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Rajasthan Real Estate Regulatory Authority or Raj RERA was constituted on March 6, 2019.
The RERA Act Rajasthan was implemented with the objective of bringing transparency to the real estate sector and create a customer-friendly market.
Moreover, it also provides an open platform for the homebuyers to register their queries and complaints.So, if you are a home buyer from Rajasthan, we at Truehomes24 have listed significant facts about Raj RERA Act that you should know.Registration of Real Estate ProjectsAll the commercial and residential real estate companies are compulsorily required to register their projects along with details.
If they are found violating the Act any further, they shall be entitled to imprisonment for a period of 3 years or less.
They may even be entitled to a fine payment which may extend up to a further 10% of the project cost.Registration of Real Estate AgentsAs per Act, every real estate agent is required to be registered with RERA failing which he shall not be able to undertake the sale or purchase of a property.
If he still carries out his business activities he shall be charged with a penalty of 10,000/- rupees for every day during the period when the default continues.

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