Understanding RERA: Rights of Homebuyers Under the Real Estate Regulation Act

The Real Estate (Regulation and Development) Act, 2016 (RERA), was enacted to protect the interests of homebuyers and promote transparency in the real estate sector. Disputes under RERA form a critical part of modern real estate and property law in India. This article provides a general overview of the key provisions relevant to homebuyers.

Registration Requirement

Under RERA, every real estate project exceeding 500 square metres or involving more than eight apartments must be registered with the state Real Estate Regulatory Authority before advertising or selling. This ensures transparency and accountability.

Rights of Homebuyers

Right to Information Homebuyers have the right to access information about the project, including approved plans, layout plans, completion timeline, and the status of regulatory approvals.

Right to Timely Possession Developers are obligated to deliver possession of the property as per the agreed timeline. In case of delay, the buyer is entitled to compensation at the prescribed rate of interest.

Right to Refund If the developer fails to deliver possession on time or if there are structural defects in the building, the buyer has the right to withdraw from the project and obtain a refund with interest.

Right to Quality Construction Developers are responsible for structural defects or deficiencies in workmanship for a period of five years from the date of possession.

Filing a Complaint

Complaints can be filed before the Real Estate Regulatory Authority of the respective state. Appeals lie before the Real Estate Appellate Tribunal.

Disclaimer

This article provides general educational information about RERA. The specific rights and remedies may vary based on state-level RERA rules and the facts of individual cases. Please consult a qualified legal professional for advice on your specific matter.