RERA assures transparency and fast disposal of projects in real estate sector. Read on to understand the rights of a homebuyer under RERA Act.
When the Real Estate Regulatory Authority (RERA) Act was introduced in the year 2016, many home buyers who were speculative of investing in Real estate, heaved a sigh of relief. The main objective of the RERA act is to protect the interest of home buyers. It also aims at bringing standardisation in the real estate sector. RERA act has led to the creation of a legit system wherein issues such as quality of the projects, delays in projects, pricing of the property, etc. can be dealt with transparency. The RERA act promotes accountability, transparency, and efficiency in the real estate sector.
When a person books a flat with a real estate developer in an under-construction project, he usually passes through the following critical phases:
Viewing the project advertisement, visiting t...