Experts and Homebuyers Embrace RERA Act Jail Term Change
BHUBANESWAR: Real estate professionals and homebuyers in Odisha have expressed approval of the Central government’s decision to replace imprisonment for non-compliance with tribunal orders under the Real Estate (Regulation and Development) Act, 2016 (RERA) with monetary fines. Legal and real estate specialists have described this change as part of a larger initiative to decriminalize business regulations and alleviate the pressures on courts. “This amendment aligns RERA with the government’s broader goal of easing the legal landscape for minor offenses, facilitating a better living and business environment,” stated real estate expert Bimalendu Pradhan. On May 7, the Ministry of Housing and…