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What are the RERA norms

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0 2022-11-15T17:57:36+00:00
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The following are the RERA norms I am aware of:

1) The promoters are required to make up for any losses they may have caused to the buyer while the buyer was building or after it was completed.

2) A person may submit a complaint with RERA if they are bothered by a promoter or a broker who is in violation of any of the guidelines of this Act.

3) All real estate developments should be registered with RERA in order for the authority to have control over the projects.

4) The body may refuse to register a specific project if rules have not been followed.

5) Both the buyer and the marketer will be required to pay the same interest rate in the event of any sort of failure on either party's part.

Get help from experts at NoBroker to understand RERA norms easily. Read More: How to verify RERA number? What are the RERA rules for refunding of booking amount?

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