The following are the key provisions included in the RERA Act notified by the Government of India.
The RERA Act stipulates that commercial and residential real estate projects larger than 500 square meters or eight apartments must be registered with the State's Real Estate Regulatory Authority (RERA) before the launch.
According to RERA Act, at least 70% of the buyer's money is kept in a separate account. This money is allocated to builders only for construction and land-related expenses.
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