As the RERA that stands Real Estate Regulatory Authority got introduced in 2016 and it bought so many changes. The property for sale caught everyone’s attention and boosted the growth.
The government intervention has made real estate stronger and transparent. It has created reliability in the sector and as the first step when looking for property in Noida was to learn the foundations of the law. This regulation is envisioned to improve and secure the real estate sector for buyers and protect their interests.
RERA Has Impacted The Real Estate Sector In Many Ways Such As–
1. Removal Of False Practices
Earlier it was considered that the real estate sector is exposed to frauds, insolvency of developers. But with the advent of RERA, the commercial and residential properties for sale has gone a long way and magnetised the interests of the buyers. People who are purchasing property in any area might have seen the positive effect real estate market has become transparent and fair.
2. Standard Sale Agreement
Under RERA both buyers and sellers have got equal authority which is one of the most important points. There are many builders who used to take money from the buyers and vanish from the market. And also, there was no penalty on the seller’s side previously and only buyer was liable for loss when they buy apartments for sale. With RERA in effect, all parties must equally create and enter into a standard model.
3. Return of Investor’s Confidence
Buying property for sale is always considered profitable in the long run and with RERA investors are keener in investing. It will further give a boon to the industry leading to a secured future.
In the end, it is just RERA succeeds in bringing about significant change in the sector and assisting buyers in more ways than they could have imagined.
