Detailed Information About RERA Registration
The Real Estate Regulatory Authority (RERA) is a premier regulatory institution aimed at overseeing the operations of the real estate sector in India, safeguarding the interests of property buyers and investors. Established on May 1, 2016, following the enactment of the Real Estate (Regulation and Development) Act, 2016, RERA’s primary goal is to promote transparency among real estate developers, contractors, builders, agents, brokers, and property dealers while ensuring the safety of investor funds.
Key Features of RERA Registration:
- Transparency in Real Estate Projects: The RERA Act aims to provide full transparency in real estate transactions and projects.
- Mandatory Disclosure of Project Information: Developers registered with RERA must disclose essential details, including project plans, layouts, and government approvals, to potential buyers.
- Effective Grievance Redressal: RERA facilitates a prompt resolution of complaints and grievances against builders, developers, and real estate agents.
- Broad Coverage: RERA registration encompasses both commercial and residential projects, with separate registrations for agents and builders.
- Enhanced Builder Credibility: RERA registration serves as a testament to the builder’s credibility, making them more appealing to buyers.
- Comprehensive Builder Information: RERA registration provides potential buyers and investors with complete details about builders and developers.