Real estate across the country is already witnessing signs of revival. In the last couple of quarters in this financial year, sales have witnessed more than 20% improvement over last year.
RERA Act, 2016 and further with more positive reforms a new face of real estate sector free from all encumbrances will evolve.
The Gujarat RERA has been able to solve the grievances of more than 65 Complainants by disposing off their cases in fast track manner within a tenure of one year only.
After the implementation of the RERA Act, the State of Gujarat has notified its final Gujarat RERA Rules, 2017 on 29.10.2016 which prescribes regulation, form and process.
The on-going projects cannot come under the category of the new projects only for the purposes of not paying the penalty against the delay in registering an on-going project.
Gurugram, Haryana wherein in the month of September alone 52 notices were issued by RERA against various builders against the receipt of the complaints.
The Promoter/Developer has to make available to the home buyers the layout/sanctioned plans of the project along with its specification and the approval by the authority.
The Housing Societies are also brought under the authority of RERA, immediate relief can be sure shot guaranteed, since the Complaints herein are dealt in an expeditious manner with instant relief to the innocent buyers.
Remedies for the home-buyers who are aggrieved because of the defective title of the land can file a complaint before RERA Authority or Adjudicating officer of the State.
Subvention Scheme, which supports the home buyer financially to invest in a property. But are these schemes even benefitting the home buyers or causing great losses to them.