5 Issues RERA Must Address to Better Protect Home Buyers

RERA must address several key issues such as ensuring transparency in property transactions, providing recourse to buyers in case of dispute resolution, enabling access to reliable information about the property, and ensuring enforcement of the law. The regulatory body must also ensure that developers adhere to timely delivery of projects and, in the event of any delay, provide compensation to home buyers.

The Act has taken strides to address the most pressing issues of the past two years. However, there are still certain issues that need to be addressed in order to protect buyers and sellers from potential problems when it comes to property transactions.

1. Transparency in pricing: RERA must ensure that developers provide clear, transparent and uniform pricing for all projects. This will ensure that buyers have access to accurate information when making decisions about their home purchases. 

2. Timely delivery of projects: RERA must ensure that developers adhere to their delivery timelines and that buyers are not kept waiting for their homes. 

3. Quality of construction: RERA must also ensure that developers use quality materials and adhere to the standards set by the relevant authorities. This will ensure that buyers are not short-changed when it comes to the quality of their homes. 

4. Protection against fraudulent practices: RERA must protect buyers from unscrupulous developers who may use dubious means to extract money from buyers. 

5. Legal recourse: RERA must provide buyers with legal recourse if their rights are violated by developers. This will ensure that buyers have a recourse if their homes are not delivered as promised.