RERA’s Role in Eliminating Fraud in Mumbai's Real Estate Sector
The Real Estate Regulation Act, more commonly known as RERA, has become the umbrella phenomenon in the Mumbai real estate market, mainly against fraud. RERA registration in Mumbai has brought major changes to the city’s highly volatile property market, which is frequently touched with some form of anomaly and now comes with a level of safeguard for any homebuyer. Explaining RERA’s Structure RERA is a regulatory body in the real estate sector that protects people’s interests. The enactment of this act is supervised in Mumbai by the Maharashtra Real Estate Regulatory Authority (MahaRREA). Among the goals of RERA, one of the key ones is to fight against fraudulent activities, which has traditionally been a problem in the real estate sector. Through RERA registration in Mumbai , the act will compel developers to abide by standard delivery timelines, declare their financial profile, and improve consumer relations. Key Features of RERA Mandatory Registration: All real estate projects are re...