We frequently hear about RERA (Real Estate Regulatory Authority) these days, during discussions about properties and real estate. In some of our previous blog posts, we have covered different parts of the topic in different blogs. So, in this blog, we thought we’d put all those topics together in one place, for the sake of convenience.
The Government introduced a separate body of Housing Regulatory Authority that came into force from May 2017. Read about why it was formed at the link below.
RERA is a powerful Government body, with the power to protect the rights of the home buyers. As a result, its impact on the real estate business is unprecedented. Read more about its impact in the blog linked below.
It is imperative for buyers to understand which RERA law is being breached by the society, before they file a complaint. Until and unless a project comes under the purview of RERA, the body cannot get involved in the dispute between the buyer and society. We’ve covered this in detail in the post below.
RERA has vested certain rights and duties to the buyers and understanding the same is important as it will give clarity to the buyers about their own responsibility and clear grounds in case they want to raise a complaint with RERA. Learn more about this in the link below.
RERA has also clarified, for the good of both parties – buyers and developers, the time frame of the payment and how the amount paid by the buyer needs to be utilized by the developer. Find more about this in the link below.
We hope this compilation helps you. We will keep posting about RERA and the latest updates. Stay tuned to this space and have a good day!