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What Is RERA in Real Estate? | Why RERA Is Required? | Real Estate Investment in Telugu | Kowshik
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The real Estate (Regulation and Development) Act of 2016 created RERA, or the Real Estate Regulatory Authority, to protect homebuyers and promote real estate investments. The Upper House approved the bill for this Parliament of India Act on March 10, 2016. (Rajya Sabha). The RERA Act became operative on May 1 and afterwards.
Every Indian state should establish a real estate regulatory authority to oversee, judge, and mediate any issues involving real estate projects in that state-creating a fast-track dispute resolution process. An appellate tribunal and specialised adjudicating personnel will be used to accomplish this. For the RERA to have jurisdiction over the projects, all real estate projects must be registered. Two-thirds of the allottees must agree in writing for a promoter to transfer or assign the majority of their rights and obligations in a real estate project to a third party.
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Meet Mr. Nandi Rameswara Rao, Founder, and CEO of Realtor Oxygen.Have worked with 200+ investors.
He trained thousands of agents in his career, and Now he is sharing some interesting topics through KZfaq Channel Realtor Oxygen.
Kindly Subscribe to his channel for interesting videos and updates
/ @realtoroxygen
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