the provisions of the Real Estate (Regulation and Development) Act, 2016?
The Real Estate Act, 2016 provides for the regulation and promotion of the real estate sector. It establishes the Real Estate Regulatory Authority (RERA) to resolve disputes and protect consumers. The Act mandates the registration of real estate projects and agents, imposes obligations on promoters and allottees, and prescribes penalties for non-compliance.