About Rajasthan RERA

The Real Estate (Regulation and Development) Act, 2016 came into effect on May 1, 2016. The Rajasthan Real Estate (Regulation and Development) Rules, 2017 were notified on May 1, 2017. The Government of Rajasthan constituted the Rajasthan Real Estate Regulatory Authority (Raj.RERA) and the Real Estate Appellate Tribunal on March 6, 2019.

Objectives of Raj.RERA

Raj.RERA has been established to regulate and promote the real estate sector in Rajasthan while protecting the interests of allottees, promoters, and real estate agents. It aims to create a transparent, efficient, competitive, and consumer-friendly real estate ecosystem.

Key Functions

  • Registration of real estate projects and agents.
  • Ensuring project disclosures by promoters.
  • Complaint redressal and dispute resolution.
  • Recommendations to the Government on real estate sector development.
  • Monitoring compliance with the provisions of the Act.

Real Estate Appellate Tribunal

The Appellate Tribunal hears appeals against decisions, directions, and orders passed by Raj.RERA and Adjudicating Officers. It aims to provide speedy disposal of appeals.

Project Registration

All eligible commercial and residential projects must be registered with Raj.RERA before advertising, marketing, booking, or selling. Ongoing projects without completion certificates are also required to register.

Real Estate Agent Registration

All real estate agents facilitating property transactions in registered projects must obtain registration under the Act. Non-compliance attracts penalties as prescribed by law.

Financial Discipline

The Act promotes financial transparency by requiring:
  • Registration of sale agreements.
  • Deposit of 70% of project funds into a separate bank account.
  • Certified withdrawals based on project progress.
  • Annual audits of project accounts.
  • Compensation and refunds for buyers in specified cases.
  • Strong penalties for non-compliance.

Transparency and Consumer Protection

Raj.RERA provides public access to project details, approvals, layouts, progress reports, and quarterly updates through its online portal. The Act protects homebuyers by ensuring transparency, timely possession, fair dealings, and access to grievance redressal mechanisms.

The Real Estate (Regulation and Development) Act, 2016 represents a significant reform aimed at improving transparency, accountability, citizen-centricity, and financial discipline in the real estate sector.