RERA stands for the Real Estate Regulatory Authority. The RERA Act was brought in to eradicate problems within the sector. It aims to reduce project delays and mis-selling. At present, it is compulsory for all builders or developers to carry out RERA registration before they start a project
Applicability of RERA: It is applicable to all builders where the area of land proposed to be developed does not exceed 500 sq meters or the no. of apartments proposed to be developed does not exceed 8. Where the Promoter has received completion certificate before the introduction of RERA. For the purpose of Renovation or Repair or Re-development which does not involve marketing, advertising, selling or new allotment of any apartment, plot or building.
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