Before we break down the step-by-step process of filing a complaint in RERA, it is essential to understand the Act in detail, from the reason for its existence to the benefits it provides to the customers.
The above abbreviation stands for the Real Estate Regulation Act, introduced by the government of India in 2016 to standardise specific regulations in the industry. An Act for the consumer and by the consumer, serving its purpose of protection from unfair and illegal practices adopted by developers and builders. To be followed in every state, the rules and regulations extend to residential and commercial property types.
Aiming to protect the interests of real estate buyers, here are some reasons for introducing the Act.
The official RERA website has made filing a complaint stress-free and smooth. A buyer now may only fill out a form and pay the registration fee.
The RERA Act serves as a much-needed lifer for real estate buyers, who for decades have dealt with various stresses when parking their money in real estate.
The key features of the RERA Act include mandatory registration of real estate projects, disclosure of all project-related information, including project status, layout plans, and completion timelines, and the establishment of a regulatory authority to oversee the act's implementation.
Overall, the RERA Act has been instrumental in promoting transparency and accountability in the real estate sector. It has given homebuyers greater confidence in investing in real estate projects and has helped reduce fraudulent practices in the sector. However, there is still a long way to go in fully implementing the act's provisions, and more needs to be done to address the challenges faced by the real estate sector in India.
The pursuit of the ideal apartment in Thane often leads prospective buyers on a quest that transcends the traditional realm of real estate brokers. In today's digital age, where information flows seamlessly, homebuyers are venturing into uncharted territory to unearth hidden gems in the Thane real estate market.
In the latest episode of the spate of celebrity weddings, Rajya Sabha Member of Parliament (MP) Raghav Chadha tied the knot with popular Bollywood beauty Parineeti Chopra. The wedding was a royal and rich affair, and the ceremony held in Taj Lake Palace, Udaipur, was closely followed by fans across the country. Raghav and Parineeti are the latest power couple in town, and the news is full of stories about their lives and lifestyles. Both Raghav and Parineeti own large and luxurious homes.
The main entranceway to your new home is the first impression of the ambience and warmth of your household. A solid wooden door exudes elegance and sophistication and makes a favourable impression. A well-designed door enhances the interiors of the home and adds to the value of your property as well.