What Is RERA and Why It Matters Before Buying Property in Punjab
Buying property is one of the biggest financial decisions you’ll ever make. In India, the Real Estate (Regulation and Development) Act, commonly known as RERA, was introduced to bring transparency, accountability, and fairness to the real estate sector. For homebuyers in Punjab, understanding RERA is essential before making any investment.
11/6/20251 min read
What Is RERA?
RERA, enacted in 2016, is a central law designed to regulate the real estate industry and protect the interests of homebuyers. It mandates that all real estate projects and agents must register with the respective state’s RERA authority before advertising or selling properties.
In Punjab, the regulatory body is Punjab RERA (P-RERA), which oversees all real estate transactions within the state.
Key Objectives of RERA
Transparency: Developers must provide accurate project details, including layout plans, timelines, and approvals.
Accountability: Builders are legally bound to deliver projects on time and as promised.
Protection for Buyers: Buyers can file complaints and seek redressal for delays, fraud, or discrepancies.
Financial Discipline: Developers must deposit 70% of project funds into a separate bank account to ensure money is used only for that project.
Why RERA Matters Before Buying Property in Punjab
Verified Projects
Only RERA-registered projects are legally approved for sale. Checking a project’s registration number on the Punjab RERA website ensures it meets all legal requirements.Timely Possession
RERA enforces strict deadlines for project completion. If a builder fails to deliver on time, buyers are entitled to compensation or a refund.Accurate Information
Developers must disclose all project details—carpet area, amenities, and construction status—so buyers can make informed decisions.Legal Protection
RERA provides a platform for resolving disputes between buyers and developers through the RERA Appellate Tribunal.Increased Trust
With RERA in place, the real estate market in Punjab has become more reliable, encouraging fair practices and boosting buyer confidence.
How to Check RERA Registration in Punjab
Visit the official Punjab RERA website (rera.punjab.gov.in) and search for the project or agent by name or registration number. This step ensures you’re dealing with a legitimate and compliant developer.
Conclusion
RERA has transformed the real estate landscape in Punjab by promoting transparency and protecting homebuyers. Before investing in any property, always verify its RERA registration to safeguard your money and peace of mind.