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Some Benefits Of RERA Act For Home Buyers

One good thing about RERA act is that it ensures the investment made by buyers would be in safe hands. You must be curious to know how? Well, developers have to keep 70% of the amount that they get from the buyer in escrow with Scheduled Bank.

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Some Benefits Of RERA Act For Home Buyers

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  1. Some Benefits Of RERA Act For Home Buyers

  2. what is rera • the Government of India introduced RERA (Real Estate Regulation and Development) Act in 2016 to bring more transparency and accountability to the developer you choose to buy your dream home from. • Under this Act, central and state governments are required to notify their rules on the basis of the model rules framed by the central Act.

  3. So here are some insights that you need to know about RERA Act: • RERA Act required Developers to submit their documents related to their ongoing and developed projects to the authorities that have to be published on their website. • The developer needs to update construction timeline, completion, delivery and being certified by a reputed engineer, architect as well as Chartered Accountant.

  4. Benefits Of RERA Act For Home Buyers • One good thing about RERA actis that it ensures the investment made by buyers would be in safe hands. • You must be curious to know how? Well, developers have to keep 70% of the amount that they get from the buyer in escrow with Scheduled Bank. • with RERA act if the buyer of the property faces any such issues in the first 5 years, then the developer will have to rectify such defects within a month's time.

  5. These are few key points about RERA actthat will help to save the rights of home buyers and streamline the developer process.

  6. To Read More on about RERA Act To Buy Home loan Click Here • Visit us • https://www.hdfc.com/blog/all-about-rera

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