The Real Estate Regulatory Authority (RERA) was brought into force in India on 1st May 2016. It aims to facilitate transparency and address the concerns of homebuyers, builders, brokers, and other stakeholders in the real estate industry.
With RERA in place, every real estate developer is required by law to inform homebuyers about the progress and overall status of the project. It also binds the developer to deliver the property in a timely manner and abide by all the other rules outlined by RERA to enforce accountability on the part of the developer.
The severe penalty clauses combined with the growing awareness among homebuyers have effectively eliminated most of the unscrupulous players from the market, leaving only reliable developers with a proven track record to drive the market, both organically and via consolidation. Checking the details of the developers and their projects is crucial so that there is more transparency about a developer’s promoters, lenders, financers, etc. It is also equally important to understand clear details of the project layout, the approved plan, carpet area, support infrastructure and more so that you can make an informed choice and there is little room for errors.
This article outlines how to check the RERA details of a project that catch your eye.
How to Check RERA Registered Projects Details Online?
Let’s say you are looking for new projects in Mumbai, Bangalore, or any other city. You can follow this simple procedure to get the relevant details:
A Quick Look at the Details Displayed on RERA
Here are the various particulars of a real estate developer that you can check on the RERA website of the relevant state.
Organization
Under this section, you can view the name and contact details of a particular real estate development organization, along with comprehensive information about their previous projects in the last five years. This section has information on the organization’s type and its official website.
Past Experience Details
This section sheds light on the previous work experience of the important office holders of an organization, including authorized signatories. Such information enables potential homebuyers to check the past body of work created by the aforementioned people.
Project
Under the section titled ‘Project’, you can check the details of a specific project that is in development or has been entirely developed by a particular real estate developer. This comprises the following details about a particular project.
- Project Name
- Project Address
- Project Status
- Proposed Date of Completion for the project
- Litigations related To the project (if any)
- Project Type (Residential or Commercial)
- The existence of any promoter (Land Owner or Investor) in the project as defined by MahaRERA order
- Plot Bearing Number/ Final Plot Number
- The latitudes and longitudes of all the boundaries of the project
- Project State/ Union Territory, Division, District, Taluka, Village, Street, Locality, and Pin Code
- Project Area (in square metres)
- Total Building Count in the project
- Proposed building count in the project (which is yet to be sanctioned)
- Aggregate Area of Recreational Open Space in the Project (in square metres)
FSI Details
This section is focused on the description of the Floor Space Index of a particular project, including:
- Proposed but not sanctioned Built-up area (in square metres)
- Approved Built-up area (in square metres)
- Total FSI for the project
Bank Details
Under the section named ‘Bank Details’, you can check the important banking information of a particular real estate developer, including:
- Bank Name
- Branch IFSC Code
If you are curious about the total amount of money that has been collected for the project and the total amount used thus far for development, this section will enable you to do that, too. Furthermore, you can also find out how much balance the developer has left.
Project Details
In this section, you can check the following project details:
- Number of Garages (Proposed, Booked, and Percentage of work completed)
- Number of Covered Parking Slots (Proposed, Booked, and Percentage of work completed)
Development Work
The section titled ‘Development Work’ provides you with information about the various amenities and infrastructure available in a particular project, including the details about the percentage of the work that has been completed on the same. These amenities have been listed below.
- Internal Roads and Footpaths
- Water Conservation and Rainwater Harvesting
- Energy Management
- Fire Protection and Fire Safety Requirements
- Electrical Meter Room, Sub-Station, Receiving Station
- Aggregate Area of Recreational Space
- Open Parking
- Water Supply
- Sewerage
- Storm Water Drains
- Landscaping and Tree Planting
- Street Lighting
- Community Buildings
- Treatment and Disposal of Sewage and Sullage Water
- Solid Waste Management and Disposal
Building Details
In this section, you can check the details about the number of buildings proposed to be constructed or already constructed in a particular project, along with their proposed date of completion. You can also check the types and number of apartments proposed or available in each building of the project, for instance, 1-BHK, 2-BHK, etc.
Project Professional Information
This section sheds light on the various collaborators and vendors of the project, including:
- Architects
- Structural Consultants
- Real Estate Agents
Litigation Details
Under this section, you can get information about the litigations associated with a particular project, if any. This can help shape your decision about whether you should invest in the project.
Uploaded Documents
The section named ‘Uploaded Documents’ enables you to view and download all the important documents related to the project, including:
- A copy of The Legal Title Report
- The Details of Encumbrances
- A copy of the Layout Approval
- Building Plan Approval
- Commencement Certificates/ NA Order for Plotted Development
- Declaration in Form B
- Performa of the Allotment Letter and Agreement for Sale
- Status of Formation of Legal Entity
- Status of Conveyance
- Other Relevant Documents
Real estate developers are not the only ones held accountable by RERA. Even real estate agents have an obligation to register with the authority before participating in any project. You can find the names of agents authorized to deal in a particular project on the website. According to the RERA, they are not allowed to sell, purchase, or act on behalf of any person to sell or buy a plot, apartment, or building in a real estate project or any part of it without first possessing a RERA registration number.
How to know which MahaRERA-registered projects have expired?
MahaRERA frequently publishes information on completed but unfinished real estate developments. In essence, these are the projects whose registrations were initially filed but later expired for a variety of reasons, including non-renewal. When this occurs, the project’s marketer is prohibited from in any way marketing, booking, selling, or making available for sale any apartment, building, or land inside the project (as applicable).
To find out which projects have expired, take the following actions:
Conclusion
RERA is the best way for buyers to get all the required information about a particular project without relying on fancy brochures shared by the builder. It’s wise to go through the regulatory website before taking a plunge into new projects in Mumbai, Bangalore, or any other city in India.
Frequently Asked Questions
What is RERA and MahaRERA?
Every state has a regulating body known as RERA or Real Estate Regulatory Authority. Whereas, Maha in MahaRERA refers to Maharashtra, which controls real estate projects within the state.
How to search MahaRERA project details?
Click on https://maharerait.mahaonline.gov.in/searchlist/search to access the MahaRERA website. Select from these options Registered Projects, Registered Agents, and Revoked Projects. Enter the project name or agent name, and the promoter’s name to find the details of your project.
Disclaimer – This article is based on the information publicly available for general use. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
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