It is important to have a real estate authority in the real estate sector that can supervise the work of all the real estate developers and other property aspects and other issues. Therefore, we have RERA. RERA is an abbreviation of the Real Estate Regulatory Authority. It is a governing body that oversees and checks the real estate sector in India. Different states have sectors of RERA; Haryana has HRERA.
The property buyers have HRERA for accessing the properties in Haryana that have the Haryana RERA registration process for that process. This process helps in selling apartments, office spaces, plots, retail spaces, commercial spaces, and others.
So, what exactly is HRERA?
Table of content
- What is Haryana RERA?
- The Role and Functions of Haryana RERA
- Services offered by Haryana RERA
- How to Check RERA-Registered Projects?
- Legal Requirement of Haryana RERA Registration
- Benefits of Buying HRERA-Approved Projects
- Conclusion
- FAQs
What is Haryana RERA?
The Haryana RERA is an authority that regulates the real estate sector in Haryana. It is done under the RERA Act for real estate regulation in the state of Haryana. The two independent authorities have jurisdiction in RERA, Gurgram, and Panchkula. You must be wondering why RERA is important for sellers and buyers. Let’s look at the services of RERA Haryana:
The Role and Functions of Haryana RERA
By the RERA Act, established in 2016, under Section 34, these are the core functions of RERA:
Firstly, the authority needs to register projects for real estate that are following HRERA from Gurugram. This helps in the regulation of projects through HRERA.
The authority needs to maintain all the records and further publish them in the public domain. You can find all the details of the properties on the Gurugram RERA website.
The website also has to show the promoters list, property photographs, entity name list, and the list related to defaulters as well. RERA also has to mention the different penalties for every real estate project.
The authority also supervises that the promoters and allottees have to obey all the rules of the RERA Act.
The RERA also checks if the different parties that are related to the project also comply with all the RERA guidelines.
Also Read: RERA Website: Purchasing property made easy
Services offered by Haryana RERA:
The Haryana RERA provides services to promoters and buyers:
Buyers
The buyer gets full and detailed information about the project registered with HRERA. With HRERA, the buyer can expect full transparency. Therefore, houses, flats, or apartments sold by promoters can only be sold if they are approved under HRERA by laws that apply to them. Buyers also have the option of filing a complaint if they are facing any kind of project development delay, etc.
Promoters
A Promoter is the developer of the project. RERA further assists these developers, like Omaxe, with the registered project promotional activity under the jurisdiction of Panchkula And Gurugram HRERA.
How to Check RERA-Registered Projects?
If you are in the buying phase of the property, then you will be considered a buyer. We will provide you with the steps to check for RERA-approved projects:
Visit the official website of Haryana RERA
- Go to the homepage of RERA
- Now select the icon responsive to whether you want to go for Panchkula or Gurugram.
- Further, select the “Projects” icon
- Then go to the option of “Registered projects”
- Next, you have to search for the project and then the system will automatically redirect you to a new page
- Here you can put down information like the RERA ID, Project year, and Project Builder.
- Then the page will provide the necessary information you need about the project, and then you can check all the details regarding the project.
Omaxe is a RERA-registered project. If you are thinking about Commercial property in Faridabad, then Omaxe builds projects not only in Faridabad but all over India. You can get all the details related to it by going to the Omaxe website.
Legal Requirement of Haryana RERA Registration
Under Section 3 of RERA action, no promoter under any circumstance can book, sell, market, advertise or offer the property for sale or provide an invitation for purchase for any apartment, plot, or building, be it part of real estate project or having a part in planning, etc. Under no circumstances can they do anything if they are not registered by RERA. Also learn Penalties under RERA across different states
Benefits of Buying HRERA-Approved Projects
There are multiple benefits to Buying HRERA-approved projects that can help you in the long run. Here are some of the benefits:
Legal Assurance: HRERA helps with the proper legal assurance that the buyer gets. This helps in fraud prevention, along with the proper regulatory completion of the project before handover.
Transparency: HRERA projects have to provide all the details regarding the project, and each piece of information has to be accurate. Plus, the developer has to provide full financial disclosures and project timelines as well. This helps in better transparency and buyers can take decisions based on it.
Dispute Resolution: To provide effective resolution and timely redressal the HRERA has provided a platform for dispute resolution and grievance redressal between developers and buyers.
Quality Assurance: Through the guidelines of HRERA, the developers have to sustain their quality to the set standards, providing buyers with construction quality assurance.
Timely Possession: The HRERA benefits for home buyers is that they will get possession of their property under the timeline provided by the developer. It helps in removing uncertainty for the buyers.
Financial Security: HRERA mandates that the developers have to make escrow accounts where the project funds are there. This helps in ensuring that these funds are used only for that project.
Enhanced credibility: Building a project under RERA generally helps with the developer’s credibility. This makes the developer more trustworthy as it is adhering to RERA rules, regulations, and guidelines.
Consumer Protection: HRERA safeguards the rights of the buyer, fully ensuring transparency, fair practices, and accountability for transactions in real estate, providing proper protection to consumers.
Conclusion
Buying HRERA-approved properties in Haryana will help solve all the problems related to transparency and project timelines and safeguard the buyer from any type of fraudulent practice. HRERA benefits for home buyers are great, and their rights are now safeguarded. Meanwhile, if you are searching for great properties, Omaxe has all the properties registered under RERA.
FAQs
1. Is RERA applicable in Haryana?
The answer to this question is Yes. RERA has been applied in the state of Haryana since 2017.
2. When was Haryana RERA established?
The HRERA or Haryana RERA was established on the date of 29 July 2017. It was segmented into two branches HRERA Panchkula and HRERA Gurugram.
3. Can buyers claim compensation for project delays under HRERA?
Yes, the buyers have the right to claim the compensation under project delays with the help of HRERA under the agreement’s Terms and conditions.
4. Is RERA registration mandatory for all real estate projects in Haryana?
Yes, the RERA registration is mandatory for all real estate projects in Haryana. If the land area is 500 square meters or more than that or if the number of apartments are more than 8 in number, then it’s mandatory to register that property or land under RERA.
5. How can I check if a real estate project is registered under HRERA in Haryana?
You can easily check if the real estate project is registered under HRERA in Haryana or not by simply going to the HRERA website and finding out registration details using the authority’s project details, project year and project number.
6. What are the benefits of buying a property from an HRERA-registered developer in Haryana?
Some of the benefits of buying a property from an HRERA-registered developer in Haryana are Accountability, protection of rights, transparency, quality assurance and dispute resolution.
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