Is it safe to buy a project not approved by RERA?

Is it safe to buy a project not approved by RERA?

No. Buying a project that is not approved by RERA is not always a good decision and can put you in serious trouble. You should be careful about buying a project under construction that is not registered with the Real Estate Regulatory Authority (RERA) and it is illegal to buy such a project. Banks were asked to withhold funds at the project level or the retail level. This means that the bank may refuse to release further installments related to the loan amount if the project is not registered with the RERA Authority in the state. We do not recommend investing in projects that are not registered under RERA.


Related FAQs

When was the RERA Act notified in the e-Gazette?
The RERA Act was notified in the e-Gazette on 26…
Read More
What is the impact of RERA in real estate sector?
The RERA Act has brought transparency and accountability in the…
Read More
How many days does RERA need to register a real estate project?
Subjected to the Rules and regulations of the RERA Act,…
Read More
Is RERA applicable to all over India?
Yes. The RERA Act mandates that every state and union…
Read More
When was the RERA Bill proposed?
The RERA Bill was drafted in 2013. It was passed…
Read More
What is RERA Act in Telangana?
In Telangana state, the RERA Act came into existence on…
Read More

© 2023 Rera News. All rights reserved.