To bring transparency and protect buyers in the real estate sector, the RERA Act is considered a major reform. This law has imposed strict accountability on builders and developers.
“The main objective of RERA is trust, transparency, and timely delivery.”
When Was RERA Implemented?
The Real Estate (Regulation and Development) Act came into force in India on 1 May 2016. After this, RERA registration became mandatory for all major residential and commercial projects.
Main Purpose of RERA
The objective of RERA is to protect buyer rights and ensure fair practices in the real estate market.
- Control over false promises by builders
- Legally binding project timelines
- Prevention of misuse of buyer funds
- Clear and transparent project information
Benefits of RERA Registered Projects
Investing in a RERA registered project provides legal security and peace of mind to buyers.
- Publicly available project details
- No hidden charges or misleading advertisements
- Legal right to compensation in case of delay
- Direct complaint mechanism through RERA authority
“A RERA registered project means legally verified investment.”