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What is RERA?
The Real Estate (Regulation and Development) Act, 2016 or “RERA” is an Act by the Indian Parliament to protect the interests of home buyers and boost investments in the real estate sector. According to RERA, every real estate project (where the land exceeds 500 sq. mtrs. or more than 8 apartments is proposed to be developed in any phase) must be registered with RERA.
What is the purpose of RERA?
Purpose of RERA is to protect customers especially through the period of the construction of the project. It is to provide relief to the buyers from the malpractices of unfair builders
What are the benefits of RERA for the home buyer?
The RERA Act serves as a big benefit to eliminate deceitful builders.
If you wish to buy a home with the help of a housing loan, there are various factors to be considered while choosing the right lender and safeguarding your money. Once your home loan eligibility is established by the Bank (or the NBFC), rest assured that you have taken a wise decision in opening the doors to your aspiration of buying your dream home.
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