The year 2016 was a watershed year in the history of India’s real estate sector as that was the year when the Real Estate (Regulation and Development) Act was formally instituted. The Act was a much needed one to regularise the sector which had been plagued by several lacunae. Every state was to adopt the RERA Act and Maharashtra was one of the first to fully implement the Act in the form of the Maharashtra Real Estate Regulatory Authority or MahaRERA. Under the aegis of the act, it is mandatory to register every residential and commercial project. The act offers complete transparency on the sale and purchase of plots, apartments and buildings which in turn serves to protect customers interests and presents them with a platform for quick redressal of disputes and complaints. Covering every aspect of real estate, the RERA Act also necessitates that channel partner should also be registered and those who do not comply will not be permitted to mediate or facilitate any sale of property.
When it comes to purchasing property, other than going to a reputed developer directly, the best decision for prospective buyers is to consult a RERA registered channel partner.
One could equate approaching a channel partner for property with consulting a reputed doctor for an ailment, both afford us peace of mind, an appropriate solution and the right guidance.
In addition to the RERA certification, the channel partners are required to have a COC (Certificate of Competency) which they can procure after passing a course as approved by empanelled RERA institutes, which makes the channel partners an authentic and valuable guide while buying a home. Of the several reasons and advantages of availing the services of a RERA registered channel partner, the primary ones are these:
The Official Stamp of Approval: A RERA registered channel partner has been vetted by the government and has been found above board in their dealings. Thus, this is a person or firm a prospective buyer can trust. As per the RERA directives all channel partners registered with them are prohibited from ‘unfair trade practices’ and can only deal in properties that have a RERA registration. They are legally bound to not participate in any activities or advertising that can be misleading or give false information. Moreover, they have an obligation to present the buyers will all information and documents with regard to the concerned property.
In-depth Market Knowledge: Property buyers would know that there is a plethora of options in the market. Whether you are looking for a residential apartment, commercial space, second home or an investment opportunity in real estate, the choices out there are likely to get you confused. Consulting with a channel partner helps to give you a better perspective. They understand the market, have in-depth knowledge about projects and are aware about the nitty-gritties of the sector. Thus, they are able to guide you with the best options given your reason for purchasing property. Once you give them your brief, then you can rest assured that the properties they suggest will meet your requirements of budget, location, facilities available, whether ready to move in etc as they have the ready research available with them. Moreover, the channel partners are also aware of any future developments are going to take place, infrastructure projects by the government and thus can inform buyers about potential of a location or area in the city which is likely to grow or appreciate in the future.
The Complete Package: A channel partner will provide you with services that cover the entire gamut right from viewing and selecting the property till the final registration. The channel partner will not only shortlist properties as per your check list of requirements but will also arrange for site visits and give you pros and cons of each. Overall, the main advantage of taking guidance from RERA registered channel partners is that they can educate customers through their whole process of homebuying from the legalities to the nitty-gritties as they have in-depth understanding of the system and the market, acting as a reliable resource. Some of the channel partners will also assist with after sale services like interior décor, movers and packers etc.
Convenience Guaranteed: Consulting a channel partner is certainly the more convenient choice. The time-consuming process of short-listing properties is taken care of for you as all the other details that make property buying a hassle for most people.
A good RERA registered channel partner is going to get you the property that you need, with minimum fuss and with the best deal possible, it doesn’t get better than that!