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RERA Act became effective from May 1, 2017 after a long and tiring struggle. Everywhere people are talking about this Act and how is it going to benefit? RERA does bring a bunch of advantages for home loan borrowers and here are some of them with most frequently asked questions.
Table of Contents
- 1 Frequently Asked Questions (FAQs) on RERA Act
- 1.1 What is RERA?
- 1.2 Who can be benefited with RERA?
- 1.3 What was the need for setting RERA Act?
- 1.4 In which states is RERA implemented?
- 1.5 What is the time limit for grant of registration by RERA?
- 1.6 What are the key terms that have been defined in the Act?
- 1.7 What are the objectives and reasons for which the Act has been framed?
- 1.8 Does the Act cover both residential and commercial real estate?
- 1.9 Does the Act cover ongoing / incomplete projects?
- 1.10 Does the Act cover all projects in urban areas and in rural areas?
- 1.11 What if the possession is delayed?
- 1.12 What about the land purchase loans?
- 1.13 What is the best thing about RERA Act?
Frequently Asked Questions (FAQs) on RERA Act
As you can see that RERA would bring transparency in the real estate deals which will definitely help you buy your dream home without any hassle. So, smile now because now is the time for you to enjoy this privilege given to you by the government.