The Real Estate Regulatory Act (RERA), arguably the biggest reform in the real estate sector, is a game changer for both buyers and developers. The act is transforming the look of real estate industry by bringing more regulation in the market.
RERA passed by the parliament seeks to protect the interests of home buyers and boost investment in the real estate sector. RERA aims to create a fair mode of transaction between the sellers and buyers of properties.
RERA protects the buyers from unethical trade practices. The act makes it obligatory for each state to form its regulator and frame rules for the regulator to function. With such positive reforms in the picture, the formation of RERA is a boon for the home buyers.
The implementation of RERA is surely bringing in positive changes to both the industry and home buyers. With the passage of time, a significant boost in sales and foreign developments will occur.
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