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What is Real Estate Act Rera?
By Housing News Desk April 23, 2021 All you need to know about Real Estate Act (RERA) Under the Real Estate Act, the central and state governments, are required to notify their own rules under the Act, six months, on the basis of the model rules framed under the central Act. Table of Contents [ hide]
What is the abbreviation for real estate?
Real Estate Abbreviations. A helpful list of the most commonly used real estate, land and property abbreviations used in most real estate related industries. Property Listing Abbreviations: AC or A/C ?Air conditioning. AEK ?All electric kitchen. APPLS ?Appliances. BA ?Bathroom. BR ?Bedroom.
What is the role of a real estate broker under Rera?
Under the Real Estate (Regulation and Development) Act (RERA), real estate agents will need to register themselves, to be able to facilitate a transaction. The broker segment in India, is estimated to be a USD 4 billion industry, with an estimated 5,00,000 to 9,00,000 brokers. However, it has traditionally been unorganised and unregulated.
What is the most positive aspect of the new Real Estate Act?
The most positive aspect of this Act is that it provides a unified legal regime for the purchase of flats; apartments, etc., and seeks to standardise the practice across the country. Below are certain key highlights of the Act: