Understanding RERA: A Buyer's Perspective
The Real Estate (Regulation and Development) Act, 2016 — commonly known as RERA — was enacted to bring transparency, accountability, and efficiency to the real estate sector.
Key Protections Under RERA
- Project Registration: All projects with more than 8 units must be registered with the respective state RERA authority before advertising or selling.
- Escrow Account: Developers must deposit 70% of funds received in a separate escrow account used only for that project's construction.
- Carpet Area Clarity: Sale must be on carpet area basis — no more of the "super built-up area" confusion.
- Delay Compensation: If possession is delayed, the buyer is entitled to interest compensation at the bank rate.
How to Verify RERA Compliance
Visit your state's RERA portal (e.g., UP RERA at up-rera.in), search for the project RERA number, and verify the registration status, project timeline, and any complaints filed against the developer.
Saviour Group's RERA Commitment
All Saviour Group projects are fully RERA registered and compliant. We believe transparency is not just a legal requirement — it is the foundation of lasting customer relationships.