What is the impact of RERA in real estate sector?

The RERA Act has brought transparency and accountability in the real estate sector to facilitate the interests of buyers. According to RERA Act, a real estate project must have a RERA registered number on all marketing collaterals.

• All information from the beginning should be synchronized with the RERA submission so that the sales process becomes smooth, transparent and informative.
• The developers / Promoters are legitimate to provide accurate information approved under RERA without misleading buyers. 
• Agents/channel partners working for the project must also register themselves under RERA and developers/promoters must also share their name in RERA as the seller of that particular project.
• A promoter may not accept more than 10% of the cost of an apartment as an advance payment or application fee without entering into a written agreement for the sale with the allottee.

Related FAQs

Latest RERA News