RERA Punjab: Registration Process, Fees, Rules, and Benefits

RERA stands for the Real Estate Regulatory Authority, established under the Real Estate (Regulation and Development) Act, 2016. The Act was introduced to protect homebuyers' interests and improve transparency and accountability in the real estate sector.

RERA Punjab was established to implement the provisions of the Act within the state. It requires developers to register eligible ongoing and upcoming real estate projects and mandates real estate agents to obtain registration before operating in Punjab. Failure to comply with these requirements may result in penalties.

The authority also provides a platform for homebuyers to access project information and raise complaints against developers or real estate agents. RERA Punjab reviews such complaints and takes appropriate action in accordance with the Act, helping create a more transparent and accountable real estate market.

RERA Punjab plays an important role in regulating the real estate sector in the state. It promotes transparency, accountability, and fair practices while safeguarding the interests of homebuyers and other stakeholders.

Here are the functions of RERA Punjab:

• Maintain an Official RERA Portal

RERA Punjab maintains an official website where details of registered projects, real estate agents, regulations, orders, and notifications are made available to the public.

• Register Real Estate Projects and Agents

It oversees the registration of eligible real estate projects and real estate agents operating in Punjab.

• Promote Transparency in Real Estate Transactions

RERA Punjab requires developers to disclose key project details, helping buyers make informed decisions.

• Monitor Compliance with RERA Regulations

The authority ensures that developers and real estate agents comply with the provisions of the Real Estate (Regulation and Development) Act, 2016.

• Protect Homebuyers' Interests

It helps ensure that buyers receive accurate project information and are protected against unfair practices.

• Facilitate Fair Sale of Properties

RERA Punjab promotes fair and transparent sale of plots, apartments, and other real estate units.

• Address Grievances and Disputes

Homebuyers can file complaints against developers or real estate agents through the prescribed mechanism. The authority examines such complaints and takes action as per the Act.

• Encourage Growth of the Real Estate Sector

By creating a transparent and accountable regulatory framework, RERA Punjab supports the sustainable growth of the real estate market in the state.

RERA Punjab offers several benefits that help make property transactions more transparent and secure for homebuyers.

Here are the benefits of RERA Punjab for homebuyers:

Access to verified project details

Check project approvals, status updates, and developer information before making a purchase.

Greater transparency

Get access to project-related information that developers are required to disclose.

Protection against false claims

Developers must provide accurate project details and advertisements.

Timely project delivery

RERA regulations help hold developers accountable for delays.

Grievance redressal support

Raise complaints against developers or agents through the prescribed mechanism.

Better protection of investments

Regulatory oversight helps reduce the risk of unfair practices.

Informed property decisions

Compare registered projects using publicly available information on the RERA Punjab portal.

RERA Punjab enforces the provisions of the Real Estate (Regulation and Development) Act, 2016 to promote transparency, accountability, and fair practices in the real estate sector. 

Here are some of the key rules applicable to registered projects in Punjab:

• Sale based on carpet area

Developers must sell apartments based on the carpet area, ensuring greater transparency in property pricing.

• Regular project disclosures

Developers are required to provide project-related information and periodic updates on the RERA portal, including construction progress and project status.

• Compensation for project delays

If a developer delays possession of a project, eligible homebuyers may be entitled to interest or compensation as specified under the Act and applicable rules.

• Defect liability period

Homebuyers can report structural defects or other defects in workmanship, quality, or services within 5 years from the date of possession. The developer must rectify such defects without additional charge within the prescribed period.

• Consent for major project alterations

Developers cannot make major changes to sanctioned plans, layout plans, or project specifications without obtaining the consent of at least two-thirds of the allottees.

• Restriction on advance payments

A developer cannot accept more than 10% of the property's cost as an advance or application fee before entering into a registered agreement for sale.

• Separate escrow account requirement

Developers must deposit 70% of the amounts realised from allottees into a separate bank account and utilise these funds only for the construction and land costs of the concerned project.

Follow the below mentioned steps to register a project in RERA Punjab:

1. Visit the RERA Punjab’s official website
   

2. Click on the ‘Project Registration’ tab under the Spotlight section
   

3. A new page will open where you have to create an account to register
   

4. From the given options—promoter, real estate agent, and complainant, choose the one you want
   

5. Fill in the username, email and password in the fields that appear on the page
   

6. Enter the displayed captcha
   

7. Click on the ‘Create User’ button to create your account

1. Visit the RERA Punjab’s official website
   

2. Click on the ‘Agent Registration’ tab under the Spotlight section
   

3. A new page will open where you have to create an account to register
   

4. From the given options—promoter, real estate agent, and complainant, choose the one you want
   

5. Fill in the username, email and password in the fields that appear on the page
   

6. Enter the displayed captcha
   

7. Click on the ‘Create User’ button to create your account

Before purchasing a property, you can verify whether the project is registered with RERA Punjab. This helps you access important project details and confirm the registration status of the developer.

Here are the steps to check the RERA Punjab registration status of a project:

1. Visit the official RERA Punjab website

2. Click on‘Search Registered Projects’

3. Select the relevant district

4. Enter details such as the project name, promoter name, or registration number, if available

5. Click‘Search’ to view the results

6. Review the list of matching projects displayed on the screen

7. Click‘View Details’ to access information such as the project registration number, validity period, promoter details, and other disclosures

If you face issues such as project delays, misleading information, or non-compliance by a developer or real estate agent, you can file a complaint with RERA Punjab.

Here are the steps to file a complaint with RERA Punjab:

1. Visit the official RERA Punjab portal

2. Click on‘Register Complaint’ or the complaint filing section

3. Create an account or log in to the portal, if required

4. Complete the complaint form with the necessary details

5. Provide information about the project, developer, or real estate agent involved

6. Upload supporting documents, such as the allotment letter, sale agreement, payment receipts, or correspondence

7. Pay the applicable complaint filing fee, if required

8. Submit the complaint and note the reference number for future tracking

9. Attend hearings or provide additional information if requested by the authority

RERA registration can play an important role when you apply for a home loan. Many lenders prefer financing properties that are registered under RERA because registration improves transparency and provides access to verified project information. 

A RERA-registered project typically includes details about approvals, project timelines, promoter information, and regulatory compliance. This can help lenders assess the project's credibility and reduce the risk associated with financing the property. For you as a homebuyer, choosing a RERA-registered project can simplify due diligence and may support a smoother home loan assessment process.

In case of any issues, you can reach out to Punjab RERA at:

Real Estate Regulatory Authority

Punjab Mandi Bhawan, Ground Floor,

Sector - 65-A, Mohali, SAS Nagar

Punjab - 160062

RERA Punjab contact number - 0172 - 5139800-29

Disclaimer: The information provided here is for informational purposes only. Please visit the official website and carry out your research before you avail any services.

RERA Punjab plays an important role in improving transparency and accountability in the state's real estate sector. By requiring eligible projects and real estate agents to register with the authority, it helps homebuyers access project information, verify registrations, and seek redressal in case of disputes.

Before purchasing a property in Punjab, it is advisable to check the project's RERA registration status and review the available details on the official portal. If you are planning to finance your property purchase, you can also compare home loan options on Bajaj Markets to find a suitable financing solution based on your requirements.