The buildings before RERA are as important as that after the implication of RERA act. According to Section 3(2)(b) of the Act, “Notwithstanding anything contained in sub-section (1), no registration of the real estate project shall be required where the promoter has received completion certificate for a real estate project prior to commencement of this Act.” This means that any project which already has an OC before 01/05/2017, RERA registration is not implemented. However, this doesn’t indicate that properties before 2017 are not valid or of lesser importance.
If the building has all the documents that are in accordance with the construction rules, then the project is as good as the ones with RERA registration. All you need to check if the property is registered and has all the documents related to it. For example, if a property was bought in 2015 and is in accordance with the government rules along with all the necessary documents, it will get the appropriate resale value regardless of the RERA registration status. (Only applicable for the properties which have received OC before 01/05/2017).
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Before 2017 buildings rera important or not
Vani
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2020-10-05T15:54:15+00:00 2020-11-12T12:08:53+00:00Comment
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