Explain Regulatory and Appellate Authority under Real Estate (Regulation and Development) Act, 2016.

Real Estate Regulatory Authority (Regulatory Authority) According to section 20 of Real Estate (Regulation and Development) Act, 2016 (the Act), the appropriate Government shall 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 the Act. The Authority is a body corporate 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. Apart from the day to day implementation of the Act and the Rules and Regulations made thereunder the immediate responsibility of Regulatory Authority are: Registration and regulation of the real estate project and real estate agent; Extension of registration of the real estate project and its revocation; Renewal of registration of the real estate agent and its revocation; Fix through regulations for each areas under its jurisdiction the standard fees to be levied on the allottees or the promoter or the real estate agent. As per section 34, the Regulatory Authority is responsible to maintain a website of records for public viewing of - All project registered with the Authority including details of projects as specified in the Act and the rules and regulations; details of promoters who are defaulters with photographs of promoters; details of projects in case of revocation of registration or where any project penalized under the Act; details of agents registered under the Act including his photograph and also of those agents whose registration has been rejected or revoked. As per section 71 of the Act, Regulatory Authority is required to appoint one or more 'adjudicating officer' in consultation with appropriate Government. As per section 32 of the Act, the Regulatory Authority is also required to make recommendations on various matters for the growth and promotion of a healthy, transparent, efficient and competitive real estate sector. Real Estate Appellate Tribunal (Appellate Authority) According to section 43 of the Act, the appropriate Government shall establish an Appellate Tribunal to be known as the Real Estate Appellate Tribunal. The appellate authority is a quasi-judicial body, which is empowered to hear appeals from the orders/decisions/ directions of the Regulatory Authority or the Adjudicating Officer, as the case may be. The form and manner and the fees payable towards filing the appeal and the manner for hearing and disposing the appeal are to be provided by Rules to be made by the appropriate Government.