RERA Compliance
Your protection is our priority. All our projects are fully compliant with the Real Estate (Regulation and Development) Act, 2016.
What is RERA?
The Real Estate (Regulation and Development) Act, 2016 (RERA) is a landmark legislation enacted by the Parliament of India to protect homebuyers and boost investments in the Indian real estate sector. RERA establishes Real Estate Regulatory Authorities in each state to regulate and promote the real estate sector in a fair and transparent manner.
Key Objectives of RERA
Protect Homebuyers
Establish transparency and accountability in real estate transactions, ensuring buyers' interests are protected.
Promote Transparency
Ensure full disclosure of project information, including approvals, timelines, and carpet area calculations.
Ensure Timely Delivery
Hold developers accountable for project completion timelines and impose penalties for delays.
Establish Fair Practices
Create standardized agreements, regulate advertising, and establish dispute resolution mechanisms.
Our Commitment to RERA Compliance
At Ajit J Gupta and Associates, we are fully committed to RERA compliance across all our projects. We believe that RERA brings much-needed transparency and accountability to the real estate sector, benefiting both developers and homebuyers.
Every project we undertake is registered with MahaRERA (Maharashtra Real Estate Regulatory Authority) before marketing or selling. We ensure complete adherence to all RERA guidelines and regulations.
How RERA Protects You
1. Mandatory Project Registration
All projects with plot area exceeding 500 sq.m. or having more than 8 units must be registered with RERA before advertising or selling.
2. Standardized Carpet Area Definition
RERA mandates selling properties based on carpet area (net usable floor area), not built-up or super built-up area, ensuring transparency.
3. Escrow Account for Funds
70% of funds collected from buyers must be deposited in a separate escrow account to be used only for construction and land costs of that specific project.
4. Defect Liability Period
Developers are liable to rectify structural defects for a period of 5 years from possession, and other defects for 2 years.
5. Penalty for Delays
If possession is delayed, developers must pay interest at the prescribed rate to buyers. Similarly, buyers are liable for interest on delayed payments.
6. Quick Dispute Resolution
RERA provides a fast-track dispute resolution mechanism through the Real Estate Appellate Tribunal, with decisions typically within 60 days.
7. Transparent Project Information
Complete project details, including approvals, timelines, layout plans, and progress updates, must be disclosed on the RERA website.
How to Verify RERA Registration
Before investing in any real estate project, we encourage you to verify its RERA registration status:
- Step 1: Visit the official MahaRERA website: maharerait.mahaonline.gov.in
- Step 2: Click on "Registered Projects" or "Search Projects"
- Step 3: Enter the RERA registration number or project name
- Step 4: View complete project details, including approvals, timelines, and developer information
💡 Pro Tip: All RERA registration numbers are displayed prominently on our project pages. We encourage you to verify this information independently.
RERA Documents Available
For each registered project, the following documents are available for buyer review:
Have Questions About RERA Compliance?
Our team is here to help you understand RERA regulations and how they protect your investment. Feel free to reach out with any queries.