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The Real Estate Regulations Act, 2016 (RERA), is created with the intention of protecting the interests of home buyers. The main focus is on leveraging an added sense of transparency in the real estate sector. Endeavoring to establish as a mechanism for speedy redressal to disputes, RERA covers both residential and commercial real estate segments. With the implementation of RERA, it is believed that real estate purchase will be much simpler with an enhanced focus on bringing in better accountability and transparency.
Home aspirants who are seeking to get a new home with a home loan can breathe a sigh of relief with this Act. One of the most influential aspects is it provides a unified legal regime for the purchase of flats, apartments, among others. Additionally, it also seeks to standardise the practice across the country.
Some of the points for RERA include:
The implementation of the RERA Act will ensure transparency in real estate sector and the people who are opting to choose a housing loan based on home loan eligibility calculator can avail their dream home without any hassle.