The document discusses the provisions under RERA. It states that it is mandatory for developers to register projects over 500 sqmts or with more than 8 apartments with RERA. Plans and permissions can only be changed with permission from 2/3 of buyers. Developers must compensate buyers for any project delays. Buyers can view project documents online and developers must upload sanctioned documents within 3 months of registration. Transparent transactions and governance are advantages for developers and agents must be registered under RERA to operate legally. A case study of a residential project is provided as an example.
The document discusses the provisions under RERA. It states that it is mandatory for developers to register projects over 500 sqmts or with more than 8 apartments with RERA. Plans and permissions can only be changed with permission from 2/3 of buyers. Developers must compensate buyers for any project delays. Buyers can view project documents online and developers must upload sanctioned documents within 3 months of registration. Transparent transactions and governance are advantages for developers and agents must be registered under RERA to operate legally. A case study of a residential project is provided as an example.
The document discusses the provisions under RERA. It states that it is mandatory for developers to register projects over 500 sqmts or with more than 8 apartments with RERA. Plans and permissions can only be changed with permission from 2/3 of buyers. Developers must compensate buyers for any project delays. Buyers can view project documents online and developers must upload sanctioned documents within 3 months of registration. Transparent transactions and governance are advantages for developers and agents must be registered under RERA to operate legally. A case study of a residential project is provided as an example.
THE PROJECT UNDER RERA ALONG WITH VALID REGISTRATION NUMBER. EVERY PROJECT MEASURING MORE THAN 500 SQMTS OR MORE THAN 8 APARTMENTS WILL HAVE TO BE REGISTERED WITH RERA. PLANS AND PERMISSIONS CAN BE CHANGED ONLY WITH THE PERMISSION FROM 2/3 RD BUYERS. IT IS IMPORTANT TO COMPENSATE THE CONSUMER FOR THE TIME DELAY. ADVANTAGES FOR PURCHASER THE BUYER CAN VIEW THE PROJECT RELATED DOCUMENTS ON THE ONLINE INFORMATION PAGE OF RERA.
UPLOADING OF SANCTIONED DOCUMENTS WITHIN 3 MONTHS OF
REGISTRATION.
THE PROMOTER HAS TO REGISTER THE PROJECT AND FORM
THE SOCIETY AS EARLY AS POSSIBLE EVEN IF THE PROJECT IS UNDER CONSTRUCTION FOR THE BUYER TO HAVE A EASE IN FURTHER PROCESSING FOR BUYING. ADVANTAGES TO DEVELOPER
TRANSPERENT TRANCTIONS FROM THE BUYERS END.
FREE TO PROPOSE AND GET ALL THE REQIRED
PERMISSION FROM THE AUTHORITYS AS SOON AS POSSIBLE.
GOVERNING BODYS WILL NOT INTERFERE UNLESS
MENTIONED OR COMPLAINED. ADVANTAGES TO AGENTS 1. AS PER THE GOVERNMENT RULES, ONLY REGISTERED AGENTS ARE LEGALLY ALLOWED TO FUNCTION IN THE REAL ESTATE BUSINESS.
2. IT IS STRESSED THAT THE REAL ESTATE AGENTS,
ARCHITECTS, STRUCTURAL ENGINEERS AND SIMILAR PARTIES HAVE TO REPORT TO THE APPELLATE FOR GUIDELINES. CASE STUDY FOR RERA NAME OF THE PROJECT:JEEVAN HEIGHTS
TYPE OF PROJECT:COMPLETE RESIDENTIAL
(S.R.A)
LOCATION:NEAR BUNDER BOHKARDI MARG
KANDIVALI(W)
PROMOTER: J.P DEVELOPERS
JEEVAN HEIGHTS INFORMATION PROVIDED DECLARATION CERTIFICATE AGREEMENT FOR SALE ALLOTMENT LETTER PAYMENT SCHEDULE KNOWLEDGE GAINED BY HAVING A CASE STUDY FOR THE SITE WE CAME TO KNOW ABOUT RERA RULES BEING FOLLOWED BY THE DEVELOPER. WE ALSO CAME TO KNOW FOR BETTER TRANSPERENCY RERA IS IMPORTANT AT PROJECT PROMOTION.