What is the RERA Act? Impact of RERA on Indian real estate
The history of real estate has been corrupted by fraudulent transactions which rested heavily in favour of the developers! The Real Estate Regulation (and Development) Act, 2016 (RERA) was enforced on May 1, 2017 to combat this scenario. The main purpose is to boost investments and create a more transparent environment for real estate transactions. Asset Homes, eminent builders of flats in Kochi & flats in Trivandrum brings you an overview of what is RERA and its impact on Indian real estate. RERA has transformed the real estate industry and made real estate deals more accountable and transparent. RERA aims for a more equitable and fair transaction between the sellers and the buyers. It has brought in a structured outlook to the real estate sector which has been weighed down by the intricacies of red tape. The stand of many of the Indian real estate companies who have risen to the challenge & the work put in by the regulators who have meticulously ensured the implementati...