An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.
(1) ThefunctionsoftheCentralAdvisoryCouncilshallbetoadviseandrecommend the Central Government:-
(a) On all matters concerning the implementation of this Act
(b) major questions of policy
(c) towards protection of consumer interest
(d) to foster the growth and development of the real estate sector
(e) on any other matter as may be assigned to it by the Central Government
(2) TheCentralGovernmentmayspecifytherulestogiveeffecttotherecommendations of the Central Advisory Council on matters as provided under sub-section( 1).