Essential RERA Documents: Your Complete Checklist for Real Estate Compliance

When buying or selling property, having the right documents ensures your investment is safe and legal. The Real Estate (Regulation and Development) Act, 2016 (RERA) makes this easier. It ensures transparency in real estate deals. To comply with RERA, certain documents are required for registration, whether you are a developer or a buyer. Let's dive into what these documents are and why they matter.

Why RERA compliance is crucial

RERA was introduced to protect homebuyers and increase transparency in the real estate sector. A RERA-approved project assures you of timely delivery, quality construction, and legal protection. Having the correct RERA documents is essential for ensuring compliance with the law.

Key RERA documents for registration

To register a project under RERA, developers need to submit several documents. This ensures the project adheres to RERA standards. Below is a comprehensive checklist:

1. Land ownership documents: Developers must prove they own or have legal rights to the land. Documents like sale deeds, lease agreements, or title certificates are crucial. These confirm the land is free from disputes or legal challenges.

2. Project approval documents: Developers need to submit approvals from local authorities. This includes:

• Approved building plans.
• Layout plans.
• Zoning permissions.

These ensure the project follows government regulations.

3. Financial details: RERA mandates transparency in the use of funds. Developers must provide:

• Bank account details for escrow accounts.
• Estimated project cost.
• Sources of funding.

This protects buyers from financial misuse.

4. Contractor and consultant agreements: Contracts with architects, engineers, and contractors should be submitted. These outline the scope of work and responsibilities, ensuring accountability.

5. Construction schedule: A detailed timeline of construction phases is required. This helps buyers track progress and ensures timely delivery.

6. Insurance certificates: Developers must have insurance for land title and construction. This protects buyers from legal or structural issues later.

7. Encumbrance Certificate (EC): An EC proves the property is free from any loans, debts, or legal claims. This is a key document for both developers and buyers.

8. Promoter’s details: Developers must disclose their credentials, past projects, and any legal cases. This ensures buyers can trust their reputation.

Documents buyers should check before purchase

While developers are responsible for registering under RERA, buyers also need to verify documents to make informed decisions. Here is what you should look for:

1. RERA registration certificate: This proves the project is registered and complies with RERA. Always check the certificate number on the official RERA portal.

2. Sale agreement: The agreement must mention all details, including:

• Possession date.
• Payment schedule.
• Amenities and features promised.

3. Approved layout plans: Ensure the project’s layout matches what was approved by authorities. Unauthorised changes could lead to legal complications.

4. Occupancy certificate (OC)

For completed projects, check the OC. It confirms the building meets safety and legal standards.

5. Title deed: Verify the developer has clear ownership of the land. A title deed ensures the property is free from disputes.

6. Encumbrance certificate: Just like developers, buyers should also check for any financial liabilities on the property.

How to verify RERA documents online

With RERA, verifying project details is simple and transparent. Follow these steps:

1. Go to the RERA website of your state

2. Navigate to the Home Buyers tab

3. Enter the project details

4. Initiate the search

5. Go through the project options

6. Check project details

7. Click on View Details

This helps buyers confirm compliance before investing.

Risks of ignoring RERA compliance

Investing in non-RERA-approved projects can lead to:

• Delays in project completion.
• Lack of legal protection.
• Financial losses due to non-compliance.
• Poor construction quality.

Always prioritise RERA compliance to avoid these risks.

Why these documents are important

Having the right RERA documents builds trust and ensures a smooth property transaction. For buyers, these documents mean legal protection and peace of mind. For developers, compliance avoids penalties and legal issues.

How home loans simplify the process

Investing in a RERA-approved project is a major financial step, and having the right home loan can make it much more manageable. Many banks and housing finance institutions offer loans specifically for purchasing residential properties. A reliable home loan ensures you can handle your investment efficiently while enjoying budget-friendly EMIs.

Bajaj Housing Finance provides convenient home loan solutions designed to suit a variety of needs. With Bajaj Housing Finance, you benefit from:

1. High loan amount: Secure a home loan of up to Rs. 15 crore* to bring your dream home to life.

2. Low interest rates: Enjoy interest rates starting 8.25%* p.a, and EMIs as low as Rs. 741/lakh*.

3. Quick approval: Get approved within 48 Hours* of applying – sometimes even sooner.

4. Flexible repayment tenure: Choose a repayment term of up to 32 years for comfortable EMIs.

5. Simple application: Take advantage of doorstep document collection for a smooth process.

6. Balance transfer facility: Move your existing home loan and get a top-up loan with better terms.

With Bajaj Housing Finance Home Loan, you can make your dream of owning a RERA approved home come true.