Are you aware of RERA? What is it?

Question

Accepted Answer

Yes, RERA stands for Real Estate Regulatory Authority. It is a regulatory body in India that aims to protect the interests of homebuyers and promote transparency in the real estate sector.

RERA was established in 2016 under the Real Estate (Regulation and Development) Act.
Its main objective is to regulate and promote the real estate sector by ensuring transparency, accountability, and efficiency.
RERA mandates that all real estate projects must be registered with the authority before advertising, selling, or booking.
It requires developers to provide accurate project details, including timelines, plans, and pricing, to buyers.
RERA also establishes a mechanism for addressing grievances and disputes between buyers and developers.
The authority has the power to impose penalties and even revoke project registrations in case of non-compliance.
RERA has been instrumental in protecting the rights of homebuyers and bringing more transparency to the real estate market in India.

Are you aware of RERA? What is it?

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