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The Indian real estate market was unregulated before the RERA Act with unregulated projects, unreasonable delays, poor quality of construction, hidden financial charges and lack of commitment towards the buyers. The arrival of RERA on May 1, 2017, has revolutionized the industry by providing transparency to buyers, and putting in place financial discipline, efficiency and accountability in the sector. Out of the innumerable builders, Dosti West County which is located in Thane West, Mumbai has come out to be one of the most preferred and trustworthy partners.
There are certain ways how RERA has helped buyers in making better investments:
Enforcing timely delivery of projects
If the builder fails to give possession to the buyer on the date promised in the agreement, the buyer has the right to withdraw the complete amount with interest from the seller. The maximum time for this refund is 45 days beyond which legal action can be taken on the builder for false information and wrongful commitment to the consumer.
Ability to verify seller's track record
Buyers prefer reputed builders who comply with RERA norms and have a good record with verified documentation history along with payment transparencies. One such example is the Dosti West County which houses thousands of families within its apartments and has been proven to be one of the most reliable properties in Thane, Mumbai.
Check the RERA registration number
Fraudulent builders who follow illicit documentation processes and inundate consumers with false data and agreements are now at a greater risk of being exposed. With the new RERA Act, every builder/seller has to register their projects under RERA with the respective state regulatory authority and get the particular allotted registration number for their project. Without this unique number, the builder cannot sell the property.
Transparent advertising and marketing collaterals
When it comes to hoardings and ads in the newspapers, builders often exaggerate their services which lead to dissatisfaction among consumers. Dosti West County provides transparent marketing information to its potential customers. They have 2BHK and 3BHK apartments that are exactly as advertised.
Fixed booking amount
Developers can only take 10% of the total cost of the property as the booking amount. Those who are under the RERA Act understand how severe a breach of this clause could be and refrain from going any higher than 10%. In fact, Dosti West County has a particular department that deals with financial information and a buyer can simply check up all the payment related queries there without any confusions.
With the RERA Act enforcing on sellers and developers, trust is beginning to grow in the industry, once again. For someone who is searching for a property in Thane, Dosti West County is highly recommended, given its previous work and credential validations.
Get in-person assistance in finding the right home, and the documentation process, Bajaj Housing Finance Limited provides home loans which help you do it all.
Article Posted By : prafullamishra On January 28, 2019lView All Articles
Prafulla Mishra is an experienced real estate advisor who is well known for his ability to foretell the market trends as well as for his real estate astuteness. Prafulla has also amassed a great name for himself as a blogger.
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Keywords : Indian real estate