Delhi RERA to Redefine Real Estate Advertising Standards
Greater Transparency for Homebuyers
The Delhi Real Estate Regulatory Authority (Delhi RERA) is set to introduce new guidelines aimed at promoting transparency in the marketing and advertising of real estate projects. Builders and stakeholders will soon be required to market properties based on carpet area – the actual usable area of a flat – ensuring buyers have clarity on the space they are paying for.
Understanding Carpet Area
Unlike super built-up area, which includes common spaces, or built-up area, which accounts for wall thickness, carpet area focuses on the usable space inside a flat. This shift empowers buyers to make informed decisions and eliminates misleading advertising practices in the Delhi-National Capital Region (NCR).
Strict Penalties for Non-Compliance
To ensure compliance, Delhi RERA will impose heavy fines on builders violating the guidelines. These measures aim to establish a fair and transparent real estate market, safeguarding the interests of homebuyers while holding developers accountable for accurate marketing.
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