My name is shivam sinha this is for the testing purpose
11 Feb, 2023
You must be aware of RERA rules and regulations as a builder or a buyer in order to navigate the real estate sector.
RERA stands for Real Estate Regulatory Authority and responsible for transparency in the real estate industry. RERA was introduced to eradicate the disputes and discrepancies in the Real Estate landscape.RERA has been established across the country to ensure the uniformity and regulations in the Real Estate Industry. You can do a little research on RERA Karnataka, RERA Delhi, RERA West Bengal, RERA Goa, RERA Punjab and others.
As RERA has been brought into action, each and every builder is required to let the homebuyers know about the construction progress, hand over the keys of the property by the due date and adhere to every single rule established by RERA in order to ensure accountability.
RERA has channelized positive changes in the whole real estate sector. We will discuss some of them below-
RERA benefits homebuyers in various ways. Let’s take a look at them-
Since RERA has been brought into action, the developers and the builders require being more transparent. Here we will discuss how RERA impacts the Real Estate agents.
A homebuyer can register a Complaint with RERA if he faces any dispute. Based on your complaint and the offence mentioned, the promoter or builder will be penalized. There is a list of penalties to be charged if a builder is found guilty.
Buyers have to abide by RERA as well. If a buyer is found guilty of any non-compliance, he will be penalized with a daily charge of up to 5% of the approximate cost of the property. Not only that, any non-compliance with Appellate Tribunal will make you land into imprisonment for a year or 10% of the project’s probable cost or even both.
If a builder is willing to register a proposed project under RERA, he requires following the below-mentioned steps-
Once you are registered under RERA, it allots a RERA number for you and the project as well to conduct future communication.
We all know how time and money consuming legal proceedings are Government officials take their own sweet time and ask you to pay extra just to get the job done. If you too have fallen into the same malicious loop it would be a smart move to File an Online Complaint against RERA. We here offer you varied legal support services that will help you achieve the justice you want and rightfully deserve without over exhausting your resources.
Already gratified with 1,20,000+ satisfied complainants from every nook and corner of the country, as we work until your contentment. From gathering the necessary pieces of evidence to write up the application letter and filing the complaint in the Consumer Forum.
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