The Real Estate (Regulation and Development) Act, 2016 (RERA) requires developers and builders to disclose certain information about their projects to the state-level regulatory authority and to the buyers. Here are some of the key information that RERA seeks from developers and builders:
- Project details: Developers are required to provide information about the project, such as the location, the total area of the land, the number of units, and the type of units.
- Approved plans: Developers are required to provide a copy of the approved plans and layout plans of the project, including the structural plans, electrical and plumbing plans, and fire safety plans.
- Completion status: Developers are required to provide information about the completion status of the project, including the percentage of completion and the expected date of completion.
- Carpet area: Developers are required to disclose the carpet area of the units, which is the area enclosed within the walls of the unit.
- Common area: Developers are required to disclose the common areas of the project, such as the amenities, facilities, and infrastructure.
- Schedule of completion: Developers are required to provide a schedule of completion of the project, including the expected date of completion.
- Escrow account: Developers are required to disclose the details of the escrow account, including the bank where the account is maintained, the account number, and the balance.
- Occupancy certificate: Developers are required to disclose whether the project has obtained an Occupancy Certificate from the local municipal corporation or development
