Finally, Some Rules on the Playground
Let’s be honest—before 2016, buying property in India was a risky affair. Delayed handovers, changing layouts, vanishing developers—it often felt like playing a high-stakes game without knowing the rules.
Then came RERA—the Real Estate (Regulation and Development) Act, 2016—and it changed everything.
RERA was brought in to regulate the sector, protect homebuyers, and bring accountability to developers. Today, every state has its own RERA authority, and any serious real estate project must follow the law—or face the consequences.
What Does RERA Actually Do (Besides Sounding Impressive)?
A lot. Here’s how RERA changed the rules of the game:
- Developers must register their projects before selling or even advertising. No registration? No sales.
- 70% of buyers’ money must be kept in a separate bank account and used only for that specific project. A builder’s dream of using your money to build someone else’s home? Over.
- Builders must stick to their timelines. If they don’t, they owe you interest for the delay. Yes, the builder pays you.
- You get real-time access to project details like approvals, layouts, and completion status on the RERA website.
- No more 40-page sale agreements filled with legal gymnastics—RERA introduced standardised formats that actually make sense.
- Got a grievance? RERA tribunals aim to resolve complaints within 60 days. No more legal limbo.
In short, RERA brought order to chaos.
Why It Matters
For homebuyers, RERA means real protection. You get reliable information, legal backing, and clear rights.
For developers, it builds credibility. Compliant builders are winning trust—and business.
For agents, it’s time to go professional. Registration is mandatory, and transparency is the new normal.
Is It Working?
Yes. RERA hasn’t fixed every problem, but it’s a massive leap in the right direction. It’s brought structure to an unstructured space—and buyers are no longer the underdog.
So before you book your dream home, check the RERA number, read the fine print, and make sure your dream isn’t being built on empty promises.
