Builders have to register their projects by 31 July 2017. No new project can be launched without being registered with Real Estate Regulatory Authority (RERA). Under RERA act, a developer can’t sell flats in a project unless it is registered with authority within 3 months of the act coming into the force. Till then the developers can continue their marketing and other activities like construction and paperwork regarding approvals from the authorities.
Real estate agents are also required to get registered with the authority before 31 July 2017. Maharashtra and Kerala have set up the web-based online system for various purposes. The states have set up the websites but all the required information is unavailable.
RERA advises customers to avoid becoming victims to builders who get on the market with the one-off project and are least bothered about transparency, accountability and sound business markets. Their mode of operation is to book profits and building on plots which don’t have clear permissions and titles.
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