RERA Registration Online | RERA Registration Process | RERA Registration Certificate

The RERA Act came into force in part, where some provisions were effective from 01 May, 2016 and the remaining on 01 May, 2017. The RERA Act was made compulsory for all States and Union Territories to establish its own regulations and formulate the rules that will control the functioning of the regulator i.e. RERA.

WHAT IS THE PURPOSE OF RERA?

The real estate sector was highly unregulated. The home buyers felt that they were exploited when they went to transact with the developers.  The aim of the Government, by bringing into force the RERA Act, is to create a more just and fair transaction between the seller and the buyer of properties. The sole purpose of RERA is to make real estate purchases uncomplicated along with maintaining accountability and transparency, provided the States does not dilute the essence of the RERA Act.

WHAT ARE THE BENEFITS OF RERA?

The benefits are:

1. Limit in advance amount
2. Standardizing carpet area
3. Reduced risk of insolvency of the builder
4. Interest to be paid in case of default or delay
5. Right to Information
6. Buyer’s rights if case of defect in title and property
7. Buyer’s right in case of false promises by the builder
8. Grievance redressal

If you are looking for the best legal services and need help with any RERA related matters or services, you can reach out to us on bestlegalservices.in