Project registration under RERA is a mandatory process for developers before launching any real estate project. This registration ensures that the project complies with all legal requirements, including providing detailed information about the project’s timeline, layout, approvals, and financial status. By registering, developers are obligated to deliver the project on time, maintain transparency, and adhere to the specifications promised to buyers. It also provides homebuyers with legal protection, ensuring their rights are safeguarded. RERA registration promotes trust and accountability in the real estate market.
Quarterly compliance under RERA requires developers to submit regular updates on the progress of their registered projects. This includes reporting on construction milestones, financial status, and adherence to the project’s timeline. These quarterly reports ensure transparency and keep both the regulatory authorities and homebuyers informed about the status of the project. By maintaining quarterly compliance, developers demonstrate their commitment to delivering projects on time and as per the promised specifications, while avoiding penalties or legal issues for non-compliance.
