Is 2025 the Right Time for First-Time Home Buyers in Pune?
With over 116,000 real estate projects now registered under RERA across India, understanding this crucial buyer protection law has become essential for anyone purchasing property in 2025. Here’s everything you need to know.
What is RERA and Why It Matters
The Real Estate (Regulation and Development) Act, 2016, revolutionized India’s property sector by introducing mandatory transparency and accountability. Every project exceeding 500 sq.m. or 8 apartments must register with RERA before launching sales.scchomes+1
Key Protections for Home Buyers
Financial Security: Builders must maintain 70% of buyer payments in dedicated escrow accounts, ensuring funds are used only for construction. This prevents the diversion of your money to other projects.scchomes
Timeline Accountability: RERA mandates clear possession timelines. If developers miss deadlines, buyers have the legal right to withdraw and claim refunds with interest.moneytreerealty
Information Transparency: All project details—including legal approvals, construction status, and timelines—must be available on the RERA portal.moneytreerealty
How to Verify RERA Compliance
Before investing in any property, follow these steps:
- Check Project Registration: Visit your state’s RERA website and verify the project’s registration number
- Review Financial Details: Examine the project’s approved layout, sanctioned plans, and completion timeline
- Verify Builder Credentials: Check the developer’s track record and previous project deliveries
RERA Benefits in Practice
Since its inception, RERA has handled over 60,000 complaints, demonstrating its commitment to addressing buyer grievances. In Maharashtra, the RERA portal provides real-time updates on project progress, helping buyers make informed decisions.godrejcapital
What RERA Doesn’t Cover
While RERA provides comprehensive protection for new projects, it doesn’t cover:
- Completed projects with occupancy certificates
- Properties sold by individual owners (resale market)
- Projects launched before the Act’s implementation
Red Flags to Watch
Avoid projects that:
- Lack RERA registration numbers in advertisements
- Cannot provide clear timeline commitments
- Have multiple ongoing litigations listed on RERA portal
- Show significant delays in previous projects
RERA has fundamentally changed homebuying in India, making 2025 the safest time in history to purchase property—provided you understand and utilize these protections effectively.
