K Taraka Rama Rao the Minister for Municipal administration today launched the RERA office here to protect the interest of the house buyers. If there is an issue for the buyers from the sellers of the real estate, they can make a complaint to the RERA office here in Hyderabad. This office is to protect you from the exploitation of the realtors. Even the realtors also can complain if they face any issue from the buyers who do not pay up properly.
This is like a win-win situation for both the sellers and the buyers. The RERA officials will resolve the issue at the earliest mediating between the buyer and sellers and coming to an amicable solution.
But they will not come on their own. One has to make a formal complaint with formal and valid reasons. MP Bandaru Dattatreya also participated in the launch of this office. The act and law were formulated by the centre to resolve the irregularities being done by the builders mostly while the buyers of the flats and houses suffered a lot all these years. This is called as Real Estate Regulation act.
This protects the interest of the home buyers especially and improves the market for the sellers. It also reduces the risk of the builder.