The RERA Act is the best reform happened for the homebuyers. If in any situation a dispute arises, the offences, procedure and penalty is being clearly stated.
Centrik has tracked and been with RERA since its 1st day of implementation. During these 2 years of journey, we have resolved more than 6700 assignment relating to RERA and Insolvency laws on different issues.
The act was introduced to curb the mal-practices and the abuses caused to the customer. The act intends to protect the interests of the consumers and regulate the real estate sector.
The RERA Act empowers the Regulatory authority to call for information or conduct investigations. These investigations have been mainly in the form of financial audit conducted by the auditors.
The Real Estate Regulation and Development Act (RERA) should have been enacted earlier to check the malpractices of builders, Prime Minister Narendra Modi said on Wednesday, following the Supreme Court’s stay on an NCLT order suspending real estate major Unitech directors and allowing the government to appoint its nominees in their place.