Real Estate Regulatory Act (RERA) And Its Benefits For Home Buyers
From May 1, 2017, India Real Estate Market finally embraces the revolutionary declaration by the Government- The Real Estate Regulation and Development Act (RERA). The act is about to bring clarity and fair practices that would protect the home buyers interest and take necessary action by imposing penalties on the developers. Each Union Territory and State is about to have its individual regulatory authority, who are going to implement the rules and regulations abiding the act. Although there had been a stagnancy in real estate investments, there were no leverage on the inventory costs. The low demand and quantity of unsold units has compelled the developers to map all units with an elevated price tag. However, after the declaration of RERA, builders are confident about demand of residential properties and are relived from the loss incurred due to piling of unsold inventories. RERA implementation totally takes care of the worries and concerns of the home buyer...