RERA Registration

🏗️ What is RERA?

RERA, or the Real Estate (Regulation and Development) Act, was implemented on 1st May 2017 with the goal of reforming India’s real estate sector. It aims to protect homebuyers, promote transparency, and hold builders accountable.

This landmark legislation brings strict regulation to real estate transactions, making the process more structured, transparent, and consumer-friendly.

🏠 Key Features of RERA

• 🛡️ Greater protection for homebuyers’ investments
• 🕒 Timely delivery of homes and projects
• 🚫 Strict penalties for false promises and fraud
• 💻 Digitization of project details to reduce misinformation
• ⚖️ Speedy dispute resolution through real estate tribunals

🔄 RERA vs. Pre-RERA: A Comparison

Aspect	Before RERA	After RERA
Project Registration	Many projects were launched without proper approvals or registrations	Mandatory registration of all projects before advertising, selling, or accepting advance payments
Advertising Promises	False promises in advertisements without actual delivery	Advertisements are now legally binding; failure to deliver as promised results in penalties
Project Transfer	Buyers weren’t informed if a project was transferred to another builder	Transfers require official notification and approval; the previous promoter remains liable until the process is completed
Possession Delays	Delivery was delayed by years without any compensation	Buyers can claim refunds, alternate housing, or rent in case of unreasonable delays
Material Quality	Low-quality materials often used despite claims in brochures or agreements	Builders are now liable to use the promised materials; compensation applies for losses caused by inferior quality
Carpet Area Definition	Builders often misled buyers on actual usable space (carpet vs super built-up)	Exact carpet area must be disclosed. Buyers are required to pay only for the carpet area, not the built-up/common area
Access to Documents	Buyers received minimal paperwork, often just the sale deed	Builders must provide brochures, layouts, project approvals, agreements, and registration certificates
Bankruptcy Protection	Builders could declare bankruptcy and abandon the project, leaving buyers helpless	Builders must maintain 70% of funds in a dedicated escrow account, to be used only for that project
Post-Possession Support	Builders avoided responsibility for defects or issues post-possession	Builders are now liable for up to 5 years (extended from 6 months) to fix structural and quality issues

🧾 Documents Required for RERA Registration

Builders and developers must submit the following documents:

• ✅ PAN Card of the builder/developer
• ✅ Income Tax Returns (last 3 years) and balance sheets
• ✅ Declaration of apartment details (carpet area, floors, parking)
• ✅ Proof of legal title of the land
• ✅ Land ownership and mortgage details
• ✅ Consent letter from landowner (if builder is not the landowner)
• ✅ Project details (location, layout, sanctioned plan)
• ✅ Copies of the Allotment Letter, Agreement of Sale, etc.
• ✅ Contact details and qualifications of Architects, Engineers, and other professionals

🎯 Why RERA Matters for Homebuyers

• Builds trust and accountability
• Offers legal remedies in case of builder default
• Empowers consumers with access to verified project details
• Protects your hard-earned investment in real estate

🏢 Who Must Register Under RERA?

• Builders/developers launching residential or commercial projects
• Projects where the land area exceeds 500 sq.m. or includes 8+ apartments
• All agents and intermediaries dealing with real estate sales

📢 Conclusion

The RERA Act, 2016 has brought a much-needed revolution in India’s real estate landscape. It empowers buyers, regulates builders, and ensures fairness and accountability in one of the country’s largest investment sectors.

Whether you are a buyer or a builder, compliance with RERA is now essential.