RERA (Real Estate Regulation and Development Act, 2016) is a landmark law that regulates the real estate sector in India. It ensures transparency, accountability, and timely delivery of projects. The Act protects homebuyers’ interests, promotes fair practices, and improves the efficiency of real estate transactions. It applies to both residential and commercial projects and mandates registration of projects and real estate agents with the Real Estate Regulatory Authority before marketing or selling.
Under RERA, developers must provide accurate project details, including layout plans, approvals, timelines, and financial disclosures. If developers deviate from approved plans or delay project delivery, they can face penalties and legal action. Homebuyers have the right to claim refunds, compensation, or interest in case of defaults or misrepresentation.
RERA also sets up Regulatory Authorities and Appellate Tribunals to resolve disputes between buyers, developers, and real estate agents efficiently. Seeking guidance from experienced rera lawyers in delhi helps homebuyers and developers navigate these legal procedures smoothly.
Professional rera lawyers in delhi can assist in filing complaints, representing clients before tribunals, and ensuring compliance with all RERA provisions. Their support safeguards property buyers’ rights and strengthens trust in the real estate market.
Overall, RERA plays a key role in protecting property buyers, enforcing accountability, and fostering transparency in India’s real estate sector.
