The Real Estate Regulatory Authority (RERA) has transformed property transactions in India, establishing stringent regulations to protect buyer interests. RERA mandates project registration, ensures timely delivery, maintains financial transparency, and provides grievance redressal mechanisms. Property buyers benefit from verified project details, standardized agreements, and legal protection against builder defaults. RERA requires developers to deposit 70% of project funds in escrow accounts, ensuring construction completion. The authority maintains comprehensive project databases, facilitating informed buyer decisions. Compliance requirements include carpet area disclosure, project specifications, and completion timelines. RERA tribunals efficiently resolve disputes, empowering buyers with legal recourse. Understanding RERA provisions helps buyers make secure property investments.
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