Buyers Will Not Hold For Possession, Get Refund Immediately
RERA become effective across all the states from 1 May 2017 and from then the new rules and regulations were formed to control unacceptable activities in the real estate market to spur the real estate sale & demand.
OBJECTIVE……..
The main objective of RERA is to protect the customers and give them possession on time because in the past many problems have been witnessed and because of which real estate investment tagged as the “Wrong idea” and the home buyers and investors started avoided and planned investment in other sectors.
So somewhere, this rule was mandatory to keep everything into account and bring a “fret free investment” experience.
RERA TO CONTROL……..
- Trouble free investment
- Deliver project on time
- Take care of the construction quality
- Builder doesn’t make any false promises to the home buyers and investors
- Surely to refund complete amount
- Simple interest of 10 per cent per annum (from the date of payment)
CREATED CONCIOUSNESS……
So this prime implementation has created possessiveness in the Real Estate Builders and now they make sure that the project they come up with is delivered on the given them because a heavy penalty will trap them.
Recently, one builder failed to deliver the project on time to the Gurgaon based home buyer and the builder had to refund Rs 9 Lakhs to him, so this gives assurance to the home buyers that their hard earned money will not go anywhere and if in case, builder fails, then you will get your amount and in fact, a simple interest of 10 per cent per annum (from the date of payment) will add extra comfort.
PLAN YOUR INVESTMENT WITH NO FEAR……..
Now if you have a plan and looking for a profitable property for investment, then surely you can for if because there are many leading projects available in the market such as Conscient Hines Elevate, Sobha City, DLF Crest, Tata Eureka Park, Godrej Palm Treat and more by all the leading builders that ensures you get a secured investment deal and other than this, if in case, the builder fails to meet the expectations, then an intact action will be taken.