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Are under-construction properties a good bet post RERA implementation?

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Are under-construction properties a good bet post RERA implementation?

Last updated: July 23 2019
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  • Are under-construction properties a good bet post RERA implementation?

    The implementation of the RERA has encourage buyers to take well informed decisions with the assurance that they wont be taken for a ride anymore. Has it done enough to boost confidence in buyers to buy under-construction properties?
  • #2

    #2

    Re : Are under-construction properties a good bet post RERA implementation?

    The Real Estate (Regulation and Development) Act (RERA), has ensured that the buyers don't get cheated like before. Regulators are ensuring that projects get delivered on time and as advertised (size and amenities).
    Talk TRUE; Talk IREF

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    • #3

      #3

      Re : Are under-construction properties a good bet post RERA implementation?

      Yes, after the implementation of RERA, investment in under-construction properties has become safer. Apart from timely delivery, the authority will also ensure the developer delivers what he has promised in terms of the actual property size, amenities, etc. and also has all the necessary approvals in place.

      However, it is always best to do your prior research.

      Sometimes, due to RERA rules, for instance, one which specifies a project cannot be marketed or sold it is registered with the authority and the registration number is obtained' and 'a builder cannot collect money from customers unless all approvals have been obtained', this can affect the builder's projects due to lack of adquate capital.

      It is good to check the track record of builders and track the progress of the construction.

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      • #4

        #4

        Re : Are under-construction properties a good bet post RERA implementation?

        Good thansks to start this thread. It is useful for me

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        • #5

          #5

          Re : Are under-construction properties a good bet post RERA implementation?

          I do see completion dates being 'Revised' for some of the Projects . Is it possible for builders to use this as a leeway ?

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          • #6

            #6

            Re : Are under-construction properties a good bet post RERA implementation?

            Yes, I think RERA has been helpful in disciplining developers but all it has given them relief by conveniently revising the dates of their projects. So now they don't have to be held responsible for the old dates as they have new ones. Something like that I guess unless of course RERA has a cut off date for revision of old dates (I think there is one).

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            • #7

              #7

              Re : Are under-construction properties a good bet post RERA implementation?

              movedin the real effect of RERA will become clear when all these revised projects come close to the revised dates of completion.
              Talk TRUE; Talk IREF

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              • #8

                #8

                Re : Are under-construction properties a good bet post RERA implementation?

                Yes, it has to be seen how RERA deals with delays after revised dates of project completion.

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                • #9

                  #9

                  Re : Are under-construction properties a good bet post RERA implementation?

                  RERA has show a strong hold and there have been cases here and there where they have penalised builders for taking buyers for a ride. It will take time for sure but should be worth the wait.
                  Talk TRUE; Talk IREF

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                  • #10

                    #10

                    Re : Are under-construction properties a good bet post RERA implementation?

                    Well, RERA has showed some authority on defaulting developers recently and it seems like real estate, on a whole, can become a safe bet in the time that follows.

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