Rakesh Reddy, Director, Aparna Constructions, For 99acres
There have been a few revisions in the government policies regarding housing projects that monitor the safety of buyers. These revisions include the implementation of the Real Estate (Regulation and Development) Act.
Our Director Mr Rakesh Reddy shares his views on RERA, which prevents builder-buyer conflicts, and the scale at which this act has authority. He discussed the following pointers about RERA:
All ongoing projects without Completion Certificate are to be registered with the respective State RERA within 3 months.
The registration is mandatory for projects larger than 500 sq m or comprising 8 apartments. Other developments do not require registration.
However, real estate projects, whether registered or not registered under the Act, are covered for land title defect liability and other provisions of the act.
Read more about his opinions on Gandipet’s demand for residential projects and RERA here
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