Rera Registration

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The Real Estate (Regulation and Development) Act, 2016 (RERA) act was passed by parliament May 2016 across India. The Real Estate Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 square metres, or eight apartments, to register with the Real Estate Regulatory Authority (RERA) for launching a project, in order to provide greater transparency in project-marketing and execution.

The main aim of RERA is to provide relief to the buyers from the malpractices of unfair builders. RERA specifies certain norms for building and development of real estate which will enhance the transparency in transactions in the real estate sector. Real estate agents will be provided a registration number by the regulator which they have to mention in every property sale.