Your rights
What RERA means for you as a first-home buyer
RERA is the law that puts the builder’s promises in writing and on the public record. Here is what it gives you.
The Real Estate (Regulation and Development) Act, 2016 came fully into force in 2017. In Karnataka it is run by the Karnataka Real Estate Regulatory Authority (K-RERA). You do not need to read the Act. You need to know the handful of sections that protect you.
The project must be registered (s.3)
A builder cannot advertise or sell in most new projects before registering them. The exemptions are small projects: land of 500 square metres or less, or eight apartments or fewer. Check a registration yourself.
You buy by carpet area (s.2(k))
Carpet area is the net usable floor area inside your walls, not counting external walls, service shafts, your exclusive balcony or open terrace. Compare homes on this figure.
At most 10% before the agreement (s.13)
The builder may not take more than 10% of the cost as an advance or application fee before a registered agreement for sale. Illustrative: on a ₹65 lakh home, at most ₹6.5 lakh.
70% of your money stays with the project (s.4)
The builder must keep 70% of the money collected from buyers in a separate bank account and use it only for that project’s land and construction.
No changes without your consent (s.14)
The builder cannot make additions or alterations to your home’s sanctioned plan and specifications without your consent. Wider structural changes need the consent of at least two-thirds of the buyers.
Delay means refund or interest (s.18)
If the builder cannot hand over by the date in the agreement, you can withdraw and get your money back with interest, or stay and receive interest for every month of delay until possession.
Five years of defect repair (s.14(3))
If you find a structural defect or a fault in workmanship, quality or services within five years of possession, the builder must fix it without charge within 30 days of being told.
Your side of it (s.19)
You must pay on time as agreed, and take possession within two months of the occupancy certificate. Late payments carry interest too.
Where to complain (s.31)
Any buyer can file a complaint with K-RERA about a registered project. Keep your agreement, receipts and letters; they are your evidence.
FAQ
Questions buyers ask
Does RERA apply to ready-to-move homes?
It applies to ongoing projects that did not have a completion certificate when the Act came in, and to new projects. A project completed before that may not be registered. For a resale flat, your protection comes mainly from your lawyer’s title check.
What interest does a builder pay for delay?
The rate is set by the state RERA rules, linked to a bank lending rate. Check the Karnataka rules or ask your lawyer for the current figure, and see what your agreement says.
Can I complain without a lawyer?
Yes. A buyer can file a complaint with K-RERA directly. Many do take legal help for drafting, but it is not required.
Does RERA cover the maintenance charges?
The agreement for sale, in the format the state rules prescribe, sets out what is payable and when. Ask for every recurring charge on the written cost sheet before you sign.
Is The Shalott Marque RERA-registered?
Yes: PRM/KA/RERA/1251/308/PR/180826/008871. Please look it up on the K-RERA website yourself.
Ask us anything about our RERA filing
The Reeva team will walk you through The Shalott Marque’s registration and documents, line by line.