Introduction:
The Real Estate (Regulation and Development) Act, 2016, commonly known as RERA, was introduced to bring transparency and accountability to India’s real estate sector. Before RERA, homebuyers often faced delays, misleading promises, and unregulated builder practices. Today, RERA is a crucial legal safeguard for property investors and homebuyers alike.
What is RERA?
RERA is a central law that mandates real estate developers to register their projects and provide key disclosures, such as timelines, financials, and project details. It empowers buyers to make informed decisions and seek timely redressal in case of violations.
Key Benefits for Homebuyers:
- Timely possession: Builders are bound by declared timelines or face penalties.
- Legal recourse: Buyers can file complaints before the RERA Authority or Appellate Tribunal.
- Financial transparency: Developers must maintain 70% of funds in a separate escrow account.
- Project verification: Registered projects come with verified legal and technical details.
How Satyo Dharma Legal Can Help:
- Project verification and due diligence before investment
- Filing complaints with RERA for possession delays or false advertising
- Litigation and appeals before RERA Tribunals and High Courts
- Representation in builder-buyer disputes
Conclusion:
RERA has reshaped the legal landscape of real estate in India. Whether you’re a first-time homebuyer or a seasoned investor, knowing your rights under RERA—and having legal support—can protect your property and peace of mind.
