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Namaskar, My name is Mukul, and welcome to Asset Yogi

Where we unlock the knowledge of real estate and finance

Real estate has been always an unregulated sector in India.

If I compare it with the stock market, you might have seen SEBI which is the regulator.

So SEBI makes all the rules and regulations on stock trading, time limits

because there are limits and regulations for everything.

There was no such regulator in real estate

So there were many frauds, builders were arbitrary and use to make all agreements in their favour.

Because of those agreements, buyers faced huge losses,

they didn't get possession on time

Also, they use to pay EMI's along with rent.

I won't say that only buyers faced losses.

Many builders and agents also faced losses.

How? Because of the negative market sentiments.

And if buyers and investors will not be in the market, sentiments will be negative

As you might saw in the last 4-5 years, the real estate sector is down

Even builders are not able to sell their inventory.

So whether you're a buyer, builder, or an agent

Watch this video till the end

Because I'm going to go in-depth and explain each clause to you

I studied the RERA act in-depth and we'll see each clause in detail

And with that, this act is a central act and

According to the model guidelines by the Central government on 1st May 2017,

Every state has to make its own rules and regulations on these guidelines.

And it is already implemented in many states.

Each state created its own Real Estate Regulatory Authority and with that

Each state has to make a tribunal which is a small court handling these cases.

Because I'm going into detail, this video might be lengthy

So arrange your tea/coffee and watch this video till the end.

Let's switch on my computer screen.

First of all, let's understand what is RERA.

The full form of RERA is the Real Estate Regulation and Development Act 2016.

2016 because it was first notified on 1st May 2016.

At that time 59 sections were notified and it came to full force on 1st May 2017

When all the sections are completely notified.

So it is applicable pan India, in all the states and Union Territories except Jammu and Kashmir.

And it is only applicable for under-construction properties or projects