RERA is the term used for the Real Estate Regulatory Authority by the government. In the year 2016 the government introduced “The Real Estate (Regulation & Development) Act, 2016 (RERA)”. The government aiming to bring transparency in the process of buying& selling of flats and boosts investment in Real Estate Sector brought this act in place in the year 2016, thereby protecting the interests of Home Buyers and ensuring timely delivery of the flats in new construction by the builders and developers. This act has also helped to regulate and bring discipline in the real estate sector.
All new projects either on land with more than 500 sqm or having the minimum of eight apartments, including the ones without completion or occupancy certificate needs to register for RERA. Builders & Developers need to present project details like layout plan, project plan, approvals, land title status,
details of promoters, contractors, architects, date of completion with the State RERA. This information is put on RERA websites by the government, buyers can access the information from the RERA websites. The carpet area is clearly defined in the law, The Builders & Developers need to put aside 70% of project funds in an Escrow account linked with the project. Builders will be penalized if there is any delay in date of completion and project deliveries, thereby ensuring transparency in the process with timely delivery of the property. The RERA act has got the discipline & stability in the process. Even the ongoing Projects that are in development on the date of commencement of this act and for which completion certificate has not been received needs to get registered with RERA, any project failing to register a property will attract penalty.
Advocate Akshay Shah and his team are well versed with Property & RERA Act and has a deep study and understanding of the same and hence are able to provide the complete solution for RERA registration and compliance, that is Project Planning, Project Registration, Documentation, Online Management with regular updates. In a very short period of time Advocate Akshay Shah is emerging as the best Propery & RERA Lawyer & Consultant in Mulund, Mumbai.
If you are looking for Property & RERA Lawyer in Mulund for RERA CASES on Property call Advocate Akshay Shah the best Property & RERA Lawyer & Consultant in Mumbai. To know more about Lawyer for RERA CASES on Property, get in touch with us. Advocate Akshay Shah will be more than glad to help you on RERA matters, call now for more information and consultation.