The RERA is safeguard of intrested buyer and investor

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The real estate main focus of grey areas,earlier which is prevailing in real estate sector.It has been witnessed in recent past two decade that many such incident took place where property buyer has been duped or losing hard earned money. To stop this situation and to control supplier in property. As per RERA property transaction will have to be done on carpet area basis, which will surely safeguard the interest of buyer.

Recently  in past many such incident has been often become witnessed. When bank too at risk to funding certain project, thus bank is reluctant to finance of real estate project and developer has to opt other sources to manage finance at higher rate. Implementation of real estate act will restore faith both buyer and financier in to the market. This act is not only boost confidence but also make entire process of property buying smooth and hassle free and safeguard to interested property buyer and investor.

In case of any loss caused to buyer due to defective title of land or promoter fails to discharge any other obligation as per act or rule or regulation of agreement sale. Promoter has to compensation of allotee buyer. Thus developer has to complete project in stipulated time frame as per agreement of sale.

The RERA aim and goal is protect to buyer or in public interest and to gauge and tap of developer and agent, whenever is misleading people, the provision is made a agreement in between promoter and buyer.

Agent always play a crucial role in selling property as per act. All agent involve in selling newly under development project which come under ambit of RERA and have to registered with real estate regulation authority and provided with a registration number. Role and responsibility of agents have been define and any false or misleading representation will invite suspension.

As per provision in RERA, prior registration of real estate venture consisting more than 8 unit or plot exceeding 500 sq mt with real estate regularity authority act. How ever, if project is being develop in phase, every such phase will be consider as a real estate project and developer or builder has to obtain registration separately.

The compliance and detail to be furnish by developer to real estate regulatory authority are specific and it covers all parameters  with special provision of 70 percent of amount realized for real estate project from  investor –buyer from time to time shall be deposit in separate account to cover the cost of construction and land cost and shall be used for that purpose only. The amount will be withdraw from this account  is in proportion of presence completion of project on certificate provided by engineer, architect and charted account.

The aim of RERA is fix responcibility  of promoter and builderto safeguard the intrest of consumer property buyer. This is a welcome move, by and large, it will work in favour of buyers.

content resources author:- http://www.flatsbychoice.com

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A preferred choice of Lucknow city

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Lucknow is a capital city of fourth largest state of country. The city has witness as one of the fastest growing city of nation. With flourishing retail and commercial sector. This nawabi city has turned into a hottest destination for many.

In one side old Lucknow can be seen timeworn and cramped structure and other side few decade ago new Lucknow, has emerged with a planned and well structure growth. Day by day  also added many new infrastructure Like IT park, Lucknow metro, Indian institute of information technology Lucknow, new international cricket stadium, Golf city and many more industrial activity will added a strengthen in real estate map of Lucknow. While state government being committed to improve health sector, it is investing rs 1000 crore to being built super-specialty hospital that will usher also era new medical tourism in the city. The need of people is increasing for stylish and sophisticated living.

Lucknow is witnessing strong real estate activity, especially between Kanpur and faizabad road, that area come in lime light because of Shaheed path expressway, there are several developer launch their best project here.

For years, people struggled in the old Lucknow city and with an extended family it become more difficulty ,couple years back the people find out the chance upon this area to entire family gratified with the shift. The radial expansion of the city has made a way for growth on the real estate map. With well highway connecting to cities like sultanpur, faziabad, rae bareli, Kanpur among other. Huge demand also flow from these cities as resident wish to avail better amenities and opportunity that city offer.

Resources content:- http://www.flatsbychoice.com