by 99Realty 
Are you thinking about buying a new home? It’s an exciting time, but it’s essential to know your rights and protections as a buyer. That’s where RERA comes in! RERA stands for Real Estate Regulatory Authority, and it’s a set of rules and regulations designed to safeguard home buyers like you. Here’s a simple checklist to consider when buying a new home under RERA:
Check RERA Registration: Make sure the project and the developer are registered under RERA. This ensures that the project complies with all legal requirements and protects you from fraudulent practices.
Verify Project Details: Take a close look at the project details provided by the developer, such as the layout plan, floor plans, and amenities. Ensure that the information matches what was promised to you.
Understand Carpet Area: Pay attention to the carpet area of the property, which is the actual usable area within the walls. RERA mandates that developers advertise properties based on the carpet area to prevent misleading marketing tactics.
Know the Payment Schedule: Understand the payment schedule and ensure that it aligns with the progress of the construction. RERA prohibits developers from demanding more than 10% of the total cost as an advance payment without entering into a registered agreement for sale.
Check Completion Timeline: Verify the promised completion timeline of the project. RERA requires developers to register the timeline for completion and adhere to it, ensuring that you receive your home on time.
Learn about Defect Liability: Understand the defect liability period, which is the timeframe during which the developer is responsible for addressing any structural or workmanship defects in the property after possession.
Review Sale Agreement: Carefully review the sale agreement before signing it. Ensure that all terms and conditions are fair and in compliance with RERA guidelines.
Know Your Rights: Familiarize yourself with your rights as a home buyer under RERA. You have the right to timely possession of the property, transparent information disclosure, and recourse in case of any grievances.
Also Read: Benefits of the RERA Act for Homebuyers
By following this simple RERA checklist, you can navigate the home-buying process with confidence and peace of mind. Remember, RERA is here to protect you, so don’t hesitate to exercise your rights if needed. Happy home hunting!
