The real estate market in India is finally on the mend after two tumultuous years. The global pandemic created a nightmare situation that disrupted the supply chain, caused labor shortages, and halted construction across the country.
Now experts say the real estate market is recovering despite the pressure of rising inflation. Construction projects have resumed in full force and there are many great opportunities for potential investors.
It’s a great time for anyone looking to get into the real estate market to invest in Tamil Nadu. But you can’t start the investment process until you understand RERA.
Don’t wait too long. You never know when the next global emergency will throw the real estate market back into a tailspin. Find out everything you need to know about RERA in Tamil Nadu right now.
When the RERA Act passed approval, it led to the establishment of the Tamil Nadu Real Estate Regulatory Authority (TNRERA). The TNRERA has jurisdiction over Tamil Nadu, as well as the islands of Andaman and Nicobar.
The purpose of the TNRERA is to make real estate processes as transparent as possible. It makes real estate dealings, and transactions as efficient as possible. It also streamlines information delivery between parties.
RERA stands for Real Estate Regulatory Authority. The RERA Act of 2016 is a real estate act that made it mandatory for each of the states in India to have its own registration authority.