RERA has passed 5 orders to safeguard homebuyers. The Real Estate Regulatory Authority has issued orders for the safety of buyers in Noida against any mis-selling. According to the new orders and the rules, developers can sell the project units on the basis of the carpet area only. As of now, builders were selling units of the projects based on the super area which also included the common area used by everyone in the project. However, buyers are also paying maintenance for the common and super area but the registry cost also gets affected because of the super area. And this will not be the case now. Additionally, the developer will register the name of the project as it is mentioned on the sanctioned map. A Big Update from RERA for the Buyers in Noida
The step has been taken by the RERA to protect the interest of homebuyers. RERA has taken several steps over the past few years for the protection of the interest of home buyers while investing in housing projects. Another addition in these orders is that co-allottees’ names will also be included in the complaints done by the homebuyers.
A Big Update from RERA for the Buyers in Noida
Another revolutionary development in the real estate sector is that the RERA has directed real estate developers to print the project registration certification in the form of a QR Code on everywhere they market the project. It is necessary that real estate developers should present the QR Code at prominent places such as the marketing office, sales office, and the project site.
This step is taken to ensure the visibility of the registration of the project and that buyers get to know about the registration and other project related details. Placing the QR Code at the prominent places will increase its visibility to the prospective buyers and the onlookers from a distance.
A Big Update from RERA for the Buyers in Noida
Reports have suggested that these orders are aligned with the previous MahaRERA orders which have been enforced since August 2023. With these rules and orders, RERA is going to strengthen its position, build trust and gain confidence among home buyers by preserving their rights in the real estate sector in Noida.
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