Answer By law4u team
Under the Real Estate (Regulation and Development) Act, 2016 (RERA), builders and developers are required to disclose project details in a transparent manner to home buyers. Some of the key requirements for disclosure of project details under RERA are: Details of the promoter: Builders and developers are required to disclose their name, registered address, type of enterprise, and details of their registration with the RERA authority. Project details: Builders and developers are required to disclose the details of the proposed project, including the size of the project, number of apartments, and details of the land on which the project is being developed. Project timeline: Builders and developers are required to provide details of the timeline for completion of the project, including the date of possession of the apartments. Approvals and Permissions: Builders and developers are required to provide details of all the approvals and permissions obtained for the project, including the building plan, environment clearance, and other statutory approvals. Cost and Payment Schedule: Builders and developers are required to provide details of the cost of the apartment and the payment schedule. Carpet area and built-up area: Builders and developers are required to disclose the carpet area and built-up area of the apartments. Status of the project: Builders and developers are required to provide regular updates on the status of the project, including photographs of the construction site. These details are required to be disclosed on the website of the RERA authority and also on the website of the builder or developer. This helps ensure transparency in the real estate sector and protect the interests of home buyers.
