123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

Real Estate Regulatory Act (rera) And Its Rules In Telangana

By Author: Pradeep
Total Articles: 3

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

Total Views: 19Word Count: 287See All articles From Author

Real Estate and Foreclosure Articles

1. Things You Have To Think About Property Duty Execution In Sindh
Author: ijaz yousaf

2. Consider Investing In Property In Nottingham For High Yields
Author: Graham Flaherty

3. Property For Sale At Noida By Ats Kabana High
Author: Propfrill

4. Get Yourself Acquainted With How The Home Inspection Works In Toronto
Author: Golden Home Inspections

5. Scaffolding Makes Construction Work Easy
Author: shahidahussan

6. Nj Industrial Property For Sale
Author: Blauberg

7. Precious Locale For Precious Lifestyles - The Wakad Advantage
Author: DS Group

8. What Are The Important Benefits Of Using A Certain Property Management Company?
Author: Rick Lopez

9. Finding The Right Student Accommodation Is A Tricky Affair
Author: Pieter Jamison

10. Evolving Demands Of Modern Homebuyers In Lewes, De
Author: Vineyards by Fernmoor Homes

11. New Construction Long Branch Condos For Sale
Author: Piervillage Lofts

12. Benefits Of Buying A New Home Rehoboth Beach
Author: Liberty by Fernmoor Homes

13. Apartments In Goa - Zuari Rain Forest
Author: Zuari Infraworld

14. Best Pier Village Long Branch Condos
Author: Piervillage Lofts

15. How To Find The Best Lot To Specifically Build Your Custom Home?
Author: Rick Lopez

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: