By now you might be quite acquainted with the term RERA and are prepared to know more about the same. After knowing enough about RERA, you will be convinced that it is for the greater good that the government has brought this law into implementation. RERA will rightly serve the fraudulent land dealers and will be fair enough for the ones who are proceeding legally.
This article will give you a clear idea of how RERA is beneficial to both, Builders and Buyers. Below are the major points that depict the advantages of RERA:
• If you are a buyer, you have a full right to know the ins and outs of the property that you are investing in. This can be done by checking up the project on the respective state’s RERA portal.
• Your money is in a safe-house and will be given to the Builder only when you get the possession of your property.
• You are paying only for the area which you are using inside the walls of your property without the overhead of extra charges.
• Any defects in your property will be looked after by the builder of your project.
• You will not be kept away from your own property after paying for it because if there is any delay in the handover of the property that you have purchased, the Builder is liable for that.
• The prime benefit of RERA to the Builder community is that the Real Estate sector will be clear of any bogus developers who are flooding this sector through illegal projects.
• This will ensure that a healthy competition is established which, in turn, results in the development of quality real estate projects as the illegal landholders will find it difficult to register for RERA.
• A well-maintained system will prevail which will keep track of investments, land, properties and possessions.
• All the disputes related to financial matters will be cleared quickly to ensure a smooth system in the sector.
• RERA opens up wide vistas for more and more positive investments in Real Estate giving a boost to this sector.
We hope that you might be elated after reading this due to the assurance of your money in safe hands. All the ongoing projects of Noble Group are RERA approved and you can check this on the portal of RERA Gujarat by visiting https://gujrera.gujarat.gov.in/home, all you have to do is to check the unique RERA number of the projects by Noble Group (available on the website itself) on this portal.
These are the basic details for knowing what RERA and all the incessant talk is about. We will be back with more information on the RERA act which is a savior in disguise!
Let us know your queries in the comment section and we would answer your doubts in the blink of an eye!