Establishment of Real Estate Regulatory Authority

Establishment of Real Estate Regulatory Authority.—

1. (1) The Government shall, within a period of six months from the date of coming into force of this Act, by notification, establish an Authority to be known as the Real Estate Regulatory Authority to exercise the powers conferred on it and to perform the functions assigned to it under this Act.
2. (2) The Authority shall be a body corporate by the name aforesaid having perpetual succession and a common seal, with the power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued.
3. (3) The Headquarters of the Regulatory Authority shall be at Thiruvananthapuram.