DMPQ: What are the major advantages of the Real estate regulation act 2016? ( ECONOMICS)

Major advantages:

1. It will help to regulate the highly unregulated real estate sector.
2. Will help to deal with the undue delay in project implementation.
3. Will help to streamline the data of the project across the country and hence will bring homogeneity and rule bas e pricing in the sector.
4. It will enhance the transparency and accountability in the real estate sector.
5. It will provide time bound redressal mechanism for the prospective home buyers.
6. It will help to monitor the sector well as here large source of black money is stashed.
7. In the long run it will help to bring down the prices of the real estate so that housing can become affordable.
8. It is in line with the customer satisfaction and consumer safeguard.