New Real Estate Projects Need to Show RERA Registration Number..! - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Saturday, November 04, 2017

New Real Estate Projects Need to Show RERA Registration Number..!

 New Real Estate Projects Need to Show 
RERA Registration Number..!
by Mr. SHVETA JAIN, MD, Real Estate Private Wealth Services
Since now RERA is implemented and regulators are already in place, am I assured of timely delivery and covered against misrepresentation?
Can I ask a developer to share its RERA registration number?
RERA is created to protect the home purchases made by end users putting in their hardearned money. The main aim of RERA is to ensure that whatever a builder promises, the same is delivered. The developer is obliged to give the purchaser all information on the proposed apartment and if there is anything that the purchaser sees is not been honoured, that can be raised with the regulatory authority for redressal.
As a purchaser, you can ask to see a copy of the RERA registration, though every project since May 1, 2017 is required to carry the RERA registration number on any and all marketing and advertising material.
Is it better to opt for a RERA-registered property if am looking to finance it through home loans?
Banks when loaning to individuals are looking for properties that are clean title and have no legal hassles like multiple claimants, track record of the developer, any bad debts, any additional leverages on the property, etc.
Having a RERA certification will add to the sheen of a project for its eligibility for home loans. The eligibility criteria for an individual applying for home loans remains the same.


New Real Estate Projects Need to Show RERA Registration Number..! Reviewed by S. Chitra on November 04, 2017 Rating: 5   New Real Estate Projects Need to Show  RERA Registration Number..! by Mr. SHVETA JAIN, MD, Real Estate Private Wealth Services Si...

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