The Real Estate (Regulation and Development) Act, 2016, commonly known as RERA, has been a landmark legislation in Indian real estate. Here's how it protects buyers in Chhattisgarh.
Key Provisions
Mandatory Registration
All commercial and residential projects with plots above 500 sq. meters must be registered with RERA before advertising or selling.
Transparency
Developers must disclose project layouts, government approvals, land title status, and completion timelines on the RERA website.
Advance Payment Protection
Developers cannot demand more than 10% of the property cost as advance without a written agreement.
Quality Assurance
Builders are liable for structural defects for up to 5 years after possession, ensuring quality construction.
How to Verify a Project
1. Visit the Chhattisgarh RERA website
2. Search by project name or developer
3. Check registration validity and project details
4. Verify the approved plan matches what's being sold
Conclusion
RERA has brought much-needed transparency and accountability to the real estate sector. Always verify RERA registration before making any property purchase.