The Many Advantages Of RERA In Home buying
Real Estate Regulation and Development Act (RERA) is being recognized for the tremendous trans
formative potential it holds for the real estate sector in India. With several
real estate reforms in place already, this is a great time for those
looking to buy a home.
are some of the many benefits that home
buyers are assured of under RERA:
completion of real estate projects: Until now, a delay in the completion of real estate projects was
almost the norm. However, with RERA in place, builders will be held
more responsible for the timely completion of projects.
compensation against delays: RERA ensures that the home
buyer receives a refund on the deposits made and ample compensation in the
case of an unavoidable delay in the completion of the project.
to be more answerable: As per RERA, builders are not permitted to use your money for the
construction of any other property except that which is in your
name. Additionally, builders will be held accountable for structural
defects and other issues related to workmanship with regard to the
property in question.
concerns to be efficiently redressed: As a home
your concerns and grievances will be given priority and will be
redressed in a quick and efficient manner.
of quality construction: Under RERA, it is incumbent upon builders to follow a certain
prescribed standard for construction. Whether it is the materials
used in construction or the overarching construction guidelines to
be followed, builders will be required to produce quality
construction at all costs.
With RERA in place, real estate purchases will be more transparent and reliable than ever before. If you have been looking to buy a home, this is the best time to make a purchase. Explore the premium offerings at Runwal Bliss, a new construction in Kanjurmarg, Mumbai.