Important information that one should keep in mind about the RERA Act for Real Estate. What RERA Stands for? What are the benefits with RERA?

1. R E R A ?
W H A T I S

2. R E R A
Real Estate (Regulation and
Development) Act, 2016 which seeks
to protect home-buyers(in India) as
well as help boost investments in the
real estate industry.

3. R E R A
The Act establishes (RERA) Authority
in each state for regulation of the
real estate sector

4. R E R A
It also acts as a body
for speedy dispute
redressal

5. HERE’S WHAT YOU NEED TO
KNOW
ABOUT THE ACT

6. B I N D I N G
Compulsory registration of new
and ongoing projects
1

7. The project
is very small i.e.
the area
developed is less
than 500 square
meters & the no.
of flats < 8
Builder
has already
obtained
completion
certificate, they
do not have to
register their
project under
this law
H O W E V E R , T H E R E I S N O
M A N D A T O R Y R E G I S T R A T I O N
I F ,

8. S H I E L D
The builder or developer has to
publish all details about their
projects on the Regulatory
Authority website
2

9. S T R I C T
If the builder or developer has not handed over
the property by the date mentioned in your
agreement for sale or if the registration granted
by the Regulatory Authority has been
suspended or revoked, buyer has the right to
withdraw from the project.
3

10. F A I R
If you choose to withdraw from the project, you
have the right to be compensated for the full
amount you have paid to date along with
interest. (You get this right as soon as the date
has passed.)

11. R I G H T S
You do not have to file a complaint or case at
this point. The developer and/or builder is
supposed to compensate you as soon as you
make the request.

12. O V E R D U E
If you choose not to withdraw from the project,
you have the right to be compensated with
interest for every month of delay.
4

13. E S C R O W
70% of the money collected from the buyers
should be kept in a separate account to meet
project cost requirements
5

14. R E C O R D
Brokers need to be Registered with
specific projects to undertake
project marketing
6

15. D U R A B L E
Structural Defect Liability period of
5 years from the handover of the
project
7

16. L O G I C A L
All sales on Carpet Area Basis with a
clear definition of Carpet Area
included within the Act
8

17. IF THERE IS A REGULATORY
AUTHORITY SET UP IN MY STATE, CAN I
STILL APPROACH A CIVIL COURT OR
FILE A WRIT PETITION BEFORE THE
HIGH COURT?

18. Q & A
No, if the Regulatory Authority has been set up
in your state, you cannot file a case before a
civil court or file a civil writ petition before the
High Court.

19. Q & A
However, since this is a very new law and some
states may not have set up a regulatory
authority, you might still have the option of
filing a civil case.

20. T H A N K
Y O U