RERA Rules & Regulations

RERA stands for the Real Estate Regulatory Authority. It is a government body established to regulate the real estate sector and protect the interests of homebuyers. RERA ensures transparency, accountability, and timely completion of real estate projects.

• Project Delays: If a project is delayed, the builder must pay interest to the buyer.
• False Advertising: Developers cannot advertise or sell projects without RERA registration and cannot make false claim about amenities, R.G. area etc.
• Refund Policy: If a developer fails to deliver the project on time, buyers are entitled to a full refund with interest. Similarly, homebuyer also must pay interest for delaying payment.

Yes, while the central RERA Act provides a framework, each state has its own RERA rules and regulations. For example, Maharashtra has MahaRERA, and Karnataka has Karnataka RERA.

The Builders faces penalty for repeated offences and prosecution.

Yes, homebuyers can file a complaint with their state's RERA authority if they face issues like project delays, false promises, or unfair practices by developers.

You can verify a project's RERA registration by visiting your state's RERA website and entering the projects registration number or the developer's name.

• Project Registration: All real estate projects must be registered with RERA.
• Timely Delivery: Builders must complete projects on time as promised in the agreement.
• Transparency: Developers must provide accurate details about the project, including approvals, layout, and completion schedules.
• Escrow Account: 70% of the funds collected from buyers must be deposited in a separate escrow account to ensure funds are used only for the project.

• Maintenance Charges Shall be collected separately as and by way of deposit on estimated basis and Developer shall accounted for the same.
• Handover to Co-operative Society: After the project is completed, the builder must hand over the maintenance responsibilities to the Co-operative Society.
• Transparency: Builders must provide a detailed breakdown of maintenance charges and ensure they are reasonable and justifiable.

Maintenance charges are usually calculated based on:

• Per Square Foot Rate: Charges are often levied based on the carpet area or super area of the apartment.
• Flat Rate: Some societies may charge a fixed amount for all units, regardless of size.
• Usage-Based Charges: For utilities like water and electricity, charges may be based on actual usage.

Once the project is completed and the Co-operative Society is formed, the responsibility for deciding maintenance charges shifts to the Society. The Society, comprising elected representatives from the residents, determines the charges based on:

• Actual expenses for maintaining the property.
• Future repair and maintenance needs.
• Reserve funds for emergencies.

Yes, builders can collect advance maintenance fees and deposit towards the same, but these must be reasonable and clearly communicated to buyers. The advance fees are typically used to cover initial maintenance costs until the society takes over. This is to ensure proper maintenance.

You can download the official RERA rules and regulations in PDF format from the official RERA website of your state. For Maharashtra, visit [MahaRERA].