Understanding RERA: A Comprehensive Guide for Homebuyers in Tamil Nadu

RERA, established in 2016, aims to protect homebuyers and encourage real estate investments.

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RERA ensures transparency by requiring all projects to be registered before marketing or selling.

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Key Provisions of RERA: Carpet area is defined as net usable floor area.

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Developers must charge buyers based on carpet area, not super built-up area.

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All projects must be registered, providing detailed information like layout plans and timelines.

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Real estate agents must also register under RERA, ensuring ethical practices.

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RERA mandates timely project delivery; developers must compensate for delays.

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Despite RERA, builders still charge based on super built-up area, including common areas.

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RERA promotes transparency, requiring clear communication of carpet area to buyers.

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