RERA – Real Estate Regulation Act | India

The following are some of the RERA Act’s main goals:


Protecting the rights of homebuyers: In order to guarantee project completion, the statute requires developers to deposit 70% of the project’s finances in a separate account. By preventing financial abuse, this safeguards the interests of property buyers.


RERA encourages transparency by requiring developers to provide authorities and prospective buyers with full disclosure of all relevant project information, including its status, price, and schedule. As a result, there is a lower chance of fraud and misrepresentation and the real estate industry is more transparent.


The act calls for a fast-track dispute resolution mechanism through the formation of real estate regulatory bodies (RERAs) at the state level.


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