- 8th Mar, 2025
- Real Estate Company
The Top Benefits of Buying Property Under RERA: What Home Buyers Need to Know
Are you a prospective home buyer looking to purchase a flat or an apartment? Well, you will be solicited not to make an abrupt nosedive into a purchase decision. In order to ensure transparency in the deal and amplify your safety, you should have a clear idea of RERA, the countable regulatory body that considers your rights as property buyers to be its prime concern. RERA stands for real estate regulatory authority. Since its inception in the real estate sector, it has been touted as a game-changer. An authentic real estate company in Kolkata has to abide by the regulatory body to orchestrate utmost transparency.
Crucial Benefits RERA Ensures for You
The chief objective of RERA, as a regulatory body, is to focus on accurate information, project registration and assisting inquisitive homebuyers make well-informed and secured decisions. If you choose to buckle down to the very core of RERA registration, you will get a clear picture about the benefits.
- Right to information: RERA empowers you immensely as it offers you the leverage of asking any amount of questions about the project you are interested in. If you are going to purchase a flat or apartment, you have the prerogative to ask all the essential queries which will help you make an informed decision.
- Grievance Redressal Facilities: Based on the powers provided by RERA, homebuyers can stay protected against any sort of malicious efforts made by promoters and builders. RERA has a crystal clear grievance redressal system which will secure all your crucial rights as homebuyers. You can lodge a complaint against the miscreants and expect to envision quick action within 45 days.
- Timely delivery of the project: With the inception of RERA, you no longer need to wait for a huge span of time. Promoters and builders are constrained to deliver the project to you within the timeline which they have promised to you. Timely delivery of the project is absolutely ensured these days.
- Structural defect liability: At the time of purchase or after purchasing a project, you might spot some errors or structural defects in the project. Previously, many dishonest promoters used to wash their hands off in such a scenario. However, builders are no longer in a position to make you suffer for structural defects ( a result of their negligence). There is a clause referring to Structural defect liability in section 14 of the RERA act. It clearly states that promoters will have to modify any defect (which results from their own faults) at their own will and cost.
- Compensation accrued on title defects: In case there happens to be any untoward situation due to a detective title scenario, homebuyers can get a scope to obtain compensation. Therefore, you will need to understand these clauses mentioned in the conveyance deed.
- Effective dispute resolution: With such a Power-packed act in action, you can perhaps look at an effective as well as super quick dispute resolution mechanism between the developers and homebuyers. Things will turn out to be more unambiguous between you and a real estate company in Kolkata.
Understand the Procedures and Documentation
As a home buyer, it is imperative that you comprehend the procedure as well as ancillary documentation well. When you do so, you stand a chance to get the real leverage out of this arbitrating mechanism. After all is said and done, keep a close tab on the legal aspects. Always ensure that you keep faith in an esteemed real estate company in Kolkata only. Remain informed and capitalize on bargains which are profitable to you at the end of the day.
