RERA changed Indian real estate forever. But most buyers still don't know how to use it. Here's everything you need to know — in plain language.
What Is RERA and Why Does It Exist?
The Real Estate (Regulation and Development) Act, 2016 was India's first comprehensive legislation to regulate the real estate sector. Before RERA, builders operated with minimal accountability. Delays of 5–10 years were common. Money collected for one project was diverted to start another. Buyers had no standardised complaint mechanism. RERA changed this by creating state-level regulatory authorities with the power to penalise, de-register, and even imprison non-compliant builders. It mandates that 70% of project funds be kept in a dedicated escrow account, projects be delivered within the promised timeline, and carpet area (not super built-up area) be the basis of pricing.
How to Verify a Project's RERA Status
Every state has a RERA website. For Haryana, visit haryanarera.gov.in. You can search by project name, builder name, or RERA registration number. The portal shows: project details, approved layout plans, completion timeline, builder's other registered projects, and any complaints filed. If a project isn't on the portal, it either hasn't been registered (illegal for marketing) or the registration has lapsed. Never invest in an unregistered project, regardless of how good the deal looks.
Your Rights as a Buyer Under RERA
RERA grants you several powerful rights: the right to know the exact stage of construction, the right to a refund with interest if the project is delayed beyond the promised date, the right to demand structural defect repairs for up to 5 years after possession, and the right to file a complaint online without needing a lawyer. The interest rate for delays is typically the SBI MCLR rate plus 2% — currently around 10.5%. This means delayed projects become expensive for builders, creating a strong incentive for on-time delivery.
Common RERA Myths Debunked
Myth: 'RERA only protects apartment buyers.' Fact: RERA covers plots, villas, and commercial properties too. Myth: 'Resale properties are covered under RERA.' Fact: RERA only covers new sales from builders; resale transactions between individuals are not regulated. Myth: 'RERA guarantees the quality of construction.' Fact: RERA mandates structural defect liability for 5 years, but it doesn't prescribe construction standards — that's covered by local building codes and BIS standards. Myth: 'All states implement RERA the same way.' Fact: Each state has its own rules. Haryana's implementation has been among the stricter ones, which is good news for buyers here.
How Kronus Goes Beyond RERA
At Kronus Infratech, RERA compliance is the floor, not the ceiling. We maintain 85% of project funds in escrow (against the mandated 70%). We publish quarterly construction progress updates. We use ISI-certified materials tracked through a digital quality management system. Every project undergoes 40+ quality checkpoints per floor. And we offer a 2-year post-possession maintenance guarantee — twice the industry norm. Because trust isn't built by meeting minimum standards; it's built by exceeding them.
Anuraj Antil
Founder & Managing Director, Kronus Infratech
Building homes and communities in Sonipat since 2014. Got a question about this article? Reach out directly.