ALL >> Real-Estate-and-Foreclosure >> View Article
Real Estate Regulatory Act (rera) And Its Rules In Telangana
Until RERA (The Real Estate Regulation Act, 2016) came into force, the real estate sector was largely unregulated where the grievances of the buyer and seller were addressed in the consumer courts.
Lack of regulation made investing in real estate unpopular among people. The real estate industry needed a regulator who can frame rules, regulate transactions, and bring in more transparency to the sector. RERA is the answer to all the needs of buyers and sellers.
To summarise, the need for regulating the real estate sector are:
To standardise all real estate transactions.
To bring in more transparency.
To set up a grievance redressal forum.
To protect the interests of consumers, builders, intermediaries, and so on.
Let's look at the brief history of how RERA was enacted.
In January 2009, a law to regulate the real estate sector was proposed by the National Conference of Ministers of Housing, Urban Development and Municipal Affairs of State and Union Territories (UT).
The Real Estate Bill, 2013 was first introduced in Rajya Sabha in June 2013. After revision based on changes ...
... recommended by the Standing Committee, the Real Estate Bill, 2015 was passed by Rajya Sabha, Lok Sabha, and approved by the President of India in March 2016.
So, why are we writing about RERA? RERA is one of the most important regulations in the real estate sector, and we are writing a blog series simplifying RERA.
What is RERA?
RERA is The Real Estate (Regulation and Development) Act, 2016.
What is the aim of RERA?
RERA aims to regulate and promote the real estate sector by
Ensuring sale of the plot, apartment or building in an efficient and transparent manner.
Protect the interest of consumers in the real estate sector.
Establish an adjudicating mechanism for speedy dispute redressal.
Establish Appellate Tribunals to hear appeals.
More info @ https://propertyadviser.in/news/real-estate/rera-act-in-telangana-hyderabad-332
Add Comment
Real Estate and Foreclosure Articles
1. Office Glass Sliding Doors: A Stylish And Space-saving Solution For Modern WorkplacesAuthor: Mywall
2. Flipping A Durham House? The Roof Decision That Makes The Margin
Author: Jimmy Jone
3. 50 Lakh Vs 1 Crore Property: Understanding Property Investment From Different Perspectives
Author: milestone
4. Resale Flats In Jaipur: Best Localities, Budget Tips And What To Check Before Buying
Author: Hariom Meena
5. Garage Door Problems That District Garage Door Problems That District Heights Homeowners Shouldn’t Ignore
Author: BWI Garage Doors
6. Sohna’s Emerging Retirement Lifestyle: Modern Homes, Wellness And Community Living
Author: Kuldeep Yadav
7. Can Rental Property For Investment Boost Your Income?
Author: Sensation Infracon
8. Commercial Property For Sale In India: How To Find Shops, Office Spaces And Investment Opportunities
Author: Hariom Meena
9. Resale Vs. New Build In Courtenay: What Buyers Can Actually Get For Their Budget Right Now
Author: Integra Homes
10. Why Gold Coast Is Seeing More Apartment Building Development
Author: Tactica
11. The New Retirement Lifestyle: Comfort, Wellness And Community Living In Sohna
Author: Kuldeep Yadav
12. Ready To Move Properties In Greater Noida
Author: Neeraj Kumar
13. Office Glass Sliding Doors: A Smart Choice For Modern Workspaces
Author: Henry Dcruz
14. Why A Dilapidation Survey Is Important For Commercial Property Leases
Author: Set Square Surveyor
15. Real Estate Investment Advisory In Hyderabad
Author: Arjun