{"id":241,"date":"2017-05-01T18:20:51","date_gmt":"2017-05-01T18:20:51","guid":{"rendered":"http:\/\/www.yeshdevelopers.com\/blog\/?p=241"},"modified":"2025-10-31T01:47:07","modified_gmt":"2025-10-31T01:47:07","slug":"will-rera-change-the-way-real-estate-functions","status":"publish","type":"post","link":"https:\/\/www.yeshdevelopers.com\/blog\/will-rera-change-the-way-real-estate-functions\/","title":{"rendered":"Will RERA change the way real estate functions?"},"content":{"rendered":"

Definitely. With a promise of protecting the right of consumers and ushering the\u00a0transparency The Real Estate (Regulation and Development) Bill, provides\u00a0a\u00a0legislation to protect home buyers<\/a> and encourage genuine private players.\u00a0Passed in March last year the long awaited RERA Act<\/a> has finally coming into effect from May 1\u00a0where\u00a0consumer is the king.<\/p>\n

It will change one\u2019s home-buying experience<\/a> as the primary aim of the Act is to bring transparency and accountability from all stakeholders. Violation of orders of regulatory authorities may cause imprisonment of up to three years for developers and up to one year in case of agents and buyers\u00a0. it will make mandatory for the builder to disclose details like approvals received, layout plans, court cases against them,registration etc.<\/p>\n

Demand will improve as buyers will have increased confidence about investing in the property<\/a> market. The real estate prices will remain stable now but rates could rise in the next six months.\u00a0RERA will boost the confidence of investors.\u00a0It will protect buyers who have purchased flats in the past. the RERA will provide relief to home buyers.\u00a0It will help buyers get well-defined product typology and interior specifications. Therefore, Buyers will be able to make informed decision on a well laid-down information.<\/p>\n