5 Amazing Facts of RERA Management System

Customer engagement platform for Real estate is very essential. Now a days, clients look for information on Social media and the real estate portals.
  1. Investment security: The investors hard earned money is secure. 70% of the amount is kept in the bank. There will be a separate RERA account for each of them. According to RERA act, the money will be used only for construction activities only. The new RERA management system has made the developer to complete the project in time. They are unable to invest the amount in any other projects.  
  2. Penalties: The builders are charged heavy penalties. if they do not abide by the RERA management system laws. RERA act covers the residential projects and commercial properties as well. The investment is totally under monitoring by the RERA authorities. The buyer will have all the liberties to complain to the RERA management system authorities.
  3. Brokers are party to the RERA management system: The law applies to the brokers or the real estate agents as well. They have to register themselves as well. The agents can sell the property registered under the RERA act with the said project of the said builder. There is no iota of an instance of fraud.
  4. Transparency:The transparency advocated by the RERA is providing the much needed security to the buyer. RERA management system always provides the project security to the investor. The buyers will get information regularly about the development happening.
  5. Information sharing:The developers will need to share all the information to the RERA authorities. They will share the information with the buyers. The sales calculation will be based on the carpet area, not the super built up area. As per RERA act, if there is a delay in completion and handing over the project, then the builder has to pay fines along with the interest.