What is the RERA (Real Estate Regulatory Act)?
The Real Estate (Regulation and Development) Act, 2016 (RERA) is an Act passed by the Indian Parliament. The RERA seeks to protect the interests of home buyers and also boost investments in the real estate sector. The Rajya Sabha passed the RERA bill on March 10, 2016, followed by the Lok Sabha on March 15, 2016 and it came into force from May 1, 2016. 59 of its 92 sections were notified on May 1, 2016 and the remaining provisions came into force from May 1, 2017. Under the Act, the central and state governments, are required to notify their own rules under the Act, six months, on the basis of the model rules framed under the central Act.
How will RERA impact home buyers
Some of the important compliances are:
• Informing allottees about any minor addition or alteration.
• Consent of 2/3rd allottees about any other addition or alteration.
• No launch or advertisement before registration with RERA
• Consent of 2/3rd allottees for transferring majority rights to 3rd party.
• Sharing information project plan, layout, government approvals, land title status, sub-contractors.
• Increased assertion on the timely completion of projects and delivery to the consumer.
• An increase in the quality of construction due to a defect liability period of five years.
• Formation of RWA within specified time or 3 months after majority of units have been sold.
• For More Info plz Log In up-rera.in
What is CREDAI?
The Confederation of Real Estate Developers' Association of India (CREDAI) is an association formed by developers and builders in India for self-regulating the business of real estate development. CREDAI has more than 8500 member developers and builders through 112 member associations with representation in all the major cities and states of the country
Why should I choose GoldenwaveInfratech.com?
We are serving this industry since 2001. With our vast experience in the same field, we have emerged as the solitary solution provider. With such an immense exposure in the said domain, we completely understand the needs of our consumers and strive hard to meet the same. Being substantial in the realm of Real estate, we have stridden a long way in a short span of time. With our resolution to raise high, we beat the all hurdles and stood against all odds. This marvellous achievement has been the upshot of the trust, which our clients have shown over the years
How can I book a property through Goldenwaveinfratech.com?
To buy a property through Goldenwave infratech .com you need to follow the following steps:
• Check out our website.
• Select the property that meets your criteria and drop an enquiry for the same.
• Go on a site visit of the selected property with our property experts.
• Close the deal- We handle all legal paperwork, arrange home loans (if needed) and manage all documentation work with the builder and the bank
How soon would I receive a call from you after placing my
You would receive a call back from us within 10-15 minutes of placing your enquiry with us, provided you have posted your requirements between 9am and 7 pm. Otherwise, we would be reaching you the next day
What is Stamp Duty ?And who is liable to pay the Stamp duty ?
Stamp Duty is a tax, similar to sales tax and income tax collected by the government, and must be paid in full and on time. A stamp duty paid instrument/document is considered a proper and legal instrument/document. The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary
When can I apply for a home loan?
Apply for a home loan once you have finalised the property to be purchased or constructed. Make sure you do the research about the type of loan you need and follow the checklist:-
• How much deposit do you have?
• What are the processing charges for the loan?
• What is the interest rate?
• What’s the best type of loan for you ?