Over the recent years, the real estate sector has grown and expanded across the country. Though, there are different laws available for sector, it has largely been unregulated from the perspective of consumer protection. For this, the Government of India enacted the Real Estate (Regulation and Development) Act 2016 – RERA.
RERA come into force with effect on the 1st of May, 2017. RERA makes it compulsory for all the builders, who want to build a residential or commercial property that is more than 500 sq.mt or the number of proposed apartments is more than eight, to register with the regulatory authority. The main purpose of RERA is to reduce project delays and property funds. For this, RERA has made it mandatory for all the builders to register with it before starting any project. This has made RERA-approved projects authentic and more trustworthy for the property buyers and customer.
RERA provides many benefits to the home buyers by giving them access to detailed information about the builder’s project, which increases transparency and satisfaction. RERA also provides fair compensation for project delays and it has fair pricing and refund policy in it.
Bihar is growing in the field of real estate and currently, there are many RERA-approved builders in Patna. The Mundeshwari Group is one of the top builders in Patna who provides you with RERA-approved projects. The Group’s ongoing projects – Orbit Mall, The Heritage and Crystal – known for quality, trust and customers satisfaction are RERA approved. These projects bring ultimate retail and commercial space revolution and elite living style with world-class amenities.
The top real estate company, Mundeshwari Group, a RERA-approved builder in Patna, has various milestone projects like Mundeshwari Sapphire, Terrace Garden, Toshani Towers, that has been land marks across the city. The Group’s projects are the best options to invest your money in property. Under the registration of RERA, the company provides you world-class, best-in-the-class, eco-friendly projects and constructions within budget estimates and perfect locations.
The RERA act effectively addresses issues like project pricing, project delivery delays, quality of constructionin an efficient and transparent mannerIts are not limited to just homebuyers, but it also helps the builders, real estate developers and agents in a number of ways. RERA contributes towards making the real state sector more trustworthy, professional and secure for investors as well as builders.
