What is RERA?

What is RERA? Ever wonder at the changes in the real estate market over time? An important factor in changing the real estate market in India is the Real Estate (Regulation and Development) Act, or RERA. RERA was enacted in 2016 with the objectives of promoting greater openness, safeguarding the interests of purchasers so that buyers could buy their dream home at some of the best projects like Godrej Kokapet and regulating the real estate industry, which had been beset by problems including fraud, delays, and a lack of responsibility for a considerable amount of time. The goals, mechanisms, and effects of RERA on the real estate sector will all be discussed in this article. The History of RERA The Indian government adopted RERA on May 1, 2016, in response to a growing number of homebuyers' concerns about builders' fraudulent tactics, inflated pricing, and delays in project completion. Prior to RERA, there was no single regulation that regulated the whole real estate indust...