The Gujarat Real Estate Regulatory Authority (GujRERA) has initiated a comprehensive campaign to raise public awareness about the importance of RERA-registered real estate projects. The move comes in response to a growing concern over numerous real estate projects operating without proper registration, posing potential risks to homebuyers. GujRERA aims to educate the public, empowering them to identify and report unregistered projects, thereby promoting transparency and accountability within the real estate sector.
According to sources within GujRERA, the authority has identified several projects under municipalities and various urban development authorities that are not registered under RERA. "We are taking action against such projects, but we also want to make the public aware of these issues so they can benefit from RERA’s protection," a senior official stated.
One of the major concerns highlighted is the practice of pre-launches, where builders market projects with promotional materials and contact information before securing RERA registration. This practice can lead to complications for homebuyers who invest without the protections afforded by RERA regulations.
As part of its awareness initiative, GujRERA will encourage the public to exercise caution and avoid booking properties in unregistered projects. The public will also be urged to report any pre-launch activities to the authorities. The official added that there is a provision for penalties of up to 10% of the project's cost if a project is marketed without RERA registration.
"RERA provides substantial rights and protections for homebuyers. If a builder delays property possession, buyers are entitled to compensation. Additionally, if the construction quality does not meet the promised standards, buyers can file complaints through the RERA grievance redressal mechanism," the official explained. The campaign is set to run for approximately three years, aiming to increase buyer awareness and enhance compliance with RERA regulations.
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