The Real Estate Regulatory Authority came into force on 1 May 2016, intending to protect home buyers while boosting real estate investments. This was deemed necessary due to the widespread perception in the real estate market that most transactions were biased and, more often than not, in favor of the project’s developers. The RERA Act is intended to make the real sector prosperous and sustainable by bringing accountability and transparency to the whole process.

Important functions of RERA Delhi

Following are some of the important features of the RERA:

Real estate regulatory authority is established in every Indian state with the vision to regulate and provide resolution to any real estate disputes within the state

Appellate Tribunal has been formed to provide speedy resolution of real estate issues via concerned officers

Under the RERA, all real estate projects are required to be registered with RERA, so that it can regulate all things related to the compliance of the project. The authority has the right to reject any application for registration if it finds proper procedure has not been followed. 

Both buyer and promoter are required to pay an equal interest in case of default

If a company is found to have violated any of the provisions of this act, both the company and the person in charge of it at the time will face penalties.

Any matter that is subject to the RERA or the Appellate Tribunal’s jurisdiction is not subject to the jurisdiction of any civil court. Currently, no court has the authority to order a reversal of a decision made by the Tribunal or the RERA.

A fine must be paid if the appellate Tribunal’s orders are disobeyed. A fine of up to 10% of the project’s cost or three years in prison is a possible penalty. 

If the promoter fails to function under RERA’s order, they are liable to pay a penalty, which may extend up to 5 percent of the total cost of the project. 

One can file a complaint with RERA if they have any problems regarding the violation of rules by an agent, promoter, or buyer 

In case a complaint has been raised against an agent or a buyer, the RERA has the authority to stop them from continuing the activity with which the complaint was raised 

If any party is not satisfied with the solution provided by the RERA, they can submit an appeal before the Appellate Tribunal

If the buyer suffers a loss as a result of the promoter’s failure to protect the property, the promoter must pay the buyer. There is no binding legislation governing the amount of compensation 

Advantages of RERA Delhi

RERA also offers various benefits to buyers, agents, and promoters. Here are some of the advantages of this act:

Defining carpet area 

Before the implementation of RERA, there were no particular methods to calculate the price of a project. However, after the RERA came into effect and provided an established formula to calculate the carpet areas.

Advance payment

As per RERA, a builder is not permitted to receive more than 10 percent of the total cost of the project as an advance payment or application fee. This has made it easy on the buyer, as they do not have to pay a large amount initially. 

Eliminate the threat of insolvency 

Before the implementation of RERA, developers had the freedom to reallocate funds gathered from one project to another.  Since the RERA requires that 70% of the funds be deposited in a different bank account, this is no longer the case. These funds can only be withdrawn with the approval of a chartered accountant, architect, or engineer. 

Rights of the buyer 

This states that if there is a defect or fault in construction within 5 years of allotment, the builder is required to make repairs within 30 days at no cost to the buyer.

Interest paid for default

Before the implementation of RERA, in the event of a property possession delay, the interest owed to the buyer was significantly lower than what the buyer had to pay if there was a default on their part. Now, both parties must pay the same interest rate in the event of default.

Buyer’s right if there are cases of false promises

The buyer may request a full refund of the advance payment if there is a discrepancy between what the builder initially offered and what is being delivered. In some circumstances, the builder might be required to pay interest on the sum.

In case of fault in title 

Buyers are entitled to compensation from the promoter if they discover a flaw in the title when taking possession. There is no set limit for this amount.

Right to information

The buyer has the right to ask for all the information about the project at all times. Information on the layout, progress toward completion, execution, and other details are included but not limited to this.

Resolution of complaints

They can complain with RERA if the buyer, agent, or promoter has any grievances regarding the project. If the RERA’s decision is unsatisfactory, an appeal can be made to the Appellate Tribunal.

Delhi RERA Purpose

The National Capital Territory’s real estate market is governed and regulated by the Real Estate Regulatory Authority. This is carried out by the RERA of 2016, which aims to bring professionalism, accountability, and transparency to the real estate sector. People looking to purchase property in Delhi should visit the RERA Delhi official website and review all the pertinent details about the unit they are interested in. Due to the variety of information provided on the website, the builder’s potential to defraud the buyers is eliminated.

Procedure for Delhi RERA Registration 

The steps for registering with RERA as an agent, buyer, or promoter are as follows:

Register as an Agent

Follow the given steps to register with RERA Delhi as an agent:

• Visit the official Delhi RERA website at rera.delhi.gov.in
• Now, select the “Registration” tab at the top of the homepage
• Select the “Real Estate Agent” from the three options (Projects, Real Estate Agent, and Promoter)
• You will then be redirected to a page where you must fill out a pre-registration form.
• You must now enter some basic information, including your name, phone number, email address, and date of birth.
• To register, you can now sign up.

How to Register as a Promoter

The following are the steps you need to follow while registering as a promoter with the RERA:

• Visit the official Delhi RERA website at rera.delhi.gov.in
• Click on the “Registration” tab at the top of the homepage.
• Select the “Projects (Application by Promoter)” option from the list of options you will see.
• You will then be redirected to a page where you must fill out a pre-registration form.
• You must now enter some basic information, including your name, phone number, email address, and date of birth.
• Now sign up and register

How to Register as a Buyer

Let’s take a look at the steps you need to follow to register as a buyer with the RERA:

• Visit the official Delhi RERA website at rera.delhi.gov.in
• Click on the “Registration” tab at the top of the homepage.
• Select the “buyer” option from the list of options you will see.
• You will then be redirected to a page where you must fill out a pre-registration form.
• You must now enter some basic information, including your name, phone number, email address, and date of birth.
• Now sign up and register

Required Documents for Registration with RERA Delhi 

You will need to provide specific documents for the registration process if you choose to register with Delhi’s RERA. The following are some of the documents you will need:

• Aadhaar number and a PAN Card
• Financial records such as income tax returns and cash flow statements
• Deed of title
• Layout of the project
• Plans for development
• Sanctioned plans 

How to File a Complaint in RERA Delhi

According to the type of complaint, you can submit a RERA complaint to one of the three following authorities in Delhi:

RERA Authority

The aggrieved promoter, buyer, or agent can file a complaint to the Delhi RERA using Form M in the event that any of the RERA’s provisions have been violated.

RERA Adjudicating Officer

You can submit a complaint to the adjudicating officer using Form N if the complaint relates to any loss or damage brought on by inaccurate information in the brochure. Additionally, you can use this form to complain about a structural defect or a delay in the project’s completion.

RERA Appellate Tribunal

Any aggrieved party dissatisfied with the solution provided by the RERA authority or RERA Adjudicating Officer may file an appeal with the Delhi State Tribunal using Form L.

RERA Delhi Complaint Procedure

Here is the procedure that you need to follow to file a complaint with Delhi RERA:

• Go to the RERA web portal and click on the “File Complaint” tab. Create your ID and password with the user type set as “Complainant”. 

• Fill up all the required information and click “Create User”. A confirmation email will be sent to your email address. Verify your account by clicking on the activation link that has been sent to you on your mail address.

• log on to the web portal using the user ID and password you generated in the first step.

• Fill in all the relevant information in the respective form.

• Now, make a payment of Rs 1000 as a complaint registration fee using a debit card, credit card, or net banking.

• Upload all documents that support your complaint. You must upload a Vakalatnama in the current format along with the form if you decide to involve a legal professional. 

• By selecting the “Submit” button, you can now submit your application. Please remember that keeping the complaint reference number handy is crucial for use in subsequent procedures.

Details to be Mentioned in RERA Complaint

Depending on the specifics of your complaint, you can submit it to the Real Estate Regulatory Authority of Delhi using Form M, Form N, or Form L. To bring a complaint before the RERA Tribunal, you must file an appeal against the decision made by the adjudicating officer or RERA Authority. The information that should be included when filing a complaint is as follows:

• Basic details of the buyer
• Address/location of the concerned project
• Registration number of the project
• Response of the developer
• A solution as sought from the RERA Authority
• The facts surrounding the reason for the delay of the project

Once the complaint has been filed with RERA Delhi and the respective registration fees have been paid, the complaint is usually resolved within 60 days of receipt.

Conclusion

The RERA Delhi controls the registration of real estate projects and agents in addition to ensuring greater transparency in the real estate market. The primary purpose of the RERA is to resolve complaints made by developers, agents, or buyers. Additionally, it is responsible for stopping any unethical or immoral practices in the real estate sector. 

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