November 14, 2017 at 10:16 pm #136062
I was trying to purchase a 2 BHK apartment in Noida. I visited and tried to find a lot of move in properties in Noida. I asked many a builder about RERA affiliation, All of them said that they are RERA certified. How I would trust them and I how I can actually evaluate that they are saying right and my investments are safe. Anyone please share your inputs.November 14, 2017 at 10:17 pm #136063
I need it urgently, please reply back.November 17, 2017 at 2:33 pm #136128
As per RERA every Indian State and Union Territory will have its separate Regulatory Authority (RA). The job of the RA will be to frame rules & regulations as per the provisions in the Act.
Soon there will be online access to infra projects. The RA of a particular State or UT will hold the responsibility to register and regulate real estate investment projects. Real Estate developers/builders/agents will be required to register under this Act. Thereon, RA will also be required to maintain a website for public to view and be informed, on all real estate projects that have undergone registration.
Once registration of agents/builders have been processed a Login-ID and password will be created for the same. They can then create their project page on regional RA’s website and upload the respective project information for the general public to generate interest and queries among buyers and investors. As per the process quarterly update status of sold/booked units is required.
As of now you can refer to https://maharera.mahaonline.gov.in/Home/Index. Maharashtra State Regulatory Authority has taken this initiative though I feel the website needs to have information feasibility in terms of language barrier.
Hope this information will be of use Mr.Saket.
(Please note: the below information is as per my grasp of the information. There could have been certain changes that I may not be aware of or could be my interpretation to be something else in some case if be ).
November 21, 2017 at 10:58 am #136177
- This reply was modified 1 year, 4 months ago by Ramesh Sharma.
I think you are right. But don’t you think there is so much information which is still under the carpet and people are not aware of it. It feels like, we have created another layer of information which is leaving people away from investment.November 22, 2017 at 6:31 pm #136211
I think before looking for RERA affiliated developers, let’s wait for RERA to roll out completely on ground. It has not been implemented by more than 85% of the states. The three states that have rolled it out have diluted the original draft, making it convenient for the developers.
RERA, in totality is one of the best thing to happen to the Indian real estate sector. However, the legacy of lackadaisical attitude by the governments and authorities is killing it. I just hope government wakes up in time.December 15, 2017 at 4:19 pm #136502
See! Twisting the law was always the case with this category of business and will remain so. The enforcement of the law is a necessory step for the government. No matter what law you bring, enforcement is the key to bring transparency and clarity to the business segment.
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