Understanding RERA
The Real Estate (Regulation and Development) Act, or RERA, was introduced in 2016 to protect homebuyers and to ensure the sale of properties in an efficient and transparent manner. At Majestique Landmarks, we understand the significance of RERA and advocate for its necessity in the home buying process.
Transparency and Accountability
RERA mandates that developers register their projects, providing detailed project plans, approvals, timelines, and progress reports. This means that as a buyer, you’re entitled to full disclosure. At Majestique Landmarks, we champion transparency. Our compliance with RERA is not just about adhering to the laws; it’s about earning the trust of our customers.
Protection Against Delays
Project delays have historically been a significant pain point for homebuyers. RERA addresses this by ensuring developers set realistic timelines and adhere to them. At Majestique Landmarks, we respect the value of your time and investment, aligning our project delivery commitments with RERA’s stringent regulations.
Quality Assurance
RERA has strict guidelines for structural integrity and mandates a 5-year warranty on the construction. We at Majestique Landmarks prioritize quality and craftsmanship in every home we build, further solidified by RERA’s quality assurance.
Financial Discipline
The Act requires developers to transfer 70% of the project funds into a separate escrow account to prevent fund diversion. Majestique Landmarks not only complies with this but believes it reinforces our commitment to financial integrity and project completion.
Dispute Resolution
RERA establishes a mechanism for the speedy redressal of disputes. We, at Majestique Landmarks, support this as it provides a clear and fair platform for resolving any issues, ensuring peace of mind for our customers.
An Informed Decision
RERA empowers you with information and assurance, enabling an informed purchase decision. As a forward-thinking developer, Majestique Landmarks appreciates the value of an informed buyer and the stability that RERA brings to the real estate market.
For us at Majestique Landmarks, RERA is not just a regulatory framework; it’s a testament to our commitment to delivering excellence with integrity. We understand that a home is not just a financial transaction; it’s a personal dream, and RERA helps us make that dream a reality in the most reliable way.
