RERA (The Real Estate Regulation and Development Act) is aimed at protecting homeowners’ interests and enhancing transparency within the real estate sector. Apart from the various provisions that protect the interests of homeowners, there are a few other provisions and penalties prescribed by the act that will have a bearing on the various other players in the real estate sector, including builders and brokers.
Let us explore some of the salient features of the Act and its provisions:
What it is?
RERA is an Act (a set of laws) that was passed by the Government of India to protect the interests of people who invest in real estate – homebuyers and homeowners. It is also aimed at boosting investments in the sector by encouraging developers, builders and other parties through various provisions. The laws have been in place since 2016, and requires the state governments to form their own set of rules using the central Act as a model, and to notify the public of these provisions.
Why was it enacted?
For a long time, home buyers have complained that the transactions in the real estate sector heavily favor the developers and builders. Therefore, the primary aim of this Act is the create a platform for equitable transactions between the buyers and sellers of the properties, especially within the primary market.
The Act will also make real estate transactions more transparent, by ensuring accountability. But these will only hold if the spirit of the law is followed as individual states and union territories model their own versions on the central Act.
Key highlights of the act
There are many positive aspects of this act. One of the more significant ones is the provision of the unified legal regime for apartments and flats purchase which will serve to standardize various practices. Some of the other key highlights include:
Regulatory authority establishment: Previously, there was no proper regulation in the sector. The act has come in to establish an authority at the state and union territory level. Its functions include protecting the interests of different stakeholders, creating a redressal system for grievances, and to serve as the repository of data. To prevent delays and time lags, the law also stipulates that applications are to be disposed of within 60 days.
Compulsory registration: According to the act, each and every project needs to be registered in the state where it is undertaken. Projects already underway or in existence should also comply with the requirements of registration in accordance with the law. Promoters have to give detailed information regarding the project – including land status, promoter details, schedules, approvals and so on. The project can only be marketed when all approvals have been sought and registration is complete.
Reserve accounts: When projects are delayed as a result of funds being directed into new projects. According to the act, the promoters will have to set aside 70 percent of the receivables into a reserve account. Such an account can be used to aid in the expenses.
Title representation: Promoters will have to make a warranty that is positive on the title and the interest in the land that can be used against him by a homebuyer if the title has any defects. Insurance has to be acquired too.
Resource: You can find more information on how RERA has impacted real-estate industry here. Different aspects of the real estate industry are put into consideration and this ultimately will protect all the players in the industry.
Burglars have been cause for concern ever since people built the first homes. These days however, with rising awareness on how to protect homes, burglaries seem to have taken a downward turn. That said, the situation is little cause for comfort as research suggests that a burglary happens almost every 20 seconds. To protect ourselves against it, the best possible approach is to gain the knowledge and expertise required to deter robbers.
After extensive and thorough research on home security, we have gathered here the most important things home owners have learnt from burglaries:
Familiarize yourself with local crime trends
Having a keen awareness of crime trends in your locality and surrounding areas will be your first line of defence against burglars. Not only will this allow you to choose a home in the right area, but it will also help you keep track of burglars and their movements. If it so happens that homes in your locality are being robbed very often, you can then take the necessary security measures to prevent your home from being broken into. Do make sure that you read the newspaper and discuss with your neighbours about safety and security on a regular basis. Being there for one another is a positive step for everyone in your neighbourhood.
Secure the surroundings of your home
Many of us don’t know that burglars observe the homes closely that they plan to break in to. So leaving bushes untrimmed or leaving garden implements and newspapers lying around clearly tells the burglars that you are away and even helps them gain easy access into your home. Storing these away in a safe location and ensuring that the perimeter of your home is devoid of any hiding spots is a great first step.
While we’ve all heard of motion sensor technology making, little do we understand that it is a boon to home security. Installing devices around your home that detect motion and alert you can serve as your second line of defence against burglars.
Install smart locks instead of traditional ones
All of us are scared that our personal data will be compromised if we forget our phones, and leave it unlocked. But little do we realize that even if we forget to lock our doors once, it can have disastrous consequences. Modern technology, however offers us smart locks that are extremely convenient in exactly such situations. These devices automatically lock your door as you leave, but can allow access to guests even when you’re away if you authorise it! They also keep track of who enters and leaves your home, and offer a plethora of other benefits.
Install A Doorbell Camera or Home Security Cameras
Last but most important, is installing a doorbell camera or other kinds of home security cameras. Having one of these will make burglars think twice before even showing their face near your home. The risks of dealing with a smart home security system that encompasses openness, smart locks, and smart cameras together are far too great for any burglar. Moreover, even if someone manages to break in, footage recorded by your security device can definitely aid law enforcement.
Get started today. You don’t have to invest in everything all at once, but build layer after layer, making your home more and more secure.
At a time when security technology becomes more and more sophisticated every day, there is little doubt that thieves are doing whatever it takes to step up their game too. Not only do they thoroughly ‘stake-out’ targets before breaking in, but they are also enhancing their skills to be more ‘professional’ burglars.
But let us find out from the burglars who got caught, what they did right, and what they did wrong, and how we can use it against them – to stay secure:
Make it look less hospitable
When a burglar scouts a home, the very first thing he/she looks at is how well-lit the surroundings are. Darker compounds and alley-ways make for better hiding spots which burglars can take advantage of. Ensuring that there are lights all around your home is the very first step towards a safer home. Also, now technology allow for lights to be integrated with motion sensors. You should really consider getting them.
Having gravel pathways instead of a lawn can also deter burglars as walking on pebbles causes far too much noise.
Clear the Way
We like to get creative with our gardens and homes, with intricate bush gardens or high hedges. But did you know that overgrown trees and bushes are the perfect vantage point for burglars? Having them near your windows and doors can be counterproductive to your safety goals. Always ensure that the trees, bush gardens and shrubs around your home are well-maintained, and do not become blind-spots or hiding holes.
Lock things up
Keeping the doors and windows locked up might seem like the most obvious thing to. But more often than not, they are the things we fail to pay attention to. Leaving spare keys under mats or pots is the very first security no-no. Also, reinforcing doors and windows with wooden or metal dowels will ensure that a burglar cannot break in to your home.
Raise the bar
With burglars really committing to getting better at what they do, why shouldn’t you get better at defending against it? Installing a professional home security system is your best bet when it comes to safe guarding your home. Among a host of other benefits, being connected to your household 24/7 is a blessing. Burglars will simply not want to take the risk of breaking into a home that is secured with a smart security system.
Let’s stay sharp and secure, shall we?
Burglaries have become all too common. What makes it easy is the fact that valuable objects that are easy to boost are all too common. Here is a list of the most valuable things in your home and how you can secure them.
Bicycles: You might be a huge riding enthusiast, so obviously you pay a fortune for a very good ride. Keep it safe. Invest in a good strong padlock or tuck it inside your garage when you are not using it.
Cash: It’s the most obvious target, but also the most commonly ignored. Always keep your cash in locked drawers or safes. Loss of liquid money is the last thing that should happen to you.
Electronic devices: The most common form of theft these days. Electronic devices are not only valuable, but extremely portable. Ensure that you hide your chargers, USB cables and other essentials to discourage a burglar from stealing them.
Firearms: Possession of firearms is a rare case. But if they get into the wrong hands, you not only enhance the potential for crime in your home, but a stolen firearm could be used in your neighbourhood as well. Save yourself the trouble and invest in a home security system rather than depending on a firearm to safeguard your home.
Jewellery: Every burglar’s dream come true is finding jewellery lying around. They are almost impossible to track, once you lose them. Small packages which are worth a lot must always be secured in a safe, even when it is inside the house.
A few tips to protect your valuables
- Install surveillance cameras in rooms that have high value items. This will help you identify a burglar in case your house in broken into
- Install smart locks that help you track who, when and where anyone enters and exits your home
- Ensure that the tracking capabilities of your digital devices are always turned on. Then you can easily render them useless in the hands of a burglar. It might even help the police track and catch the culprit