How to Check RERA Status and Approval

The Real Estate (Regulation and Development) Act, 2016 (RERA), is a landmark legislation in India’s real estate sector. Enacted by the Indian Parliament, this Act aims to safeguard home buyers and enhance transparency within the industry. By setting forth clear regulations and penalties, RERA ensures fair practices and promotes investor confidence.

Steps to Check RERA Registration Status

To verify the RERA registration status of a real estate project, follow these steps:

1. Visit the RERA Website: Access the official RERA website for your respective state.
2. Search the Project: Enter the RERA number provided by the builder in the search field.
3. Review Project Details: If the project is registered, view all the information submitted by the builder to the regulatory authority.

Example Table: Checking RERA Status

Step	Description
1. Visit RERA Website	Go to the official RERA website of your state.
2. Search the Project	Enter the RERA number in the search field.
3. Review Details	View the submitted project information, including approvals and timelines.

Importance of Checking RERA Approval Status

Conducting a thorough check of the real estate project’s RERA registration status ensures that you are making an informed decision. This is particularly beneficial when applying for a home loan, as it provides assurance about the project’s compliance and legitimacy.

To check the RERA approval status, visit your state’s official RERA website, navigate to the ‘Project Status’ section, and enter the project details or registration number.

You can also contact the respective RERA office for assistance.

What is RERA and Its Impact?

RERA mandates each state and Union Territory to establish its regulatory authority with specific rules to govern real estate activities. The Act addresses key issues such as project delays, pricing, construction quality, and title disputes. Its primary objective is to protect the interests of home buyers while encouraging investment in the sector. Key Features of RERA are-

Theme	Description
Consumer Rights	Ensures buyers are well-informed and protected from fraudulent practices.
Regulatory Oversight	Monitors activities of real estate developers, brokers, and intermediaries.
Duties of Developers	Defines responsibilities and penalties for non-compliance by developers.
Registration and Dispute Timelines	Sets deadlines for project registration and dispute resolution.
Penalties and Liabilities	Specifies consequences for violations by developers and brokers.
Investor Roles	Outlines the duties and obligations of investors in real estate projects.

Compliance Requirements for Builders

Builders must adhere to several compliance requirements under RERA:

• Informing Allottees: Builders must inform allottees about any project alterations.
• Consent for Changes: Major changes require consent from at least two-thirds of allottees.
• Registration Before Launch: Projects must be registered with RERA before any launch or advertisement.
• Detailed Information: Builders must provide project plans, layouts, government approvals, land title status, and subcontractor details.
• Timely Completion: Emphasis on timely completion and delivery of projects.
• Construction Quality: Ensuring high construction quality with a five-year defect liability period.

Additional Tips for Home Buyers

• Verify Builder Credentials: Research the builder’s history and credibility.
• Read Reviews: Look for feedback from previous buyers.
• Check Legal Documents: Ensure all legal documentation is verified by a legal expert.
• Stay Updated: Regularly visit the RERA website for updates on regulations and project statuses.

Conclusion

RERA has significantly improved transparency and accountability in the real estate sector. Understanding how to check RERA status and approval empowers home buyers to make informed decisions, ensuring their investments are safe. Always perform due diligence and utilize the resources provided by RERA for a secure real estate transaction. For any query, feel free to contact our home loan experts.

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