Defining Coordinates: A New Feature in RERA that will End Major Land Frauds

growth-Real-Estate-Market-752x440The tricks used by many promoters and real estate agents to fulfil their greed are many times related to the location of land. There have been innumerable cases where an agent shows a plot to a buyer, then, somehow manages to change the location of that land (by changing the layout of the numbering of the plots or any such way). While making an agreement, due to the undefined location of plots, many buyers have been cheated as the agents give them different land allotments which were not favoured by the buyer. The new policy of defining coordinates i.e. providing details in the government documents and the builder-buyer agreement of the latitudes and the longitudes of the plot is the most fascinating feature of RERA (Real Estate Regulatory and Authority) which will end the problems of buyers one and for all.

If a buyer gets the exact latitudes and longitudes of his plot, his plot “positioning” will never change. The Real Estate Regulatory Authority Act of 2016 has carefully laid down this highly affective way to deal with unfair tactics of some promoters and agents. One can understand the depth of this law as it is the most transparent way to curb with problems coming in real estate. This will also protect buyers from getting robbed of their money in those processes in which a cunning agent resells the same piece of land multiple times. The information of a particular coordinate will be uploaded on the RERA website where people can check about it. This will save precious time of some buyers who care to know about their plots by researching about it in courts and archive offices. We are living in the information age, but information is the core thing that the traditional real estate has been hiding from the people. The revolution in real estate has begun with the coming of RERA, which aims to make real estate as transparent as it could be. It goes by the notion of making a buyer aware that he is liable to know as much about his property as his real estate agent or promoter knows.

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