What is RERA ID & Steps to Check RERA ID Online!

Introduction

The real estate sector in India has undergone a massive transformation ever since the introduction of the RERA Act. Earlier, this sector was heavily unregulated, and as a result, some developers got a free run to manipulate the customers as they liked. Complaints regarding delayed project delivery or sub-standard construction were commonplace. To put an end to the hegemony of the builders and protect the interests of the buyers, the government of India introduced the RERA rules under the RERA Act 2016.

Ever since then, all real estate development projects in India have been governed as per the RERA rulesspecific to each state as determined by the state-level RERA Authority. This means that rules under RERA Haryana will be completely different from rules under RERA Maharashtra or RERA Gujarat. If you are a real estate investor in India, you must be well-versed in all the key aspects of the RERA Act and the importance of RERA ID. Read on to learn more.

What is RERA?

RERA refers to the Real Estate Regulatory Act and came into existence in 2016. The act aims to provide transparency regarding home purchases along with boosting the real estate sector of India. The RERA bill was passed on 10th March 2016 and was effective from 1st May 2016. RERA Actis also used as a way of settling disputes under a fast-track mechanism. Establishing RERA rules in every state of India helps in monitoring real estate matters and disputes more clearly.RERA benefits a lot of NRIs who are interested in investing their money in Indian real estate.

What is RERA Certificate?

RERA certificate is a document that acts as proof that a certain property has been registered under RERA Act. This RERA certificate consists of all the information regarding the property, developer, and agent and provides a unique registration number which is also referred to as RERA id. RERA Act is considered to be one of the most important laws for the real estate sector of India, especially for non-resident Indians. The number of fraud deals has decreased after the RERA rules were enforced across India. RERA Authority in different states makes sure to monitor every dispute and issue with utmost importance and give a fair decision.

How to register under RERA?

RERA ID is the unique number provided to the property owner in the RERA certificate. Registering your project under RERA will provide you with a registration number which is also called RERA ID. There is a certain process through which the projects are registered under the RERA Act. The procedure is provided below:

• The first step is to open a bank account according to the RERA Act section 4(2) (I) (D) and make sure to collect all the essential documents required.
• Form A has to be filled and submitted, which is the registration form for RERA. If you are a promoter or an agent, you need to submit form B, too, in which you have to declare your role in the real estate industry.
• The rules of RERA include some other forms too, which are essential to be submitted. Make sure you read all the information carefully and submit all the required forms on time.
• After submitting the forms, pay the required fees for registering under RERA. After submitting the fee amount, the registration process will be completed. This amount for registration fees varies in different states.
• Once the registration process is completed, a registration number or RERA ID is provided, which is important for all future communication regarding the project.

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How to Check Registration Number or RERA ID Online?

Registration number or RERA ID is the number allotted to the owner after they have registered their project under RERA Act. To check the RERA ID online, owners need to follow the following steps: 

• Go to the official website of RERA of the respective state.
• From the registration option, select the option ‘registered projects’.
• This will take you to a third-party website, where there is an option of ‘Select User Type’.
• Select ‘registered projects’ from the given option, which will take you to all the information present on the website about the specific project.
• This information also includes the RERA ID or RERA registration number.
• You can also check other important details regarding the project, like current status, estimated date of completion, and many more.

 Compulsory Registration Under RERA Act

As per the RERA Act, the state-level Real Estate Regulating Authority must be given proper notice regarding any upcoming planned commercial or residential construction. If in any project over 500 sq m of land is involved (which is almost suitable for eight flats), the developers must also give details such as approved plans, floor plans, the number and size of garage spaces, the project's precise address with a defined piece of land, the floor area, and so on. As per RERA rules, only after approval from RERA has been received will the builders be able to market and invite buyers for investment in a property.

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Conclusion

RERA Act is used to monitor all the things happening inside the real estate sector. This is the reason why RERA is considered to be the best Act for the real estate sector of India. RERA certificate is provided to the projects which are registered under the RERA Act and have a valid RERA ID or registration number. RERA ID is given to the projects after they project registered online under RERA. Adani Realty is considered to be one of the greatest developers in India, where every project complies with the relevant RERA guidelines and rules applicable in different states. Their experts can also guide you on any matters related to the RERA Act.