The festive season has begun and it may well be the time when you are about to crack the best property deal for you. Also, in terms of the price, the real market that still is going through a sluggish phase can be putting on offer various deals. At the same time, it is also being opined that the concept of smart cities is only going to make potential properties pricey for the end consumers.
How does RERA website helps is property selection?
Choose the locality: Once you have zeroed-in on the area and the city where you want your potential property to be located, you need and should visit the RERA website. After the RERA Act has come in play, all residential projects covering an area of over 500sq meters or having more than eight flats need to be registered with the RERA of that particular state or UT. Also, all the detailed information of the project have to be provided to the authority such that consumers are better off and can make an informed decision.
So, on visiting the website of RERA you will be provided with the complete details of the registered projects in the area of your choice.
Developer in respect of credibility can also be cross-checked: When it comes to property purchase, the developer and his credibility in respect of a number of factors is worth considering. These factors include timeliness of his project delivery, construction quality and default if any in the market. All such information with detailed past records are put on the website for consumers to well verify. Financial standing and details are also pertinent on the site.
Project details: Now complete details of the project including approved projects, lay-out proposed and planned, clear title of the project as well as carpet area are now explicitly put forth. If you have an interest to buy out a property in some ongoing under-construction project then clear statement per se the number of units booked under that project is provided. So, you well be able to know the interest of consumers in a particular project. Also, the exact commitment date for project delivery is also specified.All other crucial information such as essential facilities and the wip on them can also be known.
But it is to be noted that till date some states are yet to notify their final guidelines on RERA and so not all states have come up with a dedicated RERA portal for home buyer's help.