Benefits Of Choosing RERA-Approved Projects In Pune
Buying a home is a big decision. However, buyers today face several challenges. This is where RERA comes in. Established in 2016, the Real Estate Regulatory Authority is an act that aims to protect the interests of homebuyers. This means choosing RERA-approved projects in Pune can secure your savings. Furthermore, there are endless benefits.
Why Choose RERA-Approved Projects in Pune?
Here are some major reasons why you must choose RERA-Approved projects in Pune:
Enhanced Quality
One major benefit of choosing RERA-approved projects is that they promise the highest construction quality. Projects under RERA mean builders must meet the required construction standards. From the materials to the technology used, developers should be transparent about the entire process. After five years of ownership, buyers are free to report any structural flaws, as developers are required to address these concerns.
Legal Protection
Using RERA’s adjudication procedures, homebuyers can settle their disputes without engaging in drawn-out and costly court battles. Simply put, RERA-approved projects guarantee the protection of homebuyers’ rights. Furthermore, in case of any disputes, buyers can rest assured it will be resolved swiftly.
Carpet Area
Under the RERA Act, developers must follow a standardized method to calculate the carpet area. This, as a result, eliminates the possibility of inconsistencies. It also promotes confidence among buyers as they know exactly what they are getting in their purchase. Simply put, customers are more assured about their purchases and reasonable prices.
Complete Transparency
Another benefit of RERA-approved projects in Pune is unparalleled transparency. It gives buyers access to all information helping them make well-informed decisions. This includes everything from financial data, project status, construction timelines, building approvals, and more. This also promotes a culture of accountability and moral behaviour in the real estate sector.
No Delays
In Indian real estate, delayed projects have been a problem for a long time. Choosing RERA-Approved buildings means not worrying about delays. You can rest assured your projects will be completed timely as builders must state the possession date of the project. In case any builder is unable to fulfil the completion target, he must provide the allottees with sufficient compensation. As a result, Pune RERA-approved projects guarantee buyers that their property will be delivered on schedule.
Structural Defect Liability
Under the RERA Act, developers are held accountable for any structural defects in the project. This is a major benefit as it could endanger owners or tenants or result in health or financial issues. It keeps customers from incurring extra expenses by keeping an eye on projects for a set period after they are finished. Overall, this act guarantees buyers that developers will cover any damages that may occur.
Fair Advertising
Another benefit of RERA-approved projects in Pune is that they start with an emphasis on consumer protection. It aims to protect home buyers from fraudulent activities like misleading promises or false advertising. The authority requires developers to register their projects to ensure homebuyers’ safety. It also means that developers will only promote projects that are RERA-registered and are legally compliant.
Financial Security
According to RERA, 70% of the money raised for a project has to go into an escrow account. This amount should only be used for that project. This ensures buyers’ financial security, as it keeps money from being diverted. Additionally, it also safeguards the investments made by buyers. It also offers transparency in real estate transactions by making project information available to buyers.
Higher Resale Value
Another benefit of choosing RERA-approved projects in Pune is that you can expect higher resale value. These projects follow quality standards and prompt possession, ensuring better rentals and a higher resale value. Besides, RERA makes buyers feel confident about their purchase, which, as a result, means there will be a greater demand for your house in the future.
Hassle-free Home Buying Process
Nirman Developers is the leading real estate company. All projects are registered under RERA which reflects our commitment to quality and timely completion of projects. We make sure every legal formality is met and prioritize our customer satisfaction above all. To learn more, you can contact our customer support team today.
