What is RERA Act - TNRERA for a home buyer - how to raise a complaint - Fee structure

Описание: #rera
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Rera act 2016 passed by the rajya sabha

The Real Estate (Regulation and Development) Act, 2016 aims to regulate and promote the real estate sector by regulating the transactions between
buyers and promoters of residential as well as commercial projects. It also has provisions for establishing a regulatory authority at state level called "Real Estate Regulatory Authority" (RERA) for monitoring the real estate sector and adjudicating disputes relating to Real Estate Projects.

This Act provides for establishing Real Estate Regulatory Authority (RERA) and Appellate Tribunal for monitoring and adjudicating disputes
relating to real estate projects and also to frame Rules under this Act

Example TN-RERA is Tamil Nadu Real Estate Regulatory Authority formed by the Tamilnadu government by a Government Order (G.O) 2017
sets regulations for all real estate operators in Tamil Nadu and Andaman islands inline with guidelines set by the Real estate Regulation and development Act , 2016

Registration of all Real Estate projects and Real Estate agents is made mandatory with RERA. No sale in a real estate project can be made without registration of the project with RERA.

Rules will apply to all ongoing projects and future projects where the area of land exceeds 500 square meters or the number of apartments proposed to be developed exceed 8 inclusive of all phases.

Both promoter and buyer are liable to pay equal rate of interest in case of any default from either side

Failure to register with TNRERA is an offence and punishable with fine or imprisonment or both.

The Government has constituted the Tamil Nadu Real Estate Appellate Tribunal (TNREAT) to hear the appeals from the decisions, directions or orders of
the Tamil Nadu Real Estate Regulatory Authority (TNRERA)

HIRA in West bengal
MAHA-RERA in Maharastra
Karnataka-RERA in Karnataka

When a consumer has any disputes with the builder or promoter of the project , he can raise a complaint to the Authority in Form 'M' and the final order
or resolution is given by the authority hearing both the complainant(s) and respondent(s) arguments and this order can be downloaded form the portal

if this is not to the satisfaction of the Complainant , complainant(s) or the respondent(s) can approach the Appellate tribunal in Form 'N' and a final order is given

thus a structured frame work for dispute resolution mechanism by the Authority and the Appellate makes sure faster resolutions and transparency is maintained in all real estate transactions in the State.