Key takeaways

• RERA is a 2016 law that protects home buyers and keeps builders accountable.
• Most projects with more than 8 flats or over 500 square metres of land must have RERA registration.
• Builders must sell flats by carpet area, not inflated numbers.
• 70% of your money goes into a separate account that can only fund your project.
• You have clear rights if the builder delays possession or the flat has defects.

What is RERA in simple terms?

RERA stands for the Real Estate (Regulation and Development) Act. It came into full effect in May 2017. In short, it's a rulebook that builders have to follow, backed by a government body in every state. In Maharashtra, that body is called MahaRERA.

The whole point is transparency. RERA forces builders to share honest project details, use buyer money the right way, and stick to promised timelines. If they don't, buyers have a clear way to complain and get compensation.

Which projects need RERA registration?

Here's the simple rule. A project must have RERA registration if the land is more than 500 square metres or the project has more than 8 apartments. Most real apartment projects cross this line, so they have to register before the builder can advertise or sell anything.

If a builder is selling flats in a project that isn't registered, treat that as a serious warning sign. It's not allowed under the law, and it puts your money at risk.

The RERA rules every buyer should know

These are the rules that directly protect your money and your home. Learn these five and you're already ahead of most buyers.

1. Flats are sold by carpet area
   Builders can only price and sell a flat based on carpet area. That's the actual usable space inside your walls, not the balcony, walls, or shared corridors. Before RERA, builders often quoted "super built-up area," which made flats look bigger than they really were. Now the number you're paying for is the space you can actually use.
2. 70% of your money is protected
   When you pay the builder, 70% of that money has to go into a separate bank account. This money can only be spent on building your project, not the builder's other projects. The builder can pull money out only after an engineer, an architect, and a chartered accountant confirm the work is really done. This one rule stops the old habit of shifting funds around and leaving projects half-built.
3. Builders can't take a big advance
   A builder cannot ask for more than 10% of the flat's cost as advance before you sign a proper registered sale agreement. So if someone asks for a large payment upfront with just a booking form, that's not okay under RERA.
4. You're protected if possession is delayed
   The builder has to give a clear possession date at the time of registration. No vague promises. If they miss that date, you have two choices. You can walk away and get a full refund with interest, or you can stay and receive interest for every month of delay until you get your keys. Either way, the delay costs the builder, not you.
5. Five years of defect cover
   After you move in, RERA gives you a five-year window for construction defects. If cracks, seepage, or other quality problems show up, the builder has to fix them free of cost, usually within 30 days of you reporting it. This is one of the most useful protections for buyers, since some problems only appear after you've settled in.

What about changes to the plan?

Answer first: a builder cannot change the sanctioned plan of your flat or the project without your written consent. For bigger changes to the whole project, the builder needs written agreement from at least two-thirds of the buyers. So the layout you were promised can't quietly change on you. If a builder tries to push a change through as "standard practice," you have every right to say no.

How to check RERA registration in Pune

This is the practical part, and it takes just a few minutes.

1. Note down the project's RERA registration number, which must appear on all ads and brochures.
2. Go to the official MahaRERA website.
3. Search for the project or the builder.
4. Check the registration status, the promised possession date, the approved plans, and the quarterly progress updates.
5. Read any complaints filed against the builder or the project.

If a project has no registration number on its marketing, or the builder avoids the question, take that seriously. Real projects have nothing to hide here.

Does RERA cover redevelopment projects too?

Yes, and this matters a lot in Pune. Many older housing societies across the city are going in for redevelopment, where an old building is pulled down and a new one is built in its place. These new projects usually fall under RERA as well, since they cross the size and unit limits.

So if you're a society member or a buyer looking at a redeveloped building, the same rules apply. Check the RERA registration, look at the possession timeline, and confirm the carpet area. RERA gives society members the same protection it gives any other buyer.

A quick buyer's checklist

Before you book any flat, do this:

• Confirm the project has valid RERA registration.
• Read the sale agreement fully before signing.
• Don't pay more than 10% before the registered agreement.
• Check that the carpet area is clearly written down.
• Keep every receipt and every written message with the builder.

Final thought

RERA didn't make buying a home risk-free, but it did move a lot of power back to buyers. Knowing these rules means you can ask better questions, spot red flags early, and hold a builder to their word.

Good developers welcome this. Builders who follow RERA closely, keep timelines honest, and stay transparent are the ones worth trusting with your money. At Vasudha Realty, transparency and clean paperwork are treated as basics, not extras, across our residential projects in Pune. If you're planning your next home, understanding your RERA rights is the strongest first step you can take.