The Real Estate (Regulation and Development) Act (RERA) is expected to act as light at the end of the tunnel for homebuyers. Homebuyers who have been martyr in the realty sector can now take a deep breath as the focal point of RERA Act is to safeguard the interest of homebuyers. In the past, consumers have been sabotaged by builders or agents due to lack of communication and transparency in the work but not anymore.
In accordance with the RERA Act, no real estate developer or agent can sell or advertise their projects without getting registered under the State Authority i.e. Tamil Nadu Real Estate Regulatory Authority (TNRERA). This is a valuable step for homebuyers as the abstracts of the developers or agents will be showcased on the website which will help in identifying whether agent or developer is registered or not and accordingly can be deflected.
Also TNRERA has option for sufferers of realty sector. If any victim wants to file a complaint against any developer or agent, it can be done on TNRERA portal. On the portal the homebuyers need to register and fee for the same will be Rs. 100/- (One hundred only). The homebuyer can make the payment for registration process either through online transfer or through payment transfer in any Indian Bank. Once the payment is done homebuyer can download the grievance form and send the filled form along with scanned supporting documents to the TNRERA.
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws