Home Property in Chennai How to Verify RERA Approval Before Buying an Apartment in Tamil Nadu?
Did you know? Chennai has more than 900 RERA-registered residential projects (Source)
Verifying the RERA (Real Estate Regulatory Authority) approval for your property is crucial in today’s real estate market. For residents in India, this verification process can safeguard them against legal issues and ensure transparency in property dealings. Whether you are buying or selling land, understanding RERA approval is essential.
In this article, we will guide you through quick, simple steps to check whether your property is RERA-approved and what RERA means for property buyers.
RERA, or the Real Estate Regulatory Authority, was established in 2017 by the Indian government to protect the interests of home buyers, enhance transparency in the real estate sector, and reduce the regulatory burden. The primary goal of RERA is to promote accountability and provide a platform for regulatory oversight of builders and developers.
RERA approval is vital for several reasons:
Read more about the importance of RERA registration in Chennai
Checking RERA approval for your property is a straightforward process that can be completed in just a few minutes. Follow these steps to verify RERA registration:
Check Out the RERA Rules NRIs Must Know When Buying a Flat in Chennai.
If you find that your property isn’t RERA approved, it’s essential to take certain precautions:
If you’re looking for RERA-approved apartments in Chennai, contact MP Developers, a trusted builder in Chennai. With 14+ years of experience, we deliver quality villas, apartments, and plots with a strong focus on timely delivery and customer satisfaction.
Also read: How to Verify a Builder’s Completion Certificate (CC) in Chennai
The implementation of RERA has introduced various protections for homebuyers:
Step 1 – Visit the Official Portal
Go to rera.tn.gov.in. As of 1 March 2024, applications for registration of buildings and normal layouts are received only through the online portal.
Step 2 – Choose the Right Form
Promoters can register a real estate project under the TNRERA Act by filing Form A, attaching all the required documents.
Step 3 – Select Project Location
For project applications, indicate Tamil Nadu or Andaman as the location.
Step 4 – Submit Required Details
You will be required to provide specific information, including: project details (type, size, location), financial information (bank account details, total cost, funding sources), and past projects history if applicable.
Step 5 – Upload Documents
Documents to be submitted include approvals, layout plans, ownership proof, financial details, and firm registration documents if applicable. A dedicated RERA bank account must also be opened.
Step 6 – Pay Registration Fees
The fees for developers are:
Step 7 – Verification and Approval
TNRERA processes complete project and agent registration applications within 30 days from the submission date. Delays occur only if authorities issue queries requiring document corrections or clarifications from applicants.
In summary, checking the RERA approval of your property is not just a formality but a crucial step in ensuring the safety and legality of your investment in real estate. The online process allows for a swift and efficient way to verify approvals. Make use of these simple steps to safeguard your investments and navigate the real estate landscape confidently.
If you have any further questions about RERA approvals or the property verification process, do not hesitate to reach MP Developers!
1. How to check RERA approval online in Tamil Nadu?
Visit the Tamil Nadu RERA website, enter the project or builder name, and check the registration details.
2. What is the 70% and 30% rule in RERA?
Builders must keep 70% of buyers’ funds in a separate bank account and use it only for that project’s construction and land costs.
3. Is a balcony counted in RERA carpet area?
No. Open balconies are not included in the RERA carpet area.
4. How to check a property before buying?
Verify the title deed, RERA registration, approvals, encumbrance certificate, and other legal documents before purchasing.
5. How to get RERA approval in Tamil Nadu?
The builder or promoter must apply to Tamil Nadu RERA with the required project documents and approvals for registration.
6. What are the rights of homebuyers under RERA?
Homebuyers have the right to project information, timely possession, quality construction, compensation for delays, and quick dispute resolution.