What is RERA Approved Plots?

Long ago, the certifications and registrations like RERA, and HMDA, were not at all in existence. There were many discrepancies in the property dealings back then. Some people conned the prospective property buyers, due to the lack of stringent laws. But now things have changed in the real estate business as more laws have come into existence that safeguards the interest of the buyers or investors.   Before you decide to purchase a property, make sure that the builder whom you are buying it is registered under RERA. The RERA website in your state will provide information on how to check the RERA number. RERA makes it mandatory that developers follow these guidelines. Developers must also sell properties according to the RERA norms.

In 2016, the Indian Parliament passed the Real Estate Regulation and Development Act. The rules under the RERA Act vary from one state. The following information will help you understand what a RERA certificate is and how it can benefit homebuyers and people who are looking forward to investing in open plots.

Long ago, the certifications and registrations like RERA, and HMDA, were not at all in existence. There were many discrepancies in the property dealings back then. Some people conned the prospective property buyers, due to the lack of stringent laws. But now things have changed in the real estate business as more laws have come into existence that safeguards the interest of the buyers or investors.   Before you decide to purchase a property, make sure that the builder whom you are buying it is registered under RERA. The RERA website in your state will provide information on how to check the RERA number. RERA makes it mandatory that developers follow these guidelines. Developers must also sell properties according to the RERA norms.

 

In 2016, the Indian Parliament passed the Real Estate Regulation and Development Act. The rules under the RERA Act vary from one state. The following information will help you understand what a RERA certificate is and how it can benefit homebuyers and people who are looking forward to investing in open plots.

What is RERA?

There was no standard practice for developers & builders for a long time. This led to fraud, manipulation, and other malpractices. RERA was established to protect the interests of home buyers and to help them to invest in real estate by providing the security of registration thus protecting them from fraudsters.

What is a RERA Certificate?

RERA certificates are legal documents that prove that property, project, or agent has been registered with a state-level RERA authority. The Real Estate Regulation and Development Act mandates the registration of property agents and projects to get a unique registration number.

 

The certificate contains information about the agent, developer, and property. It also includes the registration number. They can legally practice lawfully with the registration number. A certificate is required for a developer, prompter, builder, or agent to advertise or sell properties.  In the absence of this, no person is allowed to buy or sell the plots or properties. if acted so, that will be considered unlawful and will be considered as a punishable offense.

RERA certificate has many advantages
    1. Developers and builders must adhere to the regulations.
    2. Implementing a pan India standard model
    3. Fraud and malpractice are less likely
    4. This creates a sense for both the investor and the builder of responsibility
    5. Increase the reliability of the real-estate sector.
    6. Buyers have the right to protect their rights
    7. Find out more about the property and other details.
    8. Access to the RERA complaint tribunal for the allottee

The Real Estate (Regulation and Development) Act, 2016 has been enacted by the Government of India. Some sections of the Act were enforced from 1st May 2016 and all the sections of the act came into force on 1st May 2017. As per the act, all states must appoint a Real Estate Regulatory Authority to ensure that the purposes of the Act are carried out.

The purpose of the act is:

 

  1. To establish regulation and promotion of the real estate sector
  2. To ensure transparency & efficiency in selling Real Estate
  3. To protect the interest of consumers and establish an adjudicating mechanism for speedy dispute redressal in the Real Estate sector
  4. To publish and maintain a website with records of registered real estate projects and agents for public viewing.

To establish Appellate Tribunal to hear appeals from the decisions, directions, or orders of the Real Estate Regulatory Authority

RERA Objectives

 

RERA was founded with a few key goals in mind.

Below are the objectives:

    1. To improve compliance and decrease fraud by builders
    2. To create grievance resolution mechanisms
    3. To reduce handover delays
    4. To ensure consumers’ interests are protected by transparency and accountability
    5. To ensure smooth operations
    6. To establish the Appellate Tribunal for hearing appeals against RERA’s orders, decisions, or directions.
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RERA registrations can be done on a different website in each state.

Procedure For registration

 

    1. Submit your application
    2. Check the status of the application
    3. Check the number of rejection of applications
    4. Applications that are under consideration
    5. Applications under query
    6. Third party transfer of applications
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You must know the name and project number to search for information about the project. You will need to enter the name of the project and other details such as the locality, type of project, status, expected completion date, RERA Registration number, and project type. These details can be found on the RERA website for your state. Although the rules may change slightly, the fundamental intent and structure of the project remain unchanged.

Bookmyplot Ventures offers open plots that have been HMDA, DTCT APPROVED & RERA CERTIFIED. These plots can be further developed to create gated communities or villas. These developments will offer world-class amenities and services, as well as infrastructure. Many plots are available in the peaceful areas of Sangareddy and Sadasivapet.

Bookmyplot Ventures offers you an opportunity to purchase open plots on the outskirts of Hyderabad. These plots will soon be transformed into a new township that is far from the hustle and bustle of the city. Sadasivapet, located in the lush greenery of Sangareddy is near many IT hubs, numerous industries, and prestigious educational institutions. Bookmyplot Ventures, located near the city and close to ORR that connects with other major cities, has a variety of prestigious projects at an affordable cost.

 

It was never easy to invest in an open plot or buy a villa plot on your own, but with Book My Plot Ventures you can buy your dream plot just over a cup of coffee.

Incredible Investments at a Low Price

We have pioneered the creation of gated communities and villas as well as open plots. We can turn landscapes into beautiful homes. We offer a full service, from the moment you buy a plot for the lowest price until the time you get the keys to your new home. We can help you find the perfect home, no matter if you’re looking to buy a piece of land or simply for a quick search.

You’ve found the right place to search for an open plot – Bookmyplot Ventures

Your desire to own your dream independent home is just a call away!! We are here to help you.

 

Contact us at –

[email protected] / [email protected]