How is RERA changing the real estate market

RERA act

When you are looking to buy a new home or finding the perfect investment opportunity in the real estate market. One thing that home buyers do not want is dealing with fraudulent activities from the developers which leads them to either losing their money or their home or in some cases both. 

The government of India saw that there was no clear legislation to govern the real estate market. Therefore to protect the interest of innocent buyers the parliament passed the Real Estate (Regulation and Development) Act, 2016. Commonly known as RERA.

The buyers faced a lot of problems before the enactment of this legislation, some of them are:

The biggest problem faced by the buyers was that there was no RTI in the real estate sector, Which meant that they had no right to ask for the legal documents of the property before investing in it.

They also had no right to claim a refund or compensation of any kind if the developers failed to deliver the property as per agreement.

There were many other ways in which the developers were bending the rules to exploit the buyers. This was the main reason behind the enactment of RERA.

But This act is not only beneficial for the Buyers, there are certain ways in which it benefits the developers too.

This act will help genuine builders to build trust among their buyers as they can get a RERA certification as it acts as a symbol of the trustworthiness of the project and the developer itself. Buyers will readily accept projects that are RERA certified rather than the ones without proper certification.

Another benefit that will come from this is that the real estate market will become a lot more regulated and the illegal builders will find it even more difficult to survive as RERA will bring a lot of transparency to the market.

Roongta developers are readily accepting this amendment as we have registered all our projects with RERA. At Roongta transparency and trustworthiness are our main values as we strive to make your home buying experience as smooth as possible.

All our projects have been aimed at providing complete transparency, timely delivery and handovers of units. The entirety of our projects are registered with RERA and all our future projects will definitely follow suit.

We at Roongta Developers always try to make a conscious effort in order to make sure that we are always in line with all the rules, regulations and policies set by RERA. We strive to always keep our quality standards high so that the buyers do not have to face any inconveniences before, during or after the purchase of their property. These are some of the qualities that sets Roongta Developers apart from the rest, making us one of the best real estate developers in Gujarat.