RERA Compliance
RERA compliance ensures that real estate projects follow all mandatory guidelines set by the Real Estate Regulatory Authority. It builds buyer confidence, enhances transparency, and protects stakeholder interests.
Types Of RERA Compliance
RERA compliance can be divided based on activity type and regulatory requirement.
Developer Compliance
Covers registration, disclosure, and project updates.
Agent Compliance
Ensures brokers follow RERA rules and maintain valid registration.
Buyer Compliance
Protects buyer interests through verified property details.
Ongoing Project Compliance
Ensures progress reports and funds utilization updates.
Renewal Compliance
Covers annual renewals and updated documentation.
Dispute Resolution Compliance
Ensures adherence to RERA mechanisms for addressing complaints, grievances, and legal disputes between developers, agents, and buyers.
Why RERA Compliance Is Important?
Transparency in Transactions
Allotments and sales must align with declared project plans.
Legal Documentation Support
Helps maintain updated registration and approvals.
Fund Utilization Monitoring
Tracks usage of buyer payments as per RERA standards.
Quarterly Report Filing
Ensures regular compliance updates with the authority.
FAQs
What is RERA compliance?
Following all legal requirements under the Real Estate Regulatory Authority Act.
Who needs RERA compliance?
Builders, developers, and real estate agents.
What are the penalties for non-compliance?
Heavy fines, license cancellation, or project suspension.
How often is compliance reporting needed?
Quarterly or as directed by the authority.
Can RERA compliance be outsourced?
Yes, to registered consultants or legal advisors.