Investing in property is one of the most profitable investment options. It’s also a great way to save money for your future or for your children as an investment option. You can buy a house or any other property and get returns monthly or in installments as well. However, there’s a lot of confusion about real estate investing, whether it is a good idea and which to opt for first.
Investing in real estate a challenging task?
Real estate is an excellent investment opportunity. In fact, investing in a house is a high-quality investment that has consistently earned more money than bonds and stocks over the past 100 years. However, many people find investing in real estate intimidating because they don’t know how to get started or just how to make it work for them.
Is RERA approved projects are safe to invest?
As a buyer, you can now trust that the project you’re investing in is safe, legal and built on good terms. The real estate sector has seen significant changes since RERA was implemented. Now buyers know the exact price at the time of bidding and developers can no longer sell a product that doesn't exist or have any illegitimacy about it.
How RERA interest will be calculated?
RERA has prescribed detailed norms for calculating interest payable to the buyer. Interest rate is 10% of the cost of the project and it is mandatory that the developer hands over possession on schedule as disclosed in the Rera website. A late fine will be imposed if he does not do so.
Is it safe to buy non RERA approved projects?
Yes, we all have to buy from somewhere. So, I would like to ask you, is it worth buying in a project that is not registered with RERA? This is why you should beware of buying in a project under construction that is not registered with RERA. Real Estate Regulatory Authority (RERA) is a regulatory body that was formed to protect the rights of homebuyers. If your builder fails to register his project with RERA, it is his fault.
Is rera approval mandatory for plots?
RERA is a registry for all your project sales, it records all the details of a project and also lets you know if the project is registered or not.If you are looking to buy any property in Telangana, you should check the legality of it. For this purpose, you can contact the RERA Telangana and find out whether the particular project was registered with them or not. This will ensure that your money is safe, and also help you get reassurance on whether the builder has a license or not.
If you are interested in investing in property, then you should definitely look into RERA. The Realty Regulatory Authority Act allows a great deal of flexibility and also requires simple paperwork, so you can start investing as soon as possible.
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