– Promoters must regularly update project-specific details on TNRERA’s website as mandated by Section 11 of the Act.
– Essential details include land title,approvals,construction timelines,financials,marketing materials,and sale-related documents.- Transparency is seen as an investment to build long-term credibility and trust among homebuyers.
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The emphasis on transparency and consumer trust during the Tamil Nadu Real Estate Summit signals a continued push towards reforming India’s housing sector under stringent regulatory frameworks like RERA. By mandating updates about projects online, TNRERA aims to ensure informed decision-making for homebuyers while minimizing disputes arising from communication gaps or contractual inconsistencies.
The discussion around responsible advertising practices highlights growing concern over misleading campaigns often targeting buyers with insufficient context or false promises-a meaningful step toward standardizing ethical norms within India’s real estate industry.
Such initiatives coudl foster mutual trust between developers and buyers while boosting confidence in regulated markets like Tamil Nadu’s burgeoning urban housing segments. Tho, seamless implementation remains crucial for translating these well-intended measures into tangible outcomes for all stakeholders involved.