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The real estate market in India has changed a lot in recent years. To make property deals fair and clear, the government introduced RERA. Many people hear this word while searching for a flat or apartment, but are not sure what it really means.
RERA was created to protect homebuyers from delays, false promises, and hidden charges. It also makes builders and agents follow proper rules. In this guide, you will understand what is RERA, why it is important, and how it helps homebuyers, explained in a simple and clear way.
What is RERA?
RERA stands for Real Estate (Regulation and Development) Act, 2016.
It is a law made by the Government of India to bring transparency, honesty, and accountability to the real estate sector.
RERA protects homebuyers and also sets clear rules for builders and real estate agents.
Each state in India has its own RERA authority, such as:
- West Bengal RERA (WBHIRA)
- Maharashtra RERA (MahaRERA)
- Karnataka RERA, etc.
Why Was RERA Introduced?
Before RERA, buyers often faced:
- Project delays
- Changes in flat size
- False advertisements
- No clear information
- Difficulty getting refunds
RERA was introduced to:
- Protect buyers’ money
- Ensure timely delivery
- Stop misleading ads
- Make builders responsible
Who Must Register Under RERA?
1. Builders / Developers
All residential and commercial projects must be registered under RERA if:
- Land area is more than 500 sq. meters, or
- The project has more than 8 apartments
2. Real Estate Agents
Property brokers must also register with RERA to legally sell or promote projects.
What Information Is Available on RERA Website?
A registered project must share:
- Project layout and plan
- Approval details
- Completion date
- Carpet area
- Builder’s background
- Ongoing and past projects
This helps buyers verify everything before investing.
How Does RERA Protect Homebuyers?
1. On-Time Possession
Builders must complete the project on time.
If there is a delay, buyers are entitled to compensation or refund with interest.
2. No False Promises
Builders cannot advertise anything that is not approved.
Misleading ads are punishable under RERA.
3. Carpet Area Transparency
Flats are sold based on carpet area only, not super built-up area.
This avoids confusion and hidden charges.
4. Safe Use of Buyer’s Money
Builders must keep 70% of buyer payments in a separate bank account.
This money can be used only for that project.
5. Defect Liability
If any structural defect appears within 5 years, the builder must fix it free of cost.
Rights of Homebuyers Under RERA
Homebuyers have the right to:
- Get complete project details
- Receive possession on time
- Get refund and interest if delayed
- File a complaint with RERA authority
- Know exact carpet area
Duties of Homebuyers
Buyers must also:
- Pay installments on time
- Follow agreement terms
- Take possession when offered
- Pay maintenance charges
How to Check RERA Registration?
You can check RERA registration by:
- Visiting your state RERA website
- Searching by project name or builder name
- Verifying registration number and details
Always check this before booking a flat.
What Happens If a Builder Violates RERA Rules?
If a builder breaks RERA rules:
- Heavy fines can be imposed
- Project registration can be cancelled
- Builder may face legal action
This makes builders more careful and honest.
Is RERA Applicable to Ready-to-Move Flats?
RERA applies to:
- Ongoing projects
- Under-construction projects
Completed projects without a completion certificate at the time of RERA launch must also register.
Benefits of RERA for Homebuyers
- More transparency
- Less fraud
- Timely delivery
- Legal protection
- Peace of mind
Final Thoughts: Is RERA Good for Homebuyers?
Yes, RERA is a big win for homebuyers.
It has made the real estate sector more reliable and trustworthy.If you are planning to buy a flat, always choose a RERA-registered project. It ensures safety, clarity, and legal support.
Frequently Asked Questions (FAQs)
What is RERA full form?
Real Estate (Regulation and Development) Act.
Is RERA compulsory?
Yes, for most residential and commercial projects.
Can a buyer file a complaint under RERA?
Yes, buyers can file complaints online through the state RERA website.
Does RERA guarantee possession on time?
RERA enforces timelines and provides compensation if delayed.
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