Free Consultation by Expert

Many thanks to Setbharatbiz. We had an excellent experience working with its expert. They have a strong sense of professionalism when dealing with clients.

Mudassir CEO, Twinfinty DigiTech Solutions

We would recommend Setbharatbiz incorporation services to any founder without a second doubt. The process was beyond efficient and shows Setbharatbiz founder's vision

Nagasrinivas Director,Prakash Nagasrinivas & Saradhy Associates

I was searching for a company for assistance in the incorporation services. Then one of my friend tell me about Setbharatbiz and definitely the Setbharatbiz is the best.

Prakash Kakani Director, PNS EV Hub

Overview

RERA Registration for Real Estate Projects

RERA Registration (Real Estate Regulatory Authority) is a legal requirement under the Real Estate (Regulation and Development) Act, 2016 for all builders, developers, and real estate agents involved in residential or commercial projects. This registration aims to promote transparency, accountability, and efficiency in the real estate sector. It safeguards the interests of homebuyers and ensures timely project completion, creating a fair and regulated environment for real estate transactions.

Importance

1. Legal Compliance : Mandatory for all ongoing and new real estate projects exceeding 500 sq. m. or more than 8 units.

2. Buyer Protection : Ensures that funds are used solely for project development and prohibits misleading advertisements.

3. Transparency : Mandates the disclosure of project details like timelines, plans, and approvals on the RERA portal.

4. Dispute Resolution : Provides a legal platform for resolving disputes between buyers and developers.

5. Enhanced Credibility : Builds trust among buyers, increasing the developer's reputation and marketability.


Documents Required

For Builders/Developers:


For Real Estate Agents



Features

Features & Benefits of RERA Registration for Real Estate Projects

Mandatory Compliance
Applicable to all real estate projects above 500 sq. m. or 8 units.
Prev Next
Transparency in Project Details
Public access to project details on the RERA portal.
Prev Next
Dedicated Escrow Account
Ensures 70% of buyer payments are reserved for construction costs.
Prev Next
Timely Completion
Mandates project completion within specified timelines or penalties apply.
Prev Next
Buyer Refund Guarantee
Buyers can claim a refund if the developer fails to deliver the project as promised.
Prev Next

RERA Registration for Real Estate Projects

Regular Updates
Developers must update the project’s progress on the RERA portal.
Prev Next
Penalties for Non-Compliance
Developers and agents face hefty penalties for violating RERA regulations.
Prev Next
Grievance Redressal
Provides a structured platform for resolving buyer-developer disputes.
Prev Next
Boosts Market Confidence
Enhances trust in the real estate sector, attracting more buyers.
Prev Next
Renewable Registration
Registration is valid for 5 years and can be renewed.
Prev Next


Comparison with BIS Hallmark Certification

Feature RERA-Registered Projects Non-RERA Projects
Legal Compliance Fully compliant with RERA Act No legal assurance to buyers
Transparency Full disclosure of project details Limited or no information sharing
Buyer Protection Assured refunds and dispute resolution No buyer protection mechanisms
Timely Delivery Mandatory adherence to timelines Delays without penalties
Credibility Higher trust and credibility Lower buyer confidence


Frequently Asked Questions

What is RERA Registration?

RERA Registration is a legal process under the Real Estate (Regulation and Development) Act, 2016, mandating developers and agents to register their projects or services to ensure transparency and accountability.

Who needs to register under RERA?

Developers of projects exceeding 500 sq. m. or more than 8 units and all real estate agents involved in selling or marketing these projects.

What is the validity of RERA Registration?

The registration is valid for the duration of the project or 5 years (for agents), whichever comes first.

What happens if a project is not RERA registered?

Non-registered projects cannot be marketed or sold, and developers may face legal penalties.

Are ongoing projects required to register under RERA?

Yes, ongoing projects that meet the criteria must register unless they have received their completion certificate before the RERA Act came into effect.

How does RERA protect homebuyers?

RERA ensures timely delivery, transparency in project details, and access to a grievance redressal system.

What is an escrow account under RERA?

Developers must deposit 70% of buyer funds into an escrow account, ensuring the funds are used solely for the project.

Can RERA registration be renewed?

Yes, developers and agents can renew their registration by submitting a renewal application.

What is the penalty for non-compliance with RERA?

Penalties include fines up to 10% of the project cost, imprisonment, or both.

Is RERA applicable to all states in India?

Yes, but each state has its own RERA authority and rules for implementation.

RERA

Overview

RERA Registration for Real Estate Projects

RERA Registration (Real Estate Regulatory Authority) is a legal requirement under the Real Estate (Regulation and Development) Act, 2016 for all builders, developers, and real estate agents involved in residential or commercial projects. This registration aims to promote transparency, accountability, and efficiency in the real estate sector. It safeguards the interests of homebuyers and ensures timely project completion, creating a fair and regulated environment for real estate transactions.

Importance

1. Legal Compliance : Mandatory for all ongoing and new real estate projects exceeding 500 sq. m. or more than 8 units.

2. Buyer Protection : Ensures that funds are used solely for project development and prohibits misleading advertisements.

3. Transparency : Mandates the disclosure of project details like timelines, plans, and approvals on the RERA portal.

4. Dispute Resolution : Provides a legal platform for resolving disputes between buyers and developers.

5. Enhanced Credibility : Builds trust among buyers, increasing the developer's reputation and marketability.


Documents Required

For Foreign Nationals


For Real Estate Agents



Features

Features & Benefits of RERA Registration for Real Estate Projects .

Mandatory Compliance

Applicable to all real estate projects above 500 sq. m. or 8 units.

Transparency in Project Details

Public access to project details on the RERA portal.

Dedicated Escrow Account

Ensures 70% of buyer payments are reserved for construction costs.

Timely Completion

Mandates project completion within specified timelines or penalties apply.

Buyer Refund Guarantee

Buyers can claim a refund if the developer fails to deliver the project as promised.

Regular Updates

Developers must update the project’s progress on the RERA portal.

Penalties for Non-Compliance

Developers and agents face hefty penalties for violating RERA regulations.

Grievance Redressal

Provides a structured platform for resolving buyer-developer disputes.

Boosts Market Confidence

Enhances trust in the real estate sector, attracting more buyers.

Renewable Registration

Registration is valid for 5 years and can be renewed.



Comparison Between RERA and Non-RERA Projects

Feature RERA-Registered Projects Non-RERA Projects
Legal Compliance Fully compliant with RERA Act No legal assurance to buyers
Transparency Full disclosure of project details Limited or no information sharing
Buyer Protection Assured refunds and dispute resolution No buyer protection mechanisms
Timely Delivery Mandatory adherence to timelines Delays without penalties
Credibility Higher trust and credibility Lower buyer confidence


Frequently Asked Questions

What is RERA Registration?

RERA Registration is a legal process under the Real Estate (Regulation and Development) Act, 2016, mandating developers and agents to register their projects or services to ensure transparency and accountability.

Who needs to register under RERA?

Developers of projects exceeding 500 sq. m. or more than 8 units and all real estate agents involved in selling or marketing these projects.

What is the validity of RERA Registration?

The registration is valid for the duration of the project or 5 years (for agents), whichever comes first.

What happens if a project is not RERA registered?

Non-registered projects cannot be marketed or sold, and developers may face legal penalties.

Are ongoing projects required to register under RERA?

Yes, ongoing projects that meet the criteria must register unless they have received their completion certificate before the RERA Act came into effect.

How does RERA protect homebuyers?

RERA ensures timely delivery, transparency in project details, and access to a grievance redressal system.

What is an escrow account under RERA?

Developers must deposit 70% of buyer funds into an escrow account, ensuring the funds are used solely for the project.

Can RERA registration be renewed?

Yes, developers and agents can renew their registration by submitting a renewal application.

What is the penalty for non-compliance with RERA?

Penalties include fines up to 10% of the project cost, imprisonment, or both.

Is RERA applicable to all states in India?

Yes, but each state has its own RERA authority and rules for implementation.

Related Services