What is the meaning of RERA registration?
The Real Estate Regulatory Authority, or RERA, was established in 2016. The RERA Act of 2016 aims to boost investments in the real estate sector while safeguarding homebuyers. All states have enacted the RERA law to govern the real estate industry.
The Purpose of this Act is?
to create the Real Estate Regulatory Authority in order to govern and advance the real estate industry. to build an adjudicating framework for prompt dispute resolution and to safeguard consumer interests in the real estate sector.
Why is RERA registration important?
By requiring builders and developers to furnish timely, accurate, and thorough information about the project so that buyers can make an informed decision when purchasing any property, RERA ensures the highest level of transparency in every real estate transaction.
What kind of documents required for RERA registration?
- PAN Card.
- Details of the real estate agent enterprise (Name, registered address, enterprise type i.e. proprietorship, societies, partnership, company, etc.).
- Registration particulars (including bye-laws).
- Memorandum of Association.
- Articles of Association.
What is the benefits of RERA registration?
Consumer Protection: By encouraging responsibility and openness in real estate transactions, RERA registration guarantees consumer protection. It creates a structure for ethical behavior, guards against fraud, and gives complaints a way forward.
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