Real estate investment is one of the most sought-after investment options in India, and Bangalore has emerged as a prime location for real estate investments. The Real Estate (Regulation and Development) Act, 2016, popularly known as RERA, was enacted to regulate the real estate sector and protect the rights of homebuyers. Investing in RERA approved properties in Bangalore is a smart decision as it offers numerous benefits to the buyers. In this article, we will discuss the advantages of investing in RERA approved properties in Bangalore.
Why Investing in RERA Approved Properties in Bangalore is a Smart Decision
RERA approved properties in Bangalore provide a sense of security to the buyers as these properties are registered under the regulatory authority. RERA ensures that the real estate developers comply with the guidelines and regulations, including the timely delivery of the projects, which protects the interests of the homebuyers. Investing in RERA approved properties in Bangalore is a smart decision as it safeguards the buyers from fraudulent activities and ensures that the projects are completed within the stipulated timeframe. Moreover, RERA also mandates that the developers should deposit 70% of the project cost in a separate escrow account, which ensures that the funds are used only for the development of the project.
How RERA Approved Properties in Bangalore Ensure Transparency and Accountability
RERA approved properties in Bangalore ensure transparency and accountability in the real estate sector. The act mandates that the developers should disclose all the necessary information related to the project, including the land status, approvals, and timeline for completion. This ensures that the buyers are aware of the project details and can make an informed decision. Moreover, RERA also provides a platform for grievance redressal in case of any disputes between the buyers and developers, which ensures accountability on the developers’ part. Investing in RERA approved properties in Bangalore ensures that the buyers get a fair deal and the developers are accountable for their actions.
In conclusion, investing in RERA approved properties in Bangalore is a smart decision as it provides numerous benefits to the buyers. RERA ensures transparency and accountability in the real estate sector, ensuring that the buyers are protected from fraudulent activities. Moreover, RERA also safeguards the interests of the buyers by ensuring timely delivery of the projects and depositing funds in a separate escrow account. Therefore, investing in RERA approved properties in Bangalore is a wise decision for those who want to invest in the real estate sector.
