How RERA Secures Your Property Purchase – A Clear Guide to Homebuyer Rights and Benefits
Learn how RERA protects homebuyers from delays, fraud, and poor quality. Understand your legal rights before buying property.
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Buying a home is a dream for many. But before the Real Estate (Regulation and Development) Act (RERA) came into force, many homebuyers were caught in delays, frauds, and disputes. Builders often failed to deliver on promises, and buyers had limited protection. That’s why RERA is such a crucial step forward.
This blog explains how RERA benefits homebuyers, especially in 2024, and what you must know before investing your hard-earned money in property.
What is RERA?
RERA is a law passed by the government to regulate the real estate sector. It brings more transparency, accountability, and safety to property transactions. Builders and developers must now follow strict rules regarding approvals, construction timelines, financial usage, and information disclosure.
With RERA, homebuyers now have the legal right to know what they are buying, when they will receive it, and how their money will be used.
Explore legally verified, RERA-registered property listings curated for safe homebuying – View listings here.
Key Benefits of RERA for Homebuyers
1. Projects Must Be Registered Before Sale
Builders cannot advertise or sell any residential project without registering it under RERA. Every detail about the project must be submitted to the RERA authority before launch.
This means homebuyers can verify whether the project is approved, legal, and progressing as claimed.
2. Limited Advance Payment
Under RERA, a builder cannot collect more than 10% of the property's cost as advance before a registered sale agreement is signed. This protects buyers from losing large sums at early stages.
3. Legally Enforced Possession Deadlines
Developers are now required to commit to a clear timeline for completion and handover. If there is a delay, the buyer is entitled to compensation or a refund with interest.
This ensures the buyer is not kept waiting for months or years.
4. Five-Year Construction Quality Guarantee
If the buyer finds structural defects, leakage, or poor-quality construction within five years of taking possession, the builder must repair it without charging anything.
This protects buyers from unexpected repair expenses.
5. Transparent Pricing and No Hidden Charges
RERA requires builders to disclose the full cost of the property, including parking, maintenance, registration charges, and taxes. Buyers know exactly how much they need to pay without any surprise costs later.
6. Clear Legal Documents and Agreements
The builder is required to sign a fair agreement with the buyer. Any change to the agreement terms must be approved by both parties. This prevents unfair terms being added later.
7. Easy Online Complaint Mechanism
If the buyer faces a problem such as a delay, poor construction, or false promises, they can file a complaint directly with the RERA authority online. This offers a fast and effective legal route for resolving issues.
8. Verified Project and Builder Details
Each RERA-registered project is listed on the respective state’s RERA website with full details. Buyers can verify land titles, project approvals, layout plans, progress reports, and complaint history of the builder.
Real-World Example: How RERA Helped a Buyer
A homebuyer in Chennai booked a 2BHK flat in a RERA-registered project in 2021. The builder delayed the project by eight months. After filing a complaint on the Tamil Nadu RERA portal, the buyer received compensation as per the law. This would not have been possible before RERA.
What Should You Do Before Booking a Property?
- Check if the project is registered on the state’s RERA website.
- Read the builder-buyer agreement carefully.
- Ensure the payment schedule matches construction stages.
- Do not pay more than 10% advance before signing.
- Keep all communication and receipts documented.
Why RERA is Even More Important in 2024
With new amendments and stricter rules in 2024, RERA now enforces tighter project timelines, higher penalties for violations, and stronger consumer protection. It has become more difficult for builders to delay projects or misuse buyer funds.
This means your investment is now safer than before.
Final Thoughts
The RERA Act is one of the most significant reforms in the real estate sector. It protects homebuyers by ensuring that builders are accountable, projects are legally approved, and the buying process is fair and transparent.
Whether you are buying a flat, an independent house, or a plot, always check the RERA registration first. Knowing your rights can save you from future trouble.
Explore verified, RERA-compliant properties carefully. Make sure your home investment is backed by law, trust, and transparency.
Frequently Asked Questions (FAQ)
1: Is RERA applicable to all real estate projects?
RERA is applicable to all residential and commercial real estate projects above 500 sq. m or more than 8 units. Smaller projects may not require registration.
2: How do I check if a project is RERA-registered?
Visit your state’s official RERA website. For Tamil Nadu, go to www.rera.tn.gov.in and search using the project name or builder’s name.
3: What happens if the builder violates RERA rules?
You can file a complaint online through the RERA portal. If the builder is found guilty, they may be penalized or ordered to compensate the buyer.
4: Does RERA apply to ongoing projects?
Yes. If a project was ongoing at the time RERA came into effect and had not received completion certificate, it must be registered.
5: Can I get my money back if the project is cancelled?
Yes. If the project is cancelled or the builder fails to deliver, RERA allows buyers to claim a full refund with interest.
