


- About Us
- OUR OFFERINGS
- CALCULATORS
- RESOURCE CENTRE
- Quick Links
- NEWS CORNER
-
INVESTOR RELATIONS
- Financial Reports
- Investor Presentations
- Annual Reports
- Notices
- ESG Profile
- IEPF
- Investor Call Transcript
- Corporate Announcement
- Public Issue of NCD'S
- Qualified Institutional Placement
- Investor Relations Contact
- Familiarisation Programmes
- ISO CERTIFICATIONS
- Forms for Shareholder KYC-PAN-Nomination update
- Credit Ratings
- Statutory Advertisements
- CONTACT US
- Login

Online

India's 1st Completely Online Home Loan!
-
e-APPLY
-
e-SANCTION
-
e-DISBURSE
Start your eHome Loans Process Now!
Apply OnlineRERA to boost demand for Affordable Housing

- Home Loans Guide ,Loan Against Property Guide
- Jul 06, 2017
- VIEWS: 4352
With housing loans being easily available, purchasing one’s own home has never been this easier. With home loan interest rates so low and easy EMIs, now just seems a perfect opportunity for interested home buyers. And the implementation of RERA act is a BONUS!
What is RERA?
The Real Estate Regulation and Development Act which first came into the formulation in 2016 was finally implemented from May 1, 2017. The RERA news has brought a change for both the sides in the real estate sector i.e. Buyers and Builders. The Act is expected to bring accountability and transparency in the real estate sector. It also seeks to bring a uniformity and a chain of fair practices that would protect the interest of buyers and take firm decisions like imposing penalties on builders in case of sub-standard quality of construction or inordinate project delays.
Moreover, RERA looks forward to addressing issues like price, the quality of construction and other changes that will protect home buyers from unethical players.
Let’s understand how will RERA impact home buyers?
Interested buyers who are in search of purchasing an ongoing project or a project that is yet to be finalised or registered are now ensured better protection under the implementation of RERA act. This is because of the terms of project supply as per the RERA bill.
Pricing is highly impacted and comparatively well managed due to RERA rules. The home buyer will now have to pay only for the carpet area, that is the area that falls within the walls and the builder cannot charge for the super built-up area, which at present is the practice.
As per RERA India, the builder has to transfer a minimum 70 percent of the money received from buyers to an escrow account. This RERA rule is bought to ensure that the builder does not spend the money on other projects since they can only withdraw money from this account after approval from engineers and chartered accountants they appoint. This simply means that the builder cannot use one’s money to build someone else’s house.
How will RERA affect builders and developers?
The thumb rule for builders and developers is that they cannot advertise or promote their project without mentioning a RERA registration number and RERA’s website address after three months. The builders have to provide a 5-year warranty for any defect in the building. He is responsible for any defect in the house.
These RERA rules for developers prove to be a boon for potential buyers. The developers need to provide necessary clearances before selling a project like financial statements, legal title deed with supporting documents, through which malpractices by buyers is expected to terminate. Given this, builders will not be able to take buyers for a ride.
The RERA Act 2017 is expected to boost demand in the real estate space and with factors like accountability and transparency assured; the homebuyers can now invest confidently.
For further security of buyers, RERA instructs that developers can’t ask more than 10 percent of the property’s cost at the time of advanced payment booking amount before actually signing a registered sale agreement.
With such positive changes for homebuyers, there is a scope that RERA act will boost demand for affordable housing. With RERA’s security for home-buyers, it’s just the ideal time for interested buyers to avail a home loan and get a house of their own!
Related Articles:
- Government gives major boost to housing and home loans in India
- Possession Norm Revision -A Boon for Borrowers
- What determines Stamp Duty Rates in Property Transaction Cases?
The post RERA to boost demand for Affordable Housing appeared first on Indiabulls home loans.

Top up home loan vs personal loan a comparison to determine the better choice for loans
Taking on a loan of any kind is a financial responsibility. It is a debt that needs to be repaid, in full, based on the tenure chosen by the borrower. Most banks, housing finance companies and non-banking finance companies offer a myriad of loans to finance the different needs of customers.
- Home Loans Guide
- Jul 23, 2019
- VIEWS: 8360

MCLR in Home Loan
The interest rate is one of the most important components of a loan, especially in the case of a high-value loan that lasts for 2 decades or more; the home loan.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6097

Types of Home Loan Charges
Most people fulfil their wish of becoming homeowners by taking out a home loan. It is the easiest way to afford a property as one can pay for the house in monthly instalments.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6958
No Comments
Subscribe
Most Viewed Blogs
Categories
- Home Loans Guide 125
- Home Renovation Loan Guide 3
- Home Loan Transfer Guide 14
- Home Extension Loans Guide 1
- Loan Against Property Guide 28
- Home Loan Interest Rates Guide 2
- Others Guide 8
- Home Decor & Lifestyle Guide 5
- Plot Loan Guide 3
- PMAY Guide 5
- Uncategorized Guide 1
- NRI Home Loans Guide 5
- Financial Resolutions Guide 1
- New Year Resolutions Guide 1
Archives
- Mar 2020
- Jan 2020
- Nov 2019
- Jul 2019
- Jun 2019
- May 2019
- Apr 2019
- Mar 2019
- Feb 2019
- Jan 2019
- Dec 2018
- Nov 2018
- Jul 2018
- Jun 2018
- May 2018
- Apr 2018
- Mar 2018
- Feb 2018
- Jan 2018
- Dec 2017
- Nov 2017
- Oct 2017
- Sep 2017
- Aug 2017
- Jul 2017
- Jun 2017
- May 2017
- Apr 2017
- Mar 2017
- Feb 2017
- Jan 2017
- Dec 2016
- Nov 2016
- Oct 2016
- Jun 2016
- Apr 2016
- Mar 2016
- Feb 2016
- Jan 2016
- Dec 2015
- Nov 2015
- Oct 2015
- Sep 2015
- Aug 2015
- Jul 2015
- Jun 2015