The Real Estate (Regulation and Development) Act, 2016 (RERA) was enacted to regulate the real estate sector in India, ensuring transparency, accountability, and protection of homebuyers’ interests.
The Real Estate (Regulation and Development) Act, 2016 (RERA) marks a significant milestone in the regulation of the real estate sector in India. Enacted to protect the interests of homebuyers and promote transparency and accountability in real estate transactions, RERA mandates the registration of real estate projects and agents with state-level regulatory authorities across the country.
RERA registration enhances consumer protection by mandating that developers provide accurate project details, adhere to timelines, and maintain transparency in transactions. This prevents fraudulent practices and ensures that homebuyers receive what was promised.
Registered projects under RERA are required to disclose all relevant information such as layout plans, approvals, and financial details on the regulatory authority's website. This transparency helps homebuyers make informed decisions and fosters trust in the real estate market.
RERA holds developers accountable for their commitments to homebuyers. Developers are required to use funds collected for specific projects and cannot divert them elsewhere, ensuring financial discipline and project completion.
Projects registered under RERA gain credibility in the market due to compliance with regulatory norms and consumer-centric practices. This credibility attracts more buyers and enhances the marketability of registered projects.
You are recommended to get the NGO Registration done if you are willing to establish a non-profit organization and work with an objective towards the betterment or advancement of any particular section of the society. Getting NGO Registration provides legal authority to the entity and makes it more credible in the eyes of the law and contributors.
You are recommended to get the NGO Registration done if you are willing to establish a non-profit organization and work with an objective towards the betterment or advancement of any particular section of the society. Getting NGO Registration provides legal authority to the entity and makes it more credible in the eyes of the law and contributors.
