In 2016, the Indian real estate sector underwent a transformative change with the introduction of RERA – Real Estate (Regulation and Development) Act. Since then, it has become a powerful shield for homebuyers and a framework of accountability for developers.
Here’s everything you need to know
What is RERA?
RERA (Real Estate Regulatory Authority) is a government body established under the Real Estate (Regulation and Development) Act, 2016.
Its aim? To protect homebuyers, increase transparency, and hold builders accountable in the real estate market.
Each Indian state and union territory has its own RERA authority to regulate local projects and ensure builders comply with the law.
Key Objectives of RERA
- Regulate the real estate sector
- Protect buyer interests
- Mandate project registration
- Ensure timely project completion
- Promote transparency and reduce fraud
What Does RERA Mean for You?
- Mandatory Project Registration
Builders must register all residential and commercial projects over 500 sq. meters or 8 apartments with RERA before selling. - Advance Payments Limited to 10%
A developer cannot demand more than 10% of the cost as an advance before signing a sale agreement. - Project Delays Are Penalized
If the builder delays the project beyond the promised date, they must pay interest to the buyer (equal to the interest charged by banks on home loans). - Buy What You’re Promised
Layout plans, carpet area, amenities, and possession dates mentioned at the time of booking must match final delivery—or the buyer can seek compensation. - Carpet Area Defined
RERA standardizes the definition of carpet area, making it uniform across all developers and preventing inflated pricing. - Dispute Resolution
Buyers can file complaints online on the state RERA website and expect timely redressal through the regulatory authority.
Why RERA Matters Today?
In a market once plagued with delays, false promises, and legal loopholes, RERA has introduced a consumer-first approach. It brings confidence back into real estate investment, especially for first-time homebuyers and NRIs investing from abroad.
How to Check If a Project is RERA Registered?
Visit your state’s official RERA portal (e.g. https://maharera.mahaonline.gov.in)
Search by Project Name / Developer Name / RERA ID
This allows you to verify:
- Legal status
- Project completion timeline
- Litigations (if any)
- Approved plans
Final Words
If you’re planning to invest in real estate – residential or commercial – make sure the project is RERA-registered.
It’s your legal right and your safety net.
Thinking about investing in property?
Always check the RERA number.
It’s your shield against real estate risks.
