3 Common Myths about Residential Properties in India
Despite living in the digital era, where every piece of information can be obtained by a single google search, real estate buyers in India remain trapped in many myths. Being preoccupied with numerous deep-rooted misconceptions, they are not able to make the right investment decision. Thus, it’s important to recognize the various myths in this area and exercise due to caution when you hear them. Here we have enlisted a few of them: 1) RERA covers all projects Implemented in 2016, RERA protects home buyers from any chances of fraud. But most people think that the act covers every housing project. But contrary to this, RERA covers only those residential projects that have been constructed on at least 500 square meters or more area. For a project to be RERA complaint, the owner or builder needs to register it with the concerned authority. 2) Under-construction homes are safer now Before the implementation of RERA, the delayed building completion date was a common prob...