India has a very huge population with demands
regarding house, jobs and food. These demands never seem to decrease. Housing
is one of the greatest demands of the people in India. This is the main reason
why people especially the ones coming from the middle class get attracted to
almost any real estate project. Most of the times people fall prey to scheming
real estate agents who use unethical manner for selling their units. Therefore,
the Government of India came up with a transparent authority for checking the
developers and this was called RERA
India.
What is RERA?
RERA India stands for Real Estate Regulatory
Authority passed in the month of March 2016 by the Indian parliament. The
authority takes care of the Real Estate
Regulatory Act dealing with all the provisions, problems and issues in the
real estate market of India. There is also a Real Estate Regulatory Act India Discussion Board that works out
matters or problems pertaining to the act.
The Work Procedure of
RERA.
RERA For Buyers works towards bringing justice for the buyers
by framing some strict policies that need to be fulfilled by the builders or
the developers before they sell of their properties. Delayed possession of
properties is one major problem faced by people in India. Therefore, RERA works
towards helping people by chucking out the discipline and the transparency that
the builders need to follow. The Real
Estate Regulatory Act India Discussion Board that works on the Real Estate Regulatory Act will check
the under-construction property assignments thoroughly. It will do this because
maximum swindling is carried out in this stage of property development. RERA is
the first of its kind real estate authority with the sole purpose of
channelizing the people who are into the real estate market.
