What is RERA and why is it important when buying property?
What is RERA?
RERA stands for Real Estate (Regulation and Development) Act, 2016, a law introduced by the Government of India to regulate the real estate sector.
- It makes it mandatory for builders and developers to register their housing/commercial projects with the respective state authority before advertising or selling.
- In Maharashtra (including Nagpur), this is managed by MahaRERA (Maharashtra Real Estate Regulatory Authority).
Why is RERA Important When Buying Property?
- Protects Buyers from Fraud
- Only legally approved projects can be sold.
- Fake or illegal layouts get blocked.
- Transparency
- Builders must share details like approvals, layout plans, completion date, and financials on the RERA website.
- Buyers can verify these before purchase.
- Timely Possession
- If a builder delays the project, buyers can claim refunds, compensation, or interest.
- Standardization
- Carpet area definition is standardized, no more inflated super built-up area tricks.
- Legal Protection
- Buyers can file complaints with RERA if builders don’t deliver as promised.
✅ In short: RERA makes property buying in Nagpur safer, more transparent, and legally secure. It protects you from delays, fraud, and false promises, while ensuring your investment is safeguarded.
