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Updated by Saloni Mehta on Oct 10, 2017
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Saloni Mehta Saloni Mehta
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5 Benefits That RERA Will Have on Investments in Real Estate

MahaRERA is the act which allows buyers to monitor the progress of the projects to ensure transparency. Here are some most important benefits of RERA act that can be useful for NRI's.

1

Simplified Procedures:

Simplified Procedures:

RERA will make it mandatory for every state and union territory to have online registrations. With documentation processes made easy, consumers will benefit and save time.

2

Transparency:

Transparency:

With the RERA website going live, consumers can track the developments of the projects from any nook and corner of the world. All plan layouts and documents will be uploaded on the site, giving them no reason to worry about their investments.

3

Timely Possessions:

Timely Possessions:

The biggest worry customers face while investing in real estate properties in India is their fear of delayed possessions. RERA will ensure that they will not have to face any possession-related problems.

4

Trustworthy:

Trustworthy:

A strong and authoritative implementation of RERA will build a strong trustworthy relationship between consumers and the developers, hereby encouraging more investments.

5

Grievance Redressal:

Grievance Redressal:

With RERA coming into effect, consumers will have an official authority to address their grievances and complaints pertaining to their real estate investments. This will enable them to act promptly and take better decisions.

7

Conclusion

It’s a known fact that Non-Resident Indians (NRIs) have always been keen on investing in real estate in India. Investing in a fast-growing economy and a chance to get higher returns on their investments are the prime reasons why NRIs have opted to invest in India.

As compared to other cities, Mumbai continues to be a favorite hub for NRI investors. NRI investment in Mumbai has significantly been on the rise.

RERA Magic on NRI Investments

While NRIs have continued to invest in real estate in Mumbai, RERA will increase their confidence by manifolds, as it ensures a transparent and a more investor-friendly system in place.

A healthy policy change is a big boost for a growing economy. And with RERA all set to transform the realty sector, it can be said that consumers will have a good time investing in a rich market like India, especially in Mumbai, which is a growing market for maximizing returns.