MADURAI: Homebuyers often face challenges due to limited information during property purchases. However, with the implementation of the Real Estate (Regulation and Development) Act (RERA), they can now easily verify project details via the official website, according to Shiv Das Meena, chairman of the Tamil Nadu Real Estate Regulatory Authority (TNRERA).
During an awareness program held on Saturday, Meena introduced an explanatory manual on RERA regulations, emphasizing the Act’s role in promoting transparency, accountability, and credibility within the real estate sector. He noted that RERA has transformed the home-buying process in the state, establishing a secure and trustworthy investment atmosphere.
Meena highlighted that both homebuyers and developers share equal responsibilities under the Act. In the case of disputes, RERA provides a structured and expedient grievance redressal mechanism, enhancing accessibility and efficiency for citizens.
The session also addressed the procedures for registering building and plot sales, developer responsibilities to meet buyer assurances, and guidelines for extending project validity. Additionally, participants learned about advertising regulations and compliance requirements established by local planning authorities, alongside penalties for violations under the Act.
S. R. Muthivjayan, president of CREDAI Madurai, affirmed that the event served as a vital resource, improving understanding and promoting adherence to the regulatory framework.
More than 150 members from CREDAI Madurai, the Builders Association of India, and FAIRA participated in the session.
This rewrite maintains the essential information while enhancing clarity and readability.
