15 Feb 2025 / Subhashish Homes
Buying a home is not just a financial decision; it is an emotional investment. For many, it’s a once-in-a-lifetime achievement, built with years of savings and aspirations. However, before the introduction of the Real Estate (Regulation and Development) Act (RERA) in 2016, homebuyers often found themselves in difficult situations. Delayed projects, misleading advertisements, lack of legal recourse, and financial uncertainty were common problems. Many buyers faced long waits for possession or ended up with homes that did not match the promised specifications.
To tackle these challenges and bring much-needed transparency, the Government of India implemented RERA, a landmark law designed to regulate the real estate sector and protect homebuyers. This act has created a fair playing field where developers are accountable for their commitments, and buyers are empowered with rights and information.
RERA has transformed the way real estate transactions take place, ensuring timely delivery, financial security, and transparency. It has not only instilled confidence in homebuyers but also encouraged developers to uphold ethical business practices. In this article, we will explore how RERA protects homebuyers and why it is a game-changer in the real estate industry.
Before RERA, homebuyers had little access to project details, approvals, or progress updates. Many developers marketed projects with exaggerated claims, showing fancy brochures and sample flats that looked nothing like the final product. Hidden charges, sudden price hikes, and unclear terms left buyers feeling trapped.
With RERA, developers must register all residential projects with the respective state RERA authority before advertising or selling. They must provide clear, verified information on:
This information is publicly available on the official RERA website, allowing homebuyers to make informed decisions. Developers can no longer make false promises or mislead buyers, making the real estate process far more transparent and fair.
A Must-Read: Real Estate as an Investment: Why Property is Still the Best Long-Term Asset
One of the most frustrating issues for homebuyers was project delays. Many developers would take advances from buyers but fail to complete projects on time, causing financial strain and emotional stress. Buyers had to continue paying rent and home loan EMIs simultaneously, with no clarity on when their home would be ready.
Under RERA, developers must specify an expected completion date and strictly adhere to the timeline. If a project is delayed, developers are liable to pay compensation to buyers for every month of delay. This clause ensures that developers plan their projects realistically and focus on timely execution.
Additionally, 70% of the funds collected from buyers must be deposited in a dedicated escrow account and used only for that specific project. This prevents developers from diverting funds to other ventures, reducing financial mismanagement and ensuring that homes are delivered as promised.
Many homebuyers have experienced situations where developers suddenly increased property prices or introduced unexpected charges after the booking process. Others have found that their dream home lacks key amenities that were initially promised.
RERA protects buyers from such unfair practices by enforcing strict contract terms. Any changes in project specifications, pricing, or layout must be approved by at least 2/3rd of homebuyers. Developers cannot make arbitrary alterations that affect the buyer’s investment.
Additionally, RERA mandates that the carpet area (actual usable space inside the home) must be clearly defined. Earlier, many developers misled buyers by mentioning “super built-up area,” which included common spaces like lifts and corridors, making the home appear larger on paper. With RERA, homebuyers now get exactly what they pay for.
Before RERA, homebuyers had limited legal options if they faced issues with a developer. The complaint process was long, complicated, and often favored the builder. With RERA, buyers now have a dedicated legal platform to address grievances quickly and effectively.
Every state has a RERA tribunal, where homebuyers can file complaints against developers who violate regulations. These cases are resolved within a fixed timeline, ensuring swift justice. If a developer does not comply with the orders of RERA, they can face hefty fines, project bans, or even imprisonment.
For homebuyers, this means a sense of security—knowing that there is a regulatory body watching over their rights and ensuring that developers stick to their commitments.
Don’t Miss: Gated Communities vs. Standalone Homes: Which Offers a Better Lifestyle?
Imagine moving into a new home only to find plumbing leaks, electrical faults, or structural cracks. Earlier, once possession was taken, homebuyers had little recourse if they discovered defects in their property.
Under RERA, developers are now legally required to fix any structural defects or quality issues that arise within five years of possession—at no extra cost to the buyer. This ensures that homebuyers get a home that is built to last, with quality materials and proper finishing.
Developers are now more accountable for construction quality, as they cannot escape responsibility once the home is handed over. This has led to a significant improvement in overall real estate standards.
For most people, buying a home involves a significant financial commitment, often requiring home loans and long-term investments. RERA ensures that homebuyers are financially protected by:
These safeguards make buying a home less risky and more secure, allowing homebuyers to invest with confidence.
At Shubhashish Homes, we firmly believe that a home is not just a structure—it’s a foundation for happiness, security, and future growth. That’s why we fully adhere to RERA guidelines to ensure that every homebuyer’s journey is smooth, transparent, and worry-free.
We register all our projects with RERA, ensuring that buyers have complete access to project details, timelines, and legal approvals. Our commitment to timely delivery ensures that homebuyers never have to face unnecessary delays or financial uncertainty.
Additionally, our high construction quality and ethical practices align perfectly with RERA’s vision of a fair and accountable real estate sector. Every home at Shubhashish Homes is built with precision, keeping long-term durability in mind. And even after possession, we stand by our promise of post-delivery support, resolving any quality concerns within the RERA-mandated five-year period.
Buying a home should be a joyful experience, not a stressful one. With Shubhashish Homes, homebuyers can rest assured that they are investing in a RERA-compliant, legally secure, and ethically built home that truly delivers on its promises.
The introduction of RERA has revolutionized the real estate sector, giving homebuyers the protection they always deserved. From ensuring transparency and timely project completion to holding developers accountable and enforcing strict quality standards, RERA has made homebuying a safer and more reliable process.
As a homebuyer, it is crucial to always check a project’s RERA registration before making any commitments. A RERA-compliant luxury home in Jaipur is a secure investment, ensuring peace of mind and financial protection.
At Shubhashish Homes, we stand by these values, ensuring that every homebuyer experiences a journey that is fair, transparent, and truly fulfilling. Your dream home should not just be beautiful—it should also be built on a foundation of trust and security, and that’s exactly what we strive to provide.
Enquiry
Call
Whatsapp
Contact us