The government of India has endorsed the real estate (Regulation and Development) Act 2016 and all the sections of this Act have come into force with effect from 1 May 2017. Under this act, the Gujarat government has established Gujrat Real Estate (GujRERA) for the promotion and regulation of the real estate sector in Gujarat. This act aims at protecting the rights of home buyers and developers and maintaining transparency in the home buying process. This also helps in regulating the real estate sector of Gujarat in an efficient and effective manner. As per this act, there are various reforms in purchasing and selling homes and property that help in eliminating malpractices. Purchasing a RERA-approved property means choosing a vetted property. Are you also looking to buy a 4 BHK flat in Ahmedabad? Here are some things you must know about GujRERA while buying a house in Ahmedabad.
Pay For Carpet Area Only
One of the major aims of implementing this act is to reduce malpractice in Gujarat’s real estate market and protect the interests of home buyers as well. Earlier, the major pain point for home buyers was the discrepancy in the area for which the property must be charged. According to the new act, home buyers are now only charged for the carpet area of the property and not for the other built-up area. This act has offered significant relief to home buyers and made housing affordable for almost everyone with home loans.
How To Check Project Details In RERA?
You need to follow some steps to check the project details in RERA:
- Go to www.gujrera.gujarat.gov.in/.
- Search for the agent or builder you are looking for on the GujRERA
- You can also use the advanced option of GujRERA for RERA project status when looking for exact details of builders.
How to check the RERA registration number of a builder?
It is essential for homebuyers to know what exactly the RERA Act entails. The RERA Act has established separate laws and regulations for Indian states and union territories. RERA requires following specific rules that every builder must follow to maintain transparency and positive trust between builders and homebuyers. You must check for RERA approval before purchasing a property because the list of authorized projects and agents is regularly posted on the GujRERA website. Swati Procon projects are approved by GujRERA hence you can buy our 5 BHK flats in Ahmedabad without any hesitation.
Developers can’t ask for more than a 10% advance
It has been stipulated by the GujRERA Act that developers can’t ask for more than 10% advance of the property value at the time of signing the agreement of buying and selling deed. Furthermore, both parties are legally bound to register this agreement as per GujRERA regulation to maintain validity.
Buyers get a full refund in case of delay or deceit
As per the rules of RERA Gujarat, if the buyers fail to deliver the project on time, the buyers have the right to withdraw it and are eligible for a 100% refund. Furthermore, the builder would be bound to return the full refund with interest to the buyers. This interest is counted from the due date of the project delivery till the amount is refunded. Therefore, it is beneficial for home buyers to look at RERA approval so that they can ask for a refund when the project is not delivered on time.
All builders must be registered
It is compulsory for every builder and agent to have RERA registration as this discourages fraudulent activities of developers. Furthermore; if you are going to buy a house in Ahmedabad, then first check the location-wise listing on the map feature of the GujRERA website.
Swati Procon offers the finest properties in Ahmedabad in the poshest areas of Ahmedabad. All the projects of Swati Procon are RERA-approved. If you are planning to buy a luxurious 4/5 BHK flat in Ahmedabad, then you must contact Swati Procon. Many buyers are still unaware of the fact that it is essential to check whether the property they are going to buy is RERA approved or not. You can easily check it on the GujRERA website. Moreover; you can also check the progress of the project through the RERA website. Get in touch with us today to find out about our latest projects, Swati Senor and Swati Symphony. Both these projects are RERA approved and offer the finest amenities. We design environments that will genuinely thrill you. Swati Procon’s meticulously developed layouts guarantee that you are blessed with options. It’s time to think bigger! Book your desired 4 BHK apartments in Ahmedabad with all the facilities in a prominent location.