RERA: Real Estate Regulatory Authority Blogs

Get a Brief Understanding of RERA

RERA full form is Real Estate (Regulation and Development) Act, 2016. RERA was formulated to regulate the hitherto unorganised and unregulated real estate sector of India. In the absence of an efficient regulator, the incidents of tussle and disputes between homebuyers and developers were on the rise. The RERA Act of 2016 was implemented to address the concerns and grievances of real estate developers, homebuyers, realty agents, and other stakeholders of the real estate sector. After the implementation of the RERA Act, Rera approved projects are preferred by the homebuyers. All real estate projects of more than 500 sq m must be registered with respective RERA authorities. In addition to this, every such builder has to inform the homebuyer of the progress of construction, abide by the timelines and follow the rules as stated in the RERA Act.
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