Chief Minister Pinarayi Vijayan launched the Kerala Real Estate Regulatory Authority (K-RERA) with an aim to boost the confidence of customers and bring in more transparency in the real estate sector,
Passed by the Parliament, the Real Estate (Regulation and Development) Act, 2016, had directed the state governments to establish RERA for effective regulation of the real estate sector and also for speedy dispute redressal.
As per the Act, buildings with more than eight apartments and real estates projects with 500 square metres of land or more will have to be registered with RERA.