Why Real Estate Regulation Act (RERA) is Important?
The real-estate (Regulation & Development) Act,2016 intends to set that the real-estate Regulatory Authority which would govern and advertise the real estate industry. The chief goal of this Act is to promote transparency, accountability and efficiency in the real estate sector. So that the customers get timely delivery of Property.
Every developer developing property over 500 sq. mtr or with at least 8 flats, needs to be enrolled. Developers need to place info like layout plan, project plan, Sanction, property name standing, information of promoters, architects, contractors and day of conclusion with their state RERA