Nabil Patel DB Realty: 6 Interesting Facts about the RERA Act
The RERA Act was introduced to save both the buyers and builders from frauds. It has significant changes in the realty sector. The most common issue faced by buyers earlier was a delay in the projects. This left the customers dissatisfied as they could not get the house at the time fixed. However, prominent industry leaders such as Nabil Yusuf Patel are of the view that RERA Act has put an end to such issues. Here are a few interesting facts you would like to know about the RERA Act: A certain amount will be kept in the bank Nabil Patel Director of DB Realty explains that under the RERA Act, keeping 70 percent of the total amount, the builders take from the buyers, in the bank is mandatory. This deposit will have to be deposited separately in the bank and the money will strictly be used for the construction purpose only. Delays won’t be an issue anymore Delays have always been a huge problem that buyers faced after making any investment. However, the RERA Act has put