{"id":1497,"date":"2017-09-20T12:57:00","date_gmt":"2017-09-20T12:57:00","guid":{"rendered":"http:\/\/www.trimurty.com\/blog\/?p=1497"},"modified":"2025-03-29T07:04:17","modified_gmt":"2025-03-29T07:04:17","slug":"rera-bliss-buyers-ban-unscrupulous-developers","status":"publish","type":"post","link":"https:\/\/www.trimurty.com\/blog\/rera-bliss-buyers-ban-unscrupulous-developers\/","title":{"rendered":"RERA: A Blessing for Buyers &amp; a Ban for Unscrupulous Developers"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The enthusiasm to shift into a new house sometimes cools down with the discovery of certain construction defects in your new home. However, it\u2019s a rare-to-zero occurrence phenomenon with Trimurty projects.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Until the advent of <\/span><b>RERA<\/b><span style=\"font-weight: 400;\"> (<\/span><a href=\"https:\/\/www.icsi.edu\/media\/portals\/86\/bare%20acts\/THE%20REAL%20ESTATE%20(REGULATION%20AND%20DEVELOPMENT)%20ACT,%202016.pdf\"><span style=\"font-weight: 400;\">Real Estate Regulation and Development Act, 2016),<\/span><\/a><span style=\"font-weight: 400;\"> came into the picture, there was no way forward for such home buyers to convince unscrupulous developers to fix the defects.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most of them would have to get the job done on their own, even as they felt betrayed by the developer. In a nutshell, all this points out to the trust deficit between the home buyer and the developer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But now, the new legislation aims to bridge this gap and find buyers a concrete solution.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Introducing the RERA \u2013 Real Estate Regulation and Development Act<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Let us now understand what <\/span><a href=\"https:\/\/www.trimurty.com\/blog\/rajasthan-real-estate-reras-role-for-buyers-and-investors\/\"><b>RERA<\/b><\/a><span style=\"font-weight: 400;\"> brings to the table \u2013<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">According to the Real Estate Act, a developer will be liable to fix any defects that may be brought to his notice by a home buyer until five years after the possession is granted. The developer can not charge any amount for it.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The developer will have to fix the problem within 30 days. In case the developer fails to comply, a home buyer will be eligible to get a compensation under the Act. Earlier, in their sale agreements, many developers used to keep the period for fixing defects to as low as two years.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Obviously, home buyers are celebrating this provision. As developers are concerned, the fair players in the game like us are all praising the change.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mr. Anand Mishra, Director of Trimurty Builders, believes the move is expected to weed out non-serious players from the market. The misdeeds of a few earlier brought a bad name to the entire fraternity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further, he believes that <\/span><b>RERA<\/b><span style=\"font-weight: 400;\"> would encourage other developers to maintain the quality of their constructions at the initial stage. A five-year period is a long time, and frequent complaints by buyers would cost developers not only money but also their brand image, he adds.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Final Words<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>RERA<\/b><span style=\"font-weight: 400;\"> clause may go a long way in improving the health of the sector and pushing real estate towards a growth path by creating an amicable environment, where home buyers would not have to worry about the walls of their recently bought houses falling apart.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Frequently Asked Questions<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">1. What is <\/span><b>RERA<\/b><span style=\"font-weight: 400;\">, and how does it benefit home buyers?<\/span><\/h3>\n<p><b>RERA<\/b><span style=\"font-weight: 400;\"> is a real estate law\/act that ensures transparency for home buyers by holding developers accountable for quality and timely delivery.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. What if a developer doesn\u2019t fix defects on time?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If defects aren\u2019t fixed within 30 days, buyers can claim compensation under <\/span><b>RERA<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. How does <\/span><b>RERA<\/b><span style=\"font-weight: 400;\"> affect developers?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">RERA helps in building trust in responsible developers by enforcing strict regulations and penalties.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The enthusiasm to shift into a new house sometimes cools down with the discovery of certain construction defects&hellip;","protected":false},"author":1,"featured_media":1190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1497","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-property-investment","8":"cs-entry","9":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RERA: Protecting the Interest of Home Buyers &amp; 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