How RERA Has Transformed Pune's Real Estate Market
The Real Estate (Regulation and Development) Act, 2016 which is commonly known as RERA, this act was introduced to bring transparency, accountability, and fairness to the Indian real estate market. Many buyers used to face issues like project delays, hidden costs, and incomplete information before RERA. Pune is one of the fastest-growing cities in India, and it is witnessing rapid real estate growth and it also has its share of challenges. What is RERA? RERA was introduced by the Indian government to protect the rights of homebuyers and to regulate the real estate sector. It ensures that developers and builders follow a standardized process for project registration, timely completion, and the delivery of promised amenities. Pune, being one of the key real estate hubs in Maharashtra, has benefited immensely from RERA. The most important feature of this act is that it makes it compulsory for all real estate projects (above a certain size) to be registered with the Mahar...