What is Haryana Real Estate Regulatory Authority (HRERA)?
RERA stands for Real Estate Regulatory Authority. It was formed to bring transparency to the real estate sector.
The RERA Act was brought to eradicate the problems within the region. The aim is to reduce project delays and mis-selling. (What is RERA)
Currently, it is mandatory for all builders or developers to do RERA registration before starting a project.
Why RERA is important in real estate?
Indian real estate requires RERA to add confidence to the property sector of India. Because it is one of the major regions of India. And it needs transparency and authority to oversee its work strategy.
In fact, it is now serving as a spotless ground for buyers. and mitigating the risk faced by the buyers before initiating the act. (What is RERA)
This act is bringing clarity to property buyers and property developers. It is creating trust between sellers and buyers. In fact, it has established a state authority for government real estate and commercial transactions.
Now RERA is helping home buyers in the timely delivery of their property projects. This is a big relief for home buyers across India.