RERA ACT - Real Estate Regulatory Authority & RERA Rules

What is RERA ?

RERA stands for the Real Estate Regulation and Development Act. It is a landmark legislation in India that was enacted in 2016 with the aim of protecting the interests of home buyers and promoting transparency and accountability in the real estate sector. The act establishes a regulatory authority at the state level to regulate the sale of property and ensure the timely completion of projects. The act also requires developers to register their projects and comply with certain standards, including the requirement to disclose information about the project and its development status. Additionally, the act provides for the creation of a dispute resolution mechanism for resolving disputes between buyers and developers. The implementation of RERA has been a significant step towards providing a more organized and transparent real estate market in India.

The Main Benefits of RERA

  • Protects the rights of homebuyers: RERA provides a platform for homebuyers to resolve disputes with developers, protects their interests, and ensures timely delivery of properties.

  • Increases transparency: RERA requires developers to disclose all the relevant information about a project, such as the stage of construction, the cost of the project, and the expected date of completion. This helps buyers make informed decisions and reduces the risk of fraud.

  • Promotes fair practices: RERA requires developers to deposit 70% of the funds collected from buyers in a separate account to ensure that the money is used only for construction purposes. This helps prevent developers from using buyer's money for other purposes.

  • Encourages the growth of the real estate sector: RERA helps to create a more organized and transparent real estate sector, which will attract more investment and ultimately lead to the growth of the industry.

-> Overall, RERA has helped to improve the functioning of the real estate sector in India, and has provided a more secure and reliable environment for homebuyers.


RERA approved projects: Which projects can get RERA approval?

The Real Estate Regulatory Authority (RERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016 in India. This act applies to all states and Union Territories of India, except the state of Jammu and Kashmir.

According to the RERA act, any real estate project that involves the development of land into plots or apartments for sale, and involves the receipt of consideration from buyers, must be registered with the RERA of the respective state. The project registration process requires the submission of various documents, including the layout plan, details of the promoter and project, and a declaration regarding the project's adherence to various statutory requirements.

Once the registration is approved, the promoter is granted a RERA registration number, which must be prominently displayed at the project site and on all promotional materials. The project is now considered RERA approved and can legally be marketed and sold to prospective buyers.

It's important to note that RERA registration is a continuous process and the promoter is required to submit regular updates on the progress of the project and adhere to the conditions specified in the RERA registration certificate.

=> Summary 

  • Commercial and residential projects including plotted development.
  • Projects measuring more than 500 sq mts or 8 units.
  • Projects without Completion Certificate, before commencement of the Act.
  • The project is only for the purpose of renovation / repair / re-development which does not involve re-allotment and marketing, advertising, selling or new allotment of any apartments, plot or building in the real estate project, will not come under RERA.
  • Each phase is to be treated as standalone real estate project requiring fresh registration


    • How to register projects under RERA?

    To register a project under the Real Estate Regulatory Authority (RERA), you will need to follow these steps:

    1. Obtain a PAN number for the promoter (developer) and the project.

    2. Open a separate bank account for the project, to be used for receiving funds from allottees (buyers).

    3. Prepare a detailed project report, including information on the promoter, the project, the plot of land, details of construction, layout plan, etc.

    4. Obtain all necessary approvals and clearances from relevant authorities, such as the building plan approval, environmental clearance, etc.

    5. Submit the following documents to the RERA authority in your state:

    • Application form for registration of the project.

    • PAN number and bank details of the promoter and the project.

    • Detailed project report, along with all supporting documents.

    • Approvals and clearances obtained from relevant authorities.

    • Affidavit and undertaking by the promoter.

    • Agreement for sale, along with a list of allottees (buyers) and their details.

    • Pay the required fees for registering the project.

    • Wait for the RERA authority to verify the submitted documents and approve the registration of the project.

    Once the project is registered, the promoter is required to comply with various regulations under RERA, such as timely completion of the project, submission of regular progress reports, providing escrow account statements, etc.

    Note: The process for registering a project under RERA may vary slightly from state to state, so it's best to check with the RERA authority in your state for specific requirements and procedures.

    RERA in states

    Real Estate Regulation and Development Act (RERA) is a legislation in India that regulates the real estate sector and protects the interests of home buyers. It was passed in 2016 and applies to all states and Union Territories in India. The act mandates that all real estate projects in India, both residential and commercial, must be registered with the relevant RERA authority in the state or Union Territory where the project is located.

    The main objective of RERA is to ensure transparency and accountability in the real estate sector and to protect the rights of home buyers. The act requires real estate developers to disclose information about the project, such as the layout plan, land status, and the status of various approvals, among other things. It also provides for the establishment of a dispute resolution mechanism to resolve disputes between real estate developers and home buyers.

    Each state and Union Territory in India has its own RERA authority responsible for implementing the provisions of the act within its jurisdiction. Some states, like Maharashtra and Uttar Pradesh, have their own websites where real estate developers can register their projects, and home buyers can access information about registered projects.

    A total of 28 states have appointed interim Real Estate Appellate Tribunals, including 24 regular and four interim, under the Real Estate Act. In 28 states and UTs, the regulatory authorities have operationalised their websites as per the provisions of RERA.

    In conclusion, RERA is an important piece of legislation that aims to regulate the real estate sector and protect the rights of home buyers in India. Each state and Union Territory has its own RERA authority responsible for implementing the provisions of the act within its jurisdiction.

    How to Ensure that the Property is RERA Compliant?

    To ensure that a property is RERA compliant, here are some steps you can take:

    1. Check the RERA registration number: The first step is to verify if the property is registered under RERA. This can be done by checking the RERA registration number on the official website of the state's Real Estate Regulatory Authority (RERA).
    2. Review the project details: Before purchasing a property, make sure to review the project details mentioned on the RERA website. This will give you an idea of the approved plans, specifications, and timelines for the project.
    3. Verify the developer's credentials: You should also verify the credentials of the developer, such as their track record, past projects, and their financial stability.
    4. Get a RERA-compliant agreement for sale: Ensure that the agreement for sale of the property is RERA-compliant. It should clearly mention the details of the project, the builder, the payment schedule, and the delivery date.
    5. Seek professional help: If you are not familiar with RERA and its provisions, consider seeking the help of a real estate lawyer or a RERA consultant to ensure that the property is RERA compliant.

    By following these steps, you can ensure that the property you are purchasing is RERA compliant and that your rights as a property buyer are protected.


    Penalties Under RERA

    The Real Estate (Regulation and Development) Act, 2016 (RERA) is a central law enacted in India to regulate the real estate sector and protect the rights of property buyers. The act provides for several penalties in case of violation of its provisions. Some of the major penalties under RERA include:

    1. Fine: In case of any violation of RERA provisions, the promoter may be fined up to 10% of the project cost.
    2. Imprisonment: If the violation is serious, the promoter may face imprisonment for up to three years.
    3. Refund of amount: If the promoter fails to deliver the project within the specified time, the buyer is entitled to a refund of the amount paid along with interest.
    4. Cancellation of registration: If the promoter violates RERA provisions repeatedly, the authority may cancel its registration, making it difficult for the promoter to carry out any real estate projects in the future.
    5. Compensation: In case of any harm or loss caused to the buyer due to the promoter's violation of RERA provisions, the buyer may be entitled to compensation.
    6. Bar on future projects: The authority may bar the promoter from launching any new projects or receiving any new registrations for a specified period of time.

    It is important to note that the penalties under RERA are intended to act as a deterrent and ensure that real estate projects are completed in a timely and transparent manner, and that the rights of property buyers are protected.


    List of States that have Enforced RERA ACT

    The Real Estate (Regulation and Development) Act, 2016 (RERA) is a central legislation aimed at regulating the real estate sector in India and protecting the interests of homebuyers. The act was enacted in 2016 and has been implemented by various states in India. Here's a list of states in India that have enforced RERA, along with the website URL where one can find more information:

    1. Andhra Pradesh - http://reraap.in/
    2. Arunachal Pradesh - https://arunachalPradesh.gov.in/rera
    3. Assam - https://reraassam.in/
    4. Bihar - https://biharrera.in/
    5. Chhattisgarh - http://rera.cgstate.gov.in/
    6. Goa - https://rera.goa.gov.in/
    7. Gujarat - https://gujaratrera.com/
    8. Haryana - http://reraharyana.gov.in/
    9. Himachal Pradesh - https://himachal.gov.in/rera
    10. Jharkhand - http://jharkhandrera.org/
    11. Karnataka - https://rera.karnataka.gov.in/
    12. Kerala - https://rera.kerala.gov.in/
    13. Madhya Pradesh - https://www.mprera.in/
    14. Maharashtra - https://maharera.mahaonline.gov.in/
    15. Meghalaya - https://meghalaya.gov.in/rera
    16. Mizoram - https://mizoram.gov.in/rera
    17. Nagaland - https://nagaland.gov.in/rera
    18. Odisha - https://reraodisha.in/
    19. Punjab - http://rera.punjab.gov.in/
    20. Rajasthan - http://rera.rajasthan.gov.in/
    21. Sikkim - https://sikkim.gov.in/rera
    22. Tamil Nadu - https://tnrera.in/
    23. Telangana - https://rera.telangana.gov.in/
    24. Tripura - https://tripura.gov.in/rera
    25. Uttar Pradesh - http://up-rera.org/
    26. Uttarakhand - https://ukrera.org/
    27. West Bengal - https://wbrera.in/

    Please note that this information was accurate as of my knowledge cutoff (2021-09) and the websites listed may have changed or updated since then.

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