Nearly a decade since RERA came into force, over 1.35 lakh projects and 95,000-plus agents now stand registered nationally. RERA aims to attain a full proof accountability for all stakeholders of the real sector i.e. developers, marketeers and home-buyers. This new regime ensures accountability and has reshaped the real estate sector.
The Real Estate (Regulation and Development) Act changed the compliance obligations of developers substantially: project registration, escrow account maintenance, disclosure requirements, and buyer agreement standards are now mandatory rather than discretionary. We advise developers on RERA registration and ongoing compliance, and represent parties in disputes before state RERA authorities.
RERA compliance is checked at multiple points in a project’s lifecycle, not just at launch, we work with all the stakeholders on maintaining compliance through construction and delivery and also for seeking accountability in case of default.