TN RERA Approved Projects Benefits in 2025

RERA Approved Layout Projects - Namma Family Builder
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The full form of RERA Act is the Real Estate Regulatory Authority Act. Till 2016, the property buyers were suffered by

  • The malpractices of the developer
  • The breach of ethics by the builders
  • The builder lobbies.

And there were no regulations or standard norms in the real estate agency. 

The RERA Act is a regulation Act introduced on 10 March 2016 by the Rajya Sabha. It is to enhance accountability and transparency of real estate deals. The RERA approved is to protect the interests of property buyers.

Today the awareness of RERA is good.

Today the awareness of RERA is good. Lot of several violations of consumer rights happened in the past.  The government has been taking several measures to safeguard the purchasers.

Real estate Regulatory Authority implemented RERA in 2016. The RERA- approved is to regulate and promote the sale of real estate in India. That is in a efficient and transparent way. And also to protect the interest of purchasers.

All the RERA approved real estate projects have a certificate. And a unique registration number. The certificate provides all the information about the property. According to the RERA Act, a Real Estate Authority and Appellate Tribunal has been created for each state.

The real estate laws in the Indian country are governed by both the State-specific laws and the Federal laws. According to the Constitution of India, the ‘Land’ falls under the State List. The RERA Act differs from state to state. The RERA approved addresses the construction needs in various states. Project developers and builders must adhere to the policies. And register themselves under RERA. It is mainly to create, promote, and benefits from the best real estate projects. That project attracts the right customers.

The ‘Transfer of property and registration of deeds and documents’ falls under the Concurrent List. So the RERA approved is governed by both State-specific laws and Federal laws.

  • Buying
  • selling
  • acquisition
  • leasing
  • disposition of properties

are the major activities happening in the real estate field. The Real Estate Laws are enacted to ensure smooth functioning and operation of all these activities.

The RERA Certificate is a must for a developer, builder, or property agent to do

  • advertising
  • booking

and selling real estate properties. The developers must quote the unique registration number (RERA-approved) in their

  • brochures
  • advertisements
  • websites

dealing with the sale of real estate properties. Real estate laws are essential to regulate real estate property transactions. The rules and regulations of real estate laws will enhance the satisfaction of buyers. The buying and selling procedures under legal surveillance prevents the legal disputes. And also the fraudulent activities later on.

The Real Estate Act RERA is implemented in 2016 by Real Estate Regulatory Authority. The RERA approved is to regulate the sale of real estate. And also to promote the sale of real estate in India in an efficient and transparent manner. And also to protect the interest of purchasers.

RERA developer cannot directly transfer majority rights and liabilities in a real estate project to a third party. The developer has to obtain the prior written consent from two-third of the purchasers. And also a written approval from the Authority.

The list of laws passed over the years to deal with legal issues related to real estate properties.

Legal laws come into play in buying and selling of property. 

  • Transfer of Property Act, 1882 – the transfer of ownership in exchange for a price paid. (Or it may be promised price paid or it may be a price part-paid and it may be a part-promised price paid).
  • The Indian Stamp Act, 1899. This act governs the payment of stamp duty relating to land.
  • The Registration Act – 1908.
  • The ST and Other Traditional Forest Dwellers Act – 2006. (Recognition of Forest Rights)
  • The Rehabilitation and Resettlement Act – 2013.
  • The RERA Act (Real Estate Regulation and Development)

The Benefits of RERA Approved

RERA- approved offers many benefits to prospective buyers.

  • It is easier to avail of loans and funds for RERA approved plots.
  • The buyer feels and enjoys more transparency during transactions.
  • Increases the credibility of the builder. And Creates a sense of responsibility for the builder as well as the investor. It is also a symbol of trust and authenticity for the developer.
  • RERA approved ensures that the project meets specific quality standards for consumer protection from
  1. Unscrupulous developers
  2. Substandard construction.
  • The real estate sector witnessed a boost in the construction. And also there is a real growth and development of real estate projects.
  • There is an increase in demand for legalized properties. That is both in the residential and commercial zones.
  • The RERA-approved maintain standardised Carpet Area Calculation.
  • Helpful for establishing Escrow Account.
  • For eliminating False Advertising.
  • To enhance promptness in Project Delivery.
  • The RERA approved increases the resale value of plots
  • The several violations of consumer rights in the real estate sector can be prevented and the interest of purchasers can be protected.
  • Provides the buyer and developer an access to the RERA Complaint tribunal.
  • For expediting Grievance Redressal.
  • The developer must rectify any issue faced by the buyer within 5 years of purchase.
  • Many NRIs and foreign investors have expressed much appreciation. The level of NRIs and foreign investment gets increased.
  • The RERA-approved makes it easy for both the buyers and sellers of the property to find a liable party for trade.
  • Dispute Resolution Mechanism – The RERA approved provides an efficient dispute resolution mechanism through the adjudicating officers and the appellate tribunals. The conflicts between buyers and developers can be resolved swiftly and fairly.

RERA Approval Criteria for Projects

To obtain RERA approval, the developers must fulfil the following criterias

Project Registration

The developers must register their projects with the respective state’s RERA authority. They have to provide essential details such as project status, layout plans, timeline, financials, and legal approvals.

Financial Soundness

The developers must establish financial stability and prove their ability to complete the project. They must  disclose their financial statements and show sufficient resources to undertake and complete the project.

Adherence to Building Regulations

The developers must  provide the details that  RERA approved projects adhere to local building regulations. And they must obtain all necessary permits and clearances from the relevant authorities.

Consent from Homebuyers

The developers must consider the interests of buyers and take into account for major decisions. They must encourage collective decision making. A certain percentage of buyers collective decision making is essential before applying for RERA approval.

Compliance with RERA Regulations

The realestate developers and builders must follow the regulations and provisions of RERA. They adhere to project completion timelines, maintaining transparency, and resolving buyer grievances on time perfectly.

Conclusion

  • RERA approved real estate projects boost the real estate investments.
  • It help customers better compare the property and demand just what is promised by the developer, thus expediting better decision-making.
  • The RERA Act will make the real estate market in India more trustworthy for years to come.
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