The Real Estate (Regulation and Development) Act, enacted in 2016, created a state-level regulator for residential and commercial projects. Its purpose is to bring disclosure and accountability to a market that long operated on trust alone.
What the Act requires
- Projects above a defined size must register with the state RERA authority before they are advertised or sold.
- Builders must publish project details, approvals, and timelines on the state portal.
- Buyer funds collected for a project must largely be held in a dedicated account and used for that project.
- Sales must be made on carpet area, not super built-up area.
Where buyers can seek redress
If a builder delays delivery or deviates from disclosed plans, a buyer can file a complaint with the state RERA authority. The authority can order refunds, interest on delay, or completion.
The limits
RERA improves disclosure, but it does not certify that a builder will perform. Registration is a baseline, not a guarantee. A buyer should still verify the RERA number on the state portal, read the disclosed timeline, and confirm the Occupancy Certificate before taking possession.