RERA stands for the Real Estate Regulatory Authority, established under the Real Estate (Regulation and Development) Act, 2016. The primary objectives of RERA are:
To regulate the real estate sector and promote its development.
To bring transparency in project marketing and execution.
To protect the interests of consumers in the real estate sector.
To establish a fast-track dispute resolution mechanism between buyers and developers.
If you are a homebuyer facing issues with a registered real estate project, you can file a complaint with RERA:
RERA has revolutionized the real estate sector in India, offering much-needed protection and transparency to homebuyers. By understanding the key aspects of RERA, buyers can make informed decisions and safeguard their investments, while developers are encouraged to adhere to ethical and fair practices. Whether you are buying your first home or investing in real estate, being aware of RERA regulations is essential for a smooth and secure transaction.
For more detailed information, visit your state’s RERA website and stay informed about your rights and responsibilities under this transformative legislation.