RERA- the change that real estate needed.

RERA- the change that real estate needed.

RM | June 17, 2017 | Saturday

New Delhi: Buying a home is one of the most important aspects of everyone’s life and till now real estate sector was unregulated. But with the coming of RERA things are getting back on track. RERA is important for three aspects:

RERA safeguards buyer’s interest by ordering developers to give every detail about its project and upload it on the website. Before RERA there was no proper authority wherein buyers can go and file their complain, but now they have a structural body where people can file their complaints regarding anu builder. Rectifying this problem and completing it is developer’s duty which he has to complete within 30 days of buyer notifying this to him. According to the real estate act, every state will make its own rules which have to be followed by the developers strictly.

RERA will make realtors accountable for everything. No developer can promote its project before registering under RERA. Those developers who will fail to get registered, strict actions will be taken against them .

Real estate will bring transparency and will bring trust amongst buyers. This will increase their confidence in real estate and will eventually increase the investment in real estate sector.