RERA is one of the most important rules in Indian real estate because it protects homebuyers and makes the whole buying process safer and clearer. The Real Estate Regulatory Authority (RERA) was introduced in 2016 to fix major issues in the property market such as delays, false promises, unclear plans, and misuse of funds.
It helps buyers, investors, and even builders by making the entire real estate system more transparent and fair. The RERA approval requires builders to submit master plans, apartment layouts, pricing details, timelines, and all project information. These documents are checked carefully to ensure accuracy and honesty. This gives full clarity to buyers before they invest.
The RERA Act was created to protect people from the risks involved in buying a home. Before RERA, many families faced late possession, wrong information, and extra payments that were never explained.
With the introduction of RERA in 2016, the government ensured that all real estate projects follow strict guidelines. Every approved project must share complete details, follow fixed timelines, and remain fully accountable.
A RERA-certified property is safe and trustworthy. It shows that the project is genuine and follows government rules. This gives buyers confidence when they invest their money in a home.
RERA-approved projects must reveal every detail clearly. This includes the project layout, building stages, material quality, and the expected completion date. Buyers know exactly what they are getting because nothing is hidden.
RERA makes it compulsory for developers to complete the project on time. If the builder delays the delivery, the buyer must receive compensation. This protects the buyer’s money and ensures that homes are handed over as promised.
RERA ensures that builders fix any construction problems for up to five years after handing over the home. This gives peace of mind and guarantees strong, long-lasting construction quality.
Builders must keep 70% of the buyer’s money in a separate bank account. This amount can only be used for that specific project. It prevents misuse of funds and makes sure the money is spent only on construction.
RERA gives a quick and fair way to solve disagreements between buyers and builders. The process is much faster than going to court and helps both sides reach a proper solution.
With RERA, builders must follow government construction standards. This results in safe materials, better planning, and high-quality homes that last for many years.
Godrej Parkshire is a premium residential project in East Bangalore known for its modern design and high planning standards. The project aims to offer clarity, safety, and long-term value for every homebuyer. This project stands out as one of the promising options for families looking for a well-planned community.
