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One more thing to notice before buying an apartment

Before buying an premium apartment in chennai , it is essential for a buyer to note and analyse multiple parameters. It is essential for them to note the recent turn of events in the real estate industry.

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One more thing to notice before buying an apartment

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  1. One more thing to notice before buying an apartment Before buying an premium apartment in chennai , it is essential for a buyer to note and analyse multiple parameters. It is essential for them to note the recent turn of events in the real estate industry. One of such event is the passing of Real Estate (Regulation and development) Act’2016 in May 2016. The main intention of this act is to protect the home buyers and boost investments. The rules of the said act were to be issued by the respective state governments within 6 months of the passing of this act. As a result, the TN state government introduced TNRERA (Tamil Nadu Real Estate Regulatory Authority) in June 22, 2017. The state government notified that it is mandatory for the Real Estate agents and property dealers to register with TNRERA. Promoters of housing projects with a minimum of 8 housing units (Apartments) should register with TNRERA. The tedious process involved in accessing the authentic building approval for larger projects is removed by the introduction of TNRERA. Officials started uploading links to details about the projects under its purview online. Real estate developers in chennai and Agencies are supposed to register with TNRERA. The buyers can view the details of the agents or agencies like name, addresses and the registration numbers on the TNRERA portal. The validity of said registration is 5 years. The agent and agencies must periodically renew their registrations. the registration fees of agents and agencies are 25,000 and 50,000 INR respectively. TNRERA has the power to revoke the registration of the agent or an agency for any irregularities or illegalities. Just within a month of introduction of this bill, over 5 major realtors registered with TNRERA. By October 2017, over 150 projects have been registered by various realtors across Tamil Nadu. Majority of said projects are centred around Chennai and few around Coimbatore. Hence, the buyers should make use of this portal to learn about the new projects in the locale of their desire before making their purchase decisions. Voora is one of the best Real estate developers in chennai And promotes a various level of apartments like individual villas in chennai, Premium apartments in chennai etc. Voora provides the best affordable houses with ultra luxury segment, synonymous with the quality, timely delivery and trust.

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