₦airaland Forum

When you’re investing in a new construction, you’re usually putting your money down without seeing the house or apartment in person. You’re paying for a vision and unfortunately, many people have been cheated and sold homes with a smaller carpet size, etc. Not everyone understands the difference between carpet area and built up area or super built up area and this was something many developers took advantage of. One of the most visible RERA effect on real estatehas been the result of legislating a need for all projects to be registered. Ant real estate project with more than 8 apartments or a development area exceeding 500 sq mts must be registered with all details such as carpet size, promoter details, land status, completion schedule, etc. As a result, there’s a much lower risk now of being cheated of your investment. If you pay for a 800 sq ft 2 BHK in a RERA approved project, the developer must hand over the same to you within the stipulated time.
https://timesproperty.com/news/post/what-is-the-rera-effect-on-real-estate-find-out-blid910