Why It’s The Best Time To Buy Property Post RERA?admin
Why It’s The Best Time To Buy Property Post RERA?
Slowdown in the real estate market in the past couple of years combined with some fly-by-night builders had made the potential investors and buyers wary of investing in real estate. However, the implementation of RERA (Real Estate Regulatory Act), has changed the entire narrative for the real estate sector.
Those, who wanted to buy, but were putting off their plan, this is the right time to jump in and buy your dream property. The reasons for the same are:
- Increased Transparency: No matter what state you’re in, RERA will ensure that only those builders will get to operate, who have transparent operations. Buyers can’t be taken for a ride as there are strict regulations under RERA and every developer will have to furnish information regarding their operations before they take any advance from buyers
- Efficiency: The act has put down strict penalties for not delivering projects on time and for that purpose builders have to put a pre-decided advance amount in a separate account so that construction of a project isn’t affected at all.
- Price Rise: Implementation of RERA might lead to increase in the prices of the projects, but that may happen few months down the line. Hence, one can buy a property today at attractive prices.
- Genuine Projects: Only serious players will remain in the market and there’ll be guarantee of only reliable and good quality projects hitting the market.
If you’re sitting on the fence, just waiting for the right timing to invest, now is your chance to grab the moment!