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RERA – FAQs

Real estate transactions involve significant investments, and transparency is crucial. The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced to protect the interests of homebuyers and bring accountability to the real estate sector.

At Land & Storeys, we ensure that our clients deal with RERA-compliant projects and make informed decisions.

Here are some commonly asked questions about RERA:

1. What is RERA?

RERA stands for the Real Estate (Regulation and Development) Act, 2016, a law introduced by the Government of India to regulate the real estate sector and protect homebuyers.

It aims to:

  • Increase transparency
  • Ensure timely project delivery
  • Prevent fraud and delays
  • Establish a dispute resolution mechanism

Before RERA, buyers often faced:

  • Project delays
  • Lack of transparency
  • Misleading advertisements
  • Unfair practices by developers

RERA was introduced to bring accountability, fairness, and trust into the real estate market.

Yes, RERA is applicable across India, but each state has its own regulatory authority.

For properties in NCR:

  • Haryana RERA (HRERA) covers Gurgaon and Faridabad
  • Each project must be registered under the respective state authority

A RERA registration number is a unique ID assigned to a real estate project or agent upon registration.

It allows buyers to:

  • Verify project authenticity
  • Check project details and approvals
  • Track construction progress

Yes, most residential and commercial projects must be registered under RERA, except:

  • Projects with land area below a specified limit
  • Projects with a limited number of units
  • Completed projects before RERA implementation

You can verify a project by:

  • Visiting the official RERA website of the respective state
  • Entering the project name or registration number

At Land & Storeys, we assist you in verifying all project details before you invest.

RERA provides several advantages, including:

  • Transparency in project details
  • Timely delivery of projects
  • Protection against false promises
  • Standardized carpet area definition
  • Legal protection and grievance redressal

Carpet area refers to the actual usable area inside the property, excluding:

  • External walls
  • Balconies
  • Common areas

RERA mandates developers to sell properties based on carpet area, ensuring clarity for buyers.

Under RERA:

  • The builder must compensate the buyer with interest for delays
  • Buyers can choose to withdraw and claim a full refund
  • Buyers can also continue and receive compensation

No, under RERA:

  • Builders cannot make major changes without the buyer’s consent
  • Any structural or layout changes require approval from buyers

At Land & Storeys, we ensure:

  • You are introduced to RERA-registered projects
  • All property details are verified
  • Complete transparency in every deal
  • Guidance on legal compliance

We prioritize your safety and trust in every transaction.

Yes, real estate agents must be registered under RERA to legally facilitate property transactions.

Working with a compliant agent ensures:

  • Ethical practices
  • Verified listings
  • Legal protection

Important documents include:

  • RERA registration certificate
  • Approved building plan
  • Title deed
  • Land ownership documents
  • Completion or occupancy certificate (if applicable)

Our team helps you verify all documents before finalizing your purchase.

Yes, buyers can file complaints with the RERA authority in case of:

  • Project delays
  • Misleading information
  • Unfair practices

RERA provides a structured and time-bound grievance redressal system.

Under RERA:

  • Developers must deposit 70% of project funds into a separate escrow account
  • Funds can only be used for construction and land costs

This ensures that your money is used responsibly and reduces project delays.

RERA primarily applies to new and ongoing projects.

However:

  • Resale transactions may not always fall under RERA
  • It is still important to verify legal documents and ownership

We assist you with complete due diligence even for resale properties.

RERA mandates developers to disclose:

  • Project details
  • Construction status
  • Approvals and permissions
  • Completion timelines

This information is publicly available, allowing buyers to make informed decisions.

Because we offer:

  • Verified RERA-approved projects
  • Transparent and honest guidance
  • Expert consultation
  • End-to-end support

We ensure your investment is safe, secure, and legally compliant.

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