Search for property and put your offer price

RERA Website Points Explained

01 Jan 2020

Going through the State Real Estate Regulatory Authority's website? So, you must be searching for the details of developer id, project id, project configuration, location and other information. You might miss there are certain details that, can in fact, which will help you to make informed decisions. These are the topmost points to that you should be looking for regularly.

Litigation Report

'Litigation Details' of the concerned project has included a column stating through Maharashtra RERA. Likewise Copy of legality is there, details such as encumbrances, a copy of layout that is approved, pro forma of the allotment letter and agreement for sale, a declaration in Form-B, commencement certificates and building approval plan amongst others.

Possession Time?

Disagreement takes place because of project delays. Just to inform you that the projects which are delayed is now under valid time and it will notify the status too. Regulatory body had taken a step that everyone within the industry by surprise, accordingly, to be fair, and even developers have been asked to provide or update the status of date of completion for their ongoing constructions. Thus, when you had purchased the property and original date of completion provided to you may not be honoured now. Though, the revised dates must be honoured and any breaching would be strictly penalised at an interest rate which is decided by the state regulatory body. As a result, your money is safe.

Though, due to delay in timelines has been a cause of concern for many of homebuyers.

Are all the towers/floors sanctioned?

Previously, many issues were faced for sanctions and approvals. Investment which are made in unapproved / illegal constructions has always been a pain spot. In dire cases, authorities can also decide to defer the project altogether. Thus, before investment seek all pending approvals.

Verification of Agent

After RERA, Roles of agents has extracted more importance. There should be someone trustworthy who would lead/guide you in a right way that is much more important and plenty of information is available too. With the help of RERA, disorganised agents are pushed out of the sector. If you want to verify your agent so you need to ask your agent for RERA Registration ID and then you can verify on state RERA's website, or if you want to check the list of dealings that is successfully closed by your agent in last few years their office and branch addresses and the people who are associated with the agent company will be easily seen.

Today RERA number is most important while listing builder projects on any real-estate website.

3BRICK.com [real-estate website and android app, where end user can search for property and submit their own offer price against the builders quote] has only projects listed which are RERA approved.