The Indian real estate sector has long been known for its lack of transparency, delayed projects, and disputes between builders and buyers. To tackle these issues and bring accountability to the industry, the Government of India introduced the Real Estate (Regulation and Development) Act, commonly known as RERA, in 2016. Since its implementation, RERA has proved to be a game changer for property buyers in India, offering them protection, transparency, and timely delivery of projects.

One of the major benefits of RERA is that it mandates builders to register their projects with the state RERA authority before advertising or selling. This ensures that only legal and approved projects reach the market. Additionally, builders are now required to disclose all project-related information such as layout, approvals, land status, and timeline. This transparency helps property buyers in India make more informed decisions and avoid fraudulent investments.

Another significant reform brought by RERA is the assurance of timely possession. Builders must deliver the project within the promised timeframe, or they are liable to pay interest for the delay. Furthermore, 70% of the funds collected from buyers must be deposited in a separate escrow account to be used only for the construction of that project, preventing diversion of funds to other ventures.

RERA also provides a structured grievance redressal mechanism. If buyers face issues such as false commitments, project delays, or quality concerns, they can file complaints directly with the RERA authority and expect timely resolution.

For property buyers in India, RERA instills confidence and encourages them to invest in real estate without fear of being cheated. It bridges the trust gap between developers and customers, paving the way for a more regulated and fair real estate market.

In conclusion, RERA is not just a regulatory law—it’s a foundation for trust and fairness in Indian real estate. For anyone looking to buy a home, checking for RERA registration should be the first step toward a secure investment.