What is RERA?

The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016), or RERA, was established to regulate and promote the real estate sector in India. Its stated objective is to ensure the efficient and transparent sale of real estate projects, including plots, apartments, and buildings, while protecting the interests of consumers. RERA aims to achieve this by establishing:

  • a Real Estate Regulatory Authority
  • an adjudicating mechanism for speedy dispute redressal
  • an Appellate Tribunal to address appeals from the decisions of both the Regulatory Authority and the adjudicating officer

Key Provisions of RERA

RERA mandates that all real estate projects, with certain exceptions, be registered with the Real Estate Regulatory Authority. This registration requirement applies to projects within planned areas, as defined by the Act. Developers, referred to as “promoters” under RERA, are obligated to disclose comprehensive project details to both the Authority and potential buyers. This includes information such as:

  • project plans and specifications
  • a schedule of completion
  • details of approvals obtained from competent authorities

Establishment and Enforcement of RERA

While the Act was enacted on March 25, 2016, it came into force on May 1, 2016. Different provisions of the Act were enforced on different dates, with the remaining sections coming into effect on May 1, 2017. RERA applies to the entirety of India, except for the state of Jammu and Kashmir. The Act empowers the Regulatory Authority to impose penalties on promoters, allottees (buyers), and real estate agents for non-compliance. These penalties can be both financial and, in certain cases, may involve imprisonment.

RERA represents a significant step towards bringing transparency and accountability to the real estate sector in India. It aims to protect the interests of homebuyers by ensuring that projects are completed on time and as promised, while also promoting the overall growth and development of the sector.

About ReraX

Welcome to ReraX, where we transform the complex landscape of Indian real estate into an accessible and user-friendly experience. Our platform is dedicated to indexing and presenting real estate project details meticulously maintained by the Indian Real Estate Regulatory Authorities (RERA).

At ReraX, we understand the inherent complexities of navigating the real estate market, especially in a dynamic and diverse country like India. With regulations evolving and projects proliferating, staying informed can be overwhelming. That’s where we step in.

Our mission is simple: to provide clarity and transparency to all stakeholders involved in the real estate sector. We meticulously curate and update data from RERA on a regular basis, ensuring that our users have access to the most accurate and up-to-date information available.

But we don’t stop there. We go a step further by presenting this data in a format that is not only comprehensive but also incredibly intuitive and user-friendly. Imagine scrolling through your favorite social media feed – that’s the experience we aim to replicate. With our innovative approach, we make navigating through real estate projects as effortless as browsing through your favorite posts online.

Our tagline, “RERA through Social Glasses,” encapsulates our ethos perfectly. We believe in viewing regulatory data through a lens of accessibility and engagement, making it as easy to comprehend as your daily social media updates.

Whether you’re a prospective buyer, a developer, or a real estate enthusiast, ReraX is your go-to destination for demystifying the Indian real estate market. Join us on this journey as we revolutionize the way you interact with RERA data, one user-friendly interface at a time.  

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