The Real Estate (Regulation and Development) Act, commonly known as RERA, was introduced to bring transparency, accountability, and fairness to the Indian real estate sector. Before RERA, buyers often faced delayed possession, lack of project clarity, and misleading information.
RERA mandates that all eligible real estate projects and agents must be registered with the regulatory authority. This ensures that only approved and legally compliant projects are marketed to buyers.
Key Benefits of RERA
- Mandatory project registration
- Timely project delivery
- Defined carpet area norms
- Escrow accounts for project funds
- Legal grievance redressal
Transparency & Buyer Safety
Under RERA, developers must disclose project approvals, layout plans, timelines, and financial details. Any delay can result in penalties, offering strong protection to buyers and investors.
Impact on Investors
RERA has improved market credibility and reduced risks. Investors now prefer RERA-registered projects, making compliant developments more attractive for resale and rental demand.
Conclusion
RERA has transformed Indian real estate into a safer, more structured, and investor-friendly market. For buyers in cities like Gurgaon, it has significantly reduced risk and improved trust.