Delay in the delivery of project, bad quality of construction and unfair rates etc., were the reasons why people started neglecting any investment in the real estate sector. The builders used to fool the buyers and looted unfair amount of money. But, this was the past that is by-gone now. At present, there are no such situations in existence, atleast with the housing projects that are registered under RERA. Before, we go any further; here is a brief description of this real estate law.
Real Estate (Regulation & Development) Act – A Sneak Peek
Introduced by the Indian National Congress, this act centers at boosting investments in real estate industry and protecting the rights of the home buyers. As mentioned above, it deals with major issues like, unauthorized increase in FAR, project delays, price, bad construction quality and some other changes.
Here are some of its provisions –
· Every real estate builder offering low cost housing flats in Ghaziabad will have to keep the buyers informed about their current as well as upcoming projects.
· Maintaining an escrow account is important for every project launched by a real estate company.
· All the projects and real estate agents will have to be registered under RERA by the state regulator.
· Protection to buyers will be ensured from regulator’s end, right of the possession date of any of the flats in Ghaziabad.
By now, you might have understood that any real estate project registered under this act is genuine and that you will be charged with a fair price of the flat along with all facilities as mentioned at the time of booking. Till date, a number of builders have registered their projects under this act and one of such projects is LandCraft MetroHomes.
This project has been registered under RERA as well as it is a part of the Awas Yojna of the UP government. Both RERA and Awas Yojna together make this project as one of the most trusted and genuine housing projects that aim at providing affordable flats in Ghaziabad with lavish facilities and amenities. Studies say that a buyer purchasing flats in LMH is generally accustomed to the following benefits –
So, if you are searching for affordable 3 or 2 BHK flats in Ghaziabad, this place is the ideal one, in terms of affordability, genuineness and facilities offered.