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Protecting the interests of Homebuyers in India has become very significant thanks to RERA. The deal in Real Estate must be efficient and transparent to protect the interests of consumers. As real estate sector plays a catalytic role in fulfilling the needs and demand for housing and infrastructure in the country and is an important pillar of the economy.
The lack of standardization has been a constraint to the healthy and orderly growth of industry these days and therefore, Parliament enacted the Real Estate (Regulation and Development) Act, 2016 which aims at protecting the rights and interests of consumers and promotion of
Uniformity and standardization of business practices and transactions in the real estate sector. This RERA Act attempts to balance the interests of consumers and promoters by imposing certain responsibilities on both.
It seeks to establish symmetry of information between the promoter and purchaser, transparency of contractual conditions, set minimum standards of accountability, and a fast-track dispute resolution mechanism.
Professional RERA lawyers of Aurum legal are meticulous in resolving real estate disputes and protecting the rights of home buyers. RGAA protect the interest of consumers and with a clear intention of protecting the interests of buyers and helps the consumers to safeguard themselves from any foul play or exploitation by promoters.