Project Investigation under RERA
Project Investigation under RERA refers to the scrutiny and compliance verification of real estate projects to ensure they adhere to the rules and regulations set by the RERA Act, 2016. This process involves evaluating project approvals, financial records, construction progress, legal compliance, and grievances to protect homebuyers and investors from fraud or misrepresentation by developers.
Project Registration Verification
- Ensuring that the project is registered with the respective state RERA authority.
- Checking compliance with mandatory disclosures such as land title, layout plans, financial details, and timelines.
Legal & Documentation Review
- Scrutinizing agreements, title deeds, and project approvals from municipal authorities.
- Verifying land use permissions, environmental clearances, and zoning laws.
Construction & Progress Inspection
- Verifying whether construction progress aligns with the commitments made to buyers and RERA timelines.
- Identifying project delays, structural issues, or deviations from approved plans.
Complaints & Dispute Resolution
- Examining complaints filed by homebuyers regarding delays, quality issues, or misrepresentation.
- Ensuring compliance with RERA orders and penalties imposed on developers for violations.
Outcome of a RERA Project Investigation
- Penalties & Fines: Developers found violating RERA regulations can face heavy fines or project cancellation.
- Corrective Actions: Developers may be asked to rectify construction issues or financial irregularities.
- Compensation for Buyers: Homebuyers can claim refunds or compensation in case of fraud or significant project delays.