The property buyers of India are in sheer sorrow due to the difficulties presented by the promoters and the real estate agents. There is numerous complaint against the promoters. We are not talking about every promoter or every real estate agent by everyone knows that there are some people who are not being honest. Due to their unending greed for money, the innocent buyers have to suffer. There are many cases registered where we can find that a buyer looking for a home for his family has to spend his time complaining against the builders. These complaints come in regards to late possessions of apartments by the promoters, unreasonable charges, change of plans etc.
Due to the endless complaints, the Real Estate Regulatory Authority Agency has taken the matters into its own hand and has formulated an agency known as RERA (Real Estate Regulatory Authority). RERA has brought some milestone changes regarding the laws in real estate sector of India. The wholehearted commitment of the government into maintaining fair play in the property business has come as a big relief for the buyers. Apart from the buyers, the promoters and the real estate agents who go by the government norms, but have to suffer from the spread of bad word against them due to some ill practices by some promoters and real agents, also will feel happy and relieved.
meraRERA is a portal made to make a healthy relationship for the promoters, agents and the buyers. It is very necessary that these three bodies work in tandem and help each other as the real sector of any country is its right arm regarding its economy. Apart from informing the promoters about the new guidelines, they have to follow and their functions in order to maintain a just way of purchasing and selling a house. meraRERA is also trying to make the real estate agents more efficient and customer-friendly so that the communication gap between a buyer and a promoter cannot lead to major issues and problems. All this will be done so that a buyer never feels cheated again.
RERA has set up some fundamental functions for the buyers which are laid upon as their rights.
Moreover, the establishment of RERA with those of Central Advisory Council and the Real Estate Appellate Tribunal will work to enhance the real estate market of India, bring the buyer confidence back and penalise those promoters and real estate agents who work unethically.
RERA has designed these functions in their bill. meraRERA’s team has done thorough research on the Real Estate Regulatory Bill as we know that there are many instances where a common man does not know that there are many rights and functions in the law that can help them win any case if they are right. The problem with us is that we get afraid by listening to stories about corruption from the government and the promoters. But, one must understand that these are only some people. The majority of the people still have faith in honesty. Thus, we request our common man to know their right and functions properly so that tomorrow no one can cheat them. For the promoters and the real estate agents, we think that if all the good ones can come to one side, then it will be easy for the government to capture the outlaw. For this, adhering to the guidelines set by RERA is very important for everyone.