RERA Act
About the RERA Act
The Real Estate (Regulation and Development) Act, 2016 (RERA) is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry.
It aims to bring transparency and accountability in the real estate sector, reduce fraud and delays, and establish a mechanism for speedy dispute redressal.
Key provisions include mandatory project registration, depositing 70% of funds in an escrow account, timely project completion, and clear definition of carpet area.
Key Benefits of RERA
Enhanced protection for homebuyers.
Increased transparency in project details and timelines.
Accountability on builders for delays and quality.
Standardized practices across the real estate sector.
Empower yourself with knowledge. Know About RERA Act, 2016 document to understand your rights and the responsibilities of real estate developers.