No matter how good your running income is, there is still a high possibility that you would be going for a home loan while buying a new property. While taking a loan, you should be aware of RERA as there are multiple benefits that a buyer can avail from it.
Whether you are buying a home in Provident Park Square or anywhere else in Bangalore, here is what you must know: -
-> RERA stands for Real Estate Regulatory Authority Act, which was implemented in May 2017 to prevent the buyers from getting cheated by the property developers and hear their grievances.
-> There is no transparency between the developers and the buyers of the property. The developer is now required to update the buyer with the progress made in the construction. All the projects have to be registered before they are started so that there are minimum chances of fraud. Provident Park Square is known for its timely registration and for following all the guidelines laid down by RERA.
-> With an increase in transparency, the demand for the property has significantly gone high, which has made the prices go down considerably. Therefore, it is not a big task to own a home now.
-> RERA strictly ensures that no fake promotions or false promises are made to attract a large number of buyers. Only those facilities can be highlighted that can be delivered as per the plan and availability of funds.
