Understanding RERA: What Every Homebuyer Should Know:

Buying a home is a major life decision, both emotionally and financially. With the surge in real estate development across India, it has become essential to protect the rights of homebuyers and bring transparency to the process. This is where RERA (Real Estate Regulatory Authority) plays a crucial role.

Whether you're a first-time buyer or investing in a second home, understanding RERA can save you from legal hassles, project delays, and financial losses. In this blog, we’ll break down everything you need to know about RERA—why it matters, how it helps, and what you must check before buying any property.

What is RERA:
RERA stands for the Real Estate (Regulation and Development) Act, 2016, a landmark legislation passed by the Indian government to regulate the real estate sector.

It aims to:

Increase transparency in property transactions

Ensure timely delivery of projects

Protect the interests of homebuyers

Hold builders and developers accountable

RERA mandates that all residential and commercial projects above a certain size must be registered with the respective state RERA authority before advertising or selling.

Why RERA is a Game-Changer for Homebuyers:
1. Project Transparency:
Every RERA-registered project must disclose:

Layout plans and legal approvals

Completion timelines

Construction status

Builder credentials:

This gives buyers direct access to reliable, updated information on the project.

2. Timely Possession:
One of the biggest complaints of homebuyers before RERA was project delays. With RERA:

Developers are liable to pay interest for delayed possession

Strict timelines are enforced with penalties for non-compliance

3. Advance Limitations:
Builders can’t ask for more than 10% of the property's cost as an advance before signing a registered sale agreement.

4. Standardized Carpet Area:
RERA ensures that pricing is based on carpet area (usable area within walls), eliminating confusion around super built-up area.

5. Grievance Redressal:
Buyers can now file complaints with state-level RERA authorities. Disputes are resolved faster through the RERA Tribunal and Appellate Tribunal.

What You Must Check Before Booking a Property
To protect your investment, follow this RERA checklist:

✅ Check RERA Registration Number: Visit the official state RERA website to verify the project and builder.

✅ Review the Project Details: Look for layout plan, delivery date, past project history of the builder, and financial disclosures.

✅ Validate Land Title & Approvals: Ensure the land is owned or legally held by the developer and that environmental and municipal approvals are in place.

✅ Know Your Rights: You are entitled to a full refund (with interest) if the builder delays possession or fails to deliver as promised.

How to Check RERA Details Online:

Each state in India has its own RERA portal, such as:

UP RERA: https://www.up-rera.in/

MahaRERA (Maharashtra): https://maharera.mahaonline.gov.in/

Haryana RERA: https://www.haryanarera.gov.in/

You can search by:

Project name

Developer name

RERA registration number