The Real Estate (Regulation and Development) Act, 2016 commonly referred to as RERA, is one of the crucial acts to be enacted in the country for the promotion of transparency, accountability, and efficiency in the real estate sector. The primary objective of RERA is to protect the interests of homebuyers, ensure fair practices in real estate transactions, and regulate the functioning of real estate developers and agents.

Our Support in Real Estate Law (RERA Registration)

AD DEALS Legal Services offers specialized legal services to the real estate sector business, thus helping businesses navigate the complexities of RERA compliance and all aspects of real estate law. Here’s why firms should approach AD DEALS for RERA-related services:

Expert Knowledge of RERA:
AD DEALS Legal Services has deep understanding of RERA and its provisions. Our team of experts ensures that businesses comply with every aspect of the law, from registration to dispute resolution, thereby avoiding penalties and legal complications.

Effective RERA Registration
AD DEALS makes it easier for the developers and real estate agents in RERA registration, thus ensuring your project is registered without delay or mistakes. We will prepare all documents and update you with regard to their filing progress.
Our legal services range widely from drafting contracts to obtaining regulatory compliance, dispute resolution and providing legal advice on RERA-related matters. We bring you end-to-end business solutions.

Timely and Economical Solutions:
We well understand that real estate issues are time-sensitive, from transactions to disputes. With our quick action, we have less time lag and decrease the scope of loss as well.

Dispute Resolution Expertise:
AD DEALS aids in dispute resolution under RERA’s framework by defending your interests before the relevant regulatory authority, mediators, or courts, assuring you of fair and favorable outcomes.

Protection Against Liability:
Our lawyers help you traverse the strict regulatory requirements in RERA, thereby reducing any possibility of penalties or liabilities. We ensure that you are always compliant, avert costly mistakes, and thus save your business from several pitfalls.

Customized Law Advice:
Each real estate project is different in nature and AD DEALS provides individualized legal assistance according to the particular profile of your business. The nature may be residential or commercial, or mixed utilization; in all such situations, you can expect solutions from us.

Proven Success:
AD DEALS is one of the most successful RERA registration, compliance, and dispute resolution service providers in real estate development, agencies, and businesses. We are always trusted by our clients due to our high expertise and commitment to results.

Time Required Under the Real Estate Law-RERA

The time is directly associated with the nature or issue complexity. Here, in the following lines is possible time scale for addressing different issues:

Registration of a real estate project in RERA usually takes four to eight weeks with necessary completion of documents and with regulatory authority approval.

Resolution of disputes
Disputes between developers and buyers related to delays, possession, or quality can be resolved much faster under RERA than in general litigation. Dispute resolution under RERA takes between 6 months to 1 year depending on the nature of the case and the complexity of the issues involved.

Defects Liability:
If the developer faces defects related to construction, then RERA resolution usually takes a few months to a year depending on the severity of the defects and the willingness of the parties involved to resolve the same.

Penalties and Non-Compliance Issues:
If a business commits any default under RERA, like failure to register a project or delay in possession, then it may take as long as 3 to 6 months to resolve such issues with the regulatory authority, depending upon the type of violation and corrective action taken.

The RERA law registers a real estate project and also includes the registration of agents. RERA law establishes regulatory authority in each state, therefore providing a framework for resolving issues in the sector.
This law is very essential when dealing with residential as well as commercial real estate sales. It applies to various builders, developers, estate agents, and all similar parties.
Some of its main provisions are underlined below:

Project Registration: Developers need to register all real estate projects with RERA before advertising or selling.
Project Details Disclosure: Developers have to disclose project details like project plans, completion dates, and timelines for possession.
Defects Liability: Builders have to rectify the structural defects of the property within five years from the date of possession.
Transparency in Payments: Developers are required to reveal the project’s financial details, including the source of funding, and are not allowed to alter the project’s specifications without the buyer’s consent.

How Real Estate Law (RERA) Impacts Business Firms in India

Real estate law, especially RERA, has a huge impact on business firms in the real estate industry. Here are some of the ways RERA impacts businesses:

Mandatory Project Registration:
Any business firm involved in real estate development or construction has to register their project with RERA. This includes residential, commercial, and mixed-use developments. If a project is not registered, the authority can impose fines or even suspend the project.

Transparency in Operations
RERA makes sure that developers give the necessary details about the project, including timelines, specifications, legal status, and dates of possession. This regulation will ensure that all dealings are transparent and trustworthy, hence creating consumer confidence for businesses.
Business houses need to be financially accountable, and RERA ensures that developers cannot make significant changes to the project specifications without buyer consent. That regulation safeguards consumer interests and protects businesses from litigation due to breach of contract or delayed delivery.

Mechanism of Dispute Resolution
RERA gives homebuyers as well as developers a systematically processed dispute resolution process. Hence, the possibility of protracted litigations is quite lesser, and business could gain a faster solution for most complaints about delay in completing projects, non-payment issues or quality-related problems.
Defects Liability
Project defects have to be rectified within five years from acceptance, and business houses will be required to keep tabs of this responsibility to steer clear of lawsuits by harassed homebuyers.
Compensatory Actions in case of Non-Compliance with Regulations
Non-compliance with RERA regulations can lead to penalty, cancellation of the projects, and legal disputes. For businesses, it will be a compliance with each and every aspect of law to avoid fines, reputation damage, and delay of projects.

Legal Support Needed from an Efficient Lawyer Under RERA for a Business Firm in India
An efficient lawyer specializing in real estate and RERA can provide legal support to a business firm in India as follows:

RERA Registration:
A lawyer helps businesses (developers and real estate agents) navigate the registration process for real estate projects and real estate agents with RERA. This includes preparation of the necessary documents and application to the regulatory authority.

Legal Compliance and Documentation:
Real estate businesses must comply with RERA’s provisions, such as project registration, financial disclosures, and timelines for project completion. A lawyer ensures that all documents, agreements, and legal filings comply with RERA’s regulations.

Contract Drafting and Review:
Lawyers draft and review various agreements related to real estate transactions such as sale agreements, joint venture agreements, construction contracts, and buyer-seller agreements. It is essential to ensure that these contracts are RERA compliant with regard to transparency and disclosure.

Dispute Resolution:
RERA also acts as a mechanism for resolving disputes between developers and homebuyers. A lawyer can represent the firm in cases related to project delays, defects, or non-compliance with project specifications. They can help settle disputes through RERA’s adjudicatory process or through mediation.

Protection Against Penalties:
A lawyer can advise businesses on how to avoid penalties under RERA, such as providing legal counsel on project delays, non-registration, or deviations from the committed specifications. Legal advice can help prevent costly legal disputes.

Advisory on RERA Regulations and Updates:
It happens in every law that is very dynamic, with amendments at several time intervals. A solicitor keeps the businesses aware of changes and guides them accordingly of implementing those changes into business processes to maintain compliance with regulations.