Tag Archives: real estate property

How will home buyers benefit from RERA?

  • Home buyers who use the services of realty agents and agencies will now be protected as the Act renders brokers and agents punishable if they do not abide with the regulator’s strictures ruling.
  • It will bring transparency, better governance and accountability to the real estate transactions and processes.
  • False promises and wrong delivery of real estate property will end.
  • Home buyers can approach the authority to settle disputes with errant builders.
  • Developers will have to sell flats based on carpet area and not super built-up area.
  • 70% of the money received from buyers be deposited in an escrow account and used only for the purpose of the development of a project.
  • The unfairly falsely allotted property buyers is entitled to receive compensation under RERA.
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