Overview of RERA Registration
RERA Registration is a registration covered under the Real Estate (Regulation & Development) Act. RERA stands for Real Estate Regulatory Authority which was established to regularize the problems that subsist in the real estate sector. Before Advertising, Marketing, Book, sells or, offers for sale or, invite persons to invest in any plot, apartment, or building is it mandatory to get the RERA registration. It is done in order to accompany with the bellow mentioned dependability, which are as follows:-
- Ensures Transparency;
- Accountability (By minimizing the chance of fraud);
- Provides the benefit and maintains the interest of the promoter and purchaser.
The RERA Act is implemented at the state level, and the authorities governing the act are responsible for below mentioned things:-
- Registration and related approvals for the registration under RERA of commercial properties and residential flats.
- Regulating the sale and purchase transactions of real estate properties.