[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
Jaipur: Prospective home buyers can soon track the progress of real estate projects online
as all developers and builders registered under the Real Estate Regulatory Authority (RERA),
Rajasthan, will soon have to upload quarterly progress report of their projects on the RERA
The move to upload reports online will help buyers to assess the properties, the progress
of the projects, evaluation of the company’s financial status and legal aspects.
After the enactment and implementation of the Real Estate (Regulation and Development)
Act, 2016, a total of 1,375 projects have been registered under RERA across the state. RERA
registrar Ramesh Chandra Sharma said, “For consumer protection, the regulatory body
making quarterly reports online will ensure transparency in the system. The prospective
buyer can take take a comparative decision on buying a property after analysing quarterly
report of projects.”
As per the mandatory provision, the promoter has to upload updates on the RERA website
for the project at the end of each quarter on apartments/flats, status update of each building,
floor, internal infrastructure and common areas construction. Other details including
information on approvals, bank account details, revision in plans, licence issues, permits or
approvals for the projects also have to be displayed in public forum.
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Have a nice day