RERA Checklist for Homebuyers
Before You Book an Apartment, Check These RERA Details
Buying an apartment involves more than comparing floor plans, amenities and prices. Before you pay a booking amount, there is another set of details worth checking – RERA. A RERA checklist for homebuyers can help you verify project registration, approvals, promised specifications, completion timelines and developer disclosures before paying a booking amount.
For anyone looking apartments or Villas, understanding RERA can make the buying process more transparent and help you make a more informed decision.
What Is RERA?
The Real Estate (Regulation and Development) Act, 2016 was introduced to bring greater transparency, accountability and regulation to the real estate sector while protecting the interests of homebuyers. Kerala has its own regulatory authority, K-RERA, which oversees registered real estate projects and provides a platform for buyers to access project information and raise complaints.
For projects covered by the Act, registration is generally required when the land proposed to be developed exceeds 500 square metres or the number of apartments exceeds eight, subject to applicable exemptions. Promoters must register before advertising, marketing, booking or selling such projects.
What Does RERA Protect Homebuyers From?
RERA does not remove every risk associated with buying property, but it creates important safeguards around transparency and developer obligations.
Protection against misleading project information: Promoters are responsible for the accuracy of advertisements and prospectuses. Project details, plans and specifications are required to be disclosed.
Protection around project funds: At least 70% of amounts collected from allottees must be placed in a designated separate account and withdrawals are linked to project completion through certification by an Engineer, Architect and Chartered Accountant.
Protection against major changes: Changes to sanctioned plans, layouts or specifications generally require the prior written consent of at least two-thirds of the allottees, subject to the Act.
Protection in case of possession delays: If the promoter fails to hand over possession according to the agreement, the Act provides remedies including refund with interest and compensation, or interest for the delay if the allottee continues with the project.
Protection against certain defects: Structural defects and specified defects in workmanship, quality or services brought to the promoter’s notice within five years of possession must be rectified without further charge within the prescribed period.
Your RERA Checklist Before Buying a Flat
Before booking an apartment in Trivandrum, check:
- RERA registration number — Verify it on the K-RERA portal rather than relying only on a brochure.
- Project details — Check the approved plans, specifications, number and types of units and project status.
- Completion timeline — Compare the promised possession date with the registered project details.
- Approvals and permits — Review the approvals and documents disclosed for the project.
- Developer information — Check the promoter’s details and project history available through the portal.
- Quarterly progress — Look at the latest construction and financial updates.
- Agreement for Sale — Read the registered agreement carefully before committing to the purchase. K-RERA states that a promoter cannot receive 10% or more of the apartment’s cost before entering into the registered agreement for sale.
- Possession documents — Before taking possession, check the applicable completion and occupancy documentation.
How Does This Apply When Choosing an Arcon Home?
At Arcon Homes, RERA registration is part of the project information made available to buyers. Arcon’s current portfolio lists the K-RERA registration details for its residential projects, allowing prospective buyers to verify project information through the regulatory system.
Whether you are exploring premium apartments in Trivandrum, flats near Technopark or apartments in established neighbourhoods across the city, RERA should be one of the first checks you make, not the last.
A home is a significant investment. Take the time to verify the details, understand the documents and know what the developer has officially committed to.
Looking for your next apartment in Trivandrum? Explore Arcon Homes and make your choice with greater clarity and confidence.
