Jun 15, 2023Real Estate Deconstructed
RERA: Key Features, Objective and Benefits
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Contents
Frequently Asked Questions
What is the RERA Act's full form? Is it applicable to commercial property as well?
Ans. RERA's long form is Real Estate Regulatory Authority (RERA) Act. RERA registration is mandatory for residential and commercial real estate.
Do I have to pay for parking in a RERA-Registered Project?
Ans. Covered parking and garages are permitted to be sold under RERA. However, open parking comes under the RERA meaning ‘common areas’, and is hence not permissible.
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