rera | real estate regulatory act

RealEstateRegulationActM A R K E T T H A T I S B O U N D T O W I T N E S S G R E A T E R T R A N S P A R E N C YA N D A C C O U N T A B I L I T Y F O R B U Y E R S I N 2 0 1 7

WHAT IS IT?As SEBI is forsecurity transactions.

RERA is forpropertytransactions.

HAWK EYESON TRANSACTIONSThe real estate regulator will governboth residential and commercialtransactions.

BRICK BYBRICKMandatory fordevelopers toshare every bit ofprogress onprojects with thestate.

TO PARK FUNDS

70%of the project funds will be parked in adedicated bank account so that noother investments are made.

AND FOR THECONSUMERDelay in projectcompletion will makethe developer liableto pay the sameinterest as the EMIto the consumer.

AFTER SALESSERVICEFor any deficiency in theproject, buyer can write to thebuilder for after sales serviceupto one year.

YOU GET WHATYOU PAY FOR

900SQF 3 RMS 2 BATHS

Developer cannot makeany changes to the planthat had been sold with-out the writtenconsent of the buyer.

WHAT IF?The maximum jail termfor a developer forviolating the order ofthe appellate tribunalof the RERA is threeyears with or without afine.

Thanks forwatching.T h i s i s u t t a m i n a t o r