Home Buyers awareness video | know about 'RERA' before you book a flat in an apartment.

Описание: Buying a home is every person’s dream. However, everyone is not able to afford a home as the real estate prices are still very high as compared to the income levels.

To add to the misery, every developer/builder earlier had his own norms and there were no standard norms. Every builder followed different practices and structured the builder-buyer agreement in such a manner which is in favor of the builder.

The common man who invested his lifelong savings in buying real estate had very limited rights. To protect and safeguard the interests of the home buyers and to ensure that they are not exploited by the developers/builders – the govt introduced the RERA Act to protect the interests of the property buyers. This video Explains it in detail.
RERA stands for Real Estate Regulations Act and was introduced in 2016 to protect the interests of the home buyers. The main aim of RERA is to provide relief to the buyers from the malpractices of unfair builders.

RERA specifies certain norms for building and development of real estate which will enhance the transparency in transactions in the real estate sector.

It has provided several rights to the home buyers and has also specified certain rules and regulations to be followed by all builders/ developers.

Moreover, the RERA Act also specifies the creation of a Real Estate Authority and Appellate Tribunal for each state. In case of any wrongdoing by the builder/developer – the home buyer can also file a complaint to this authority.