<p>Before we break down the step-by-step process of filing a complaint in <a href="https://blox.xyz/blog/understanding-rera-details-key-benefits-and-features-of-the-real-estate-regulation-act">RERA</a>, it is essential to understand the Act in detail, from the reason for its existence to the benefits it provides to the customers.</p>

<h2><strong>What is the RERA Act?</strong></h2>

<p>The above abbreviation stands for the Real Estate Regulation Act, introduced by the government of India in 2016 to standardise specific regulations in the industry. An Act for the consumer and by the consumer, serving its purpose of protection from unfair and illegal practices adopted by developers and builders. To be followed in every state, the rules and regulations extend to residential and commercial property types.&nbsp;</p>

<h2><strong>Why was the RERA Act introduced?</strong></h2>

<p>Aiming to protect the interests of real estate buyers, here are some reasons for introducing the Act.</p>

<ul>
	<li>Developers and builders take responsibility.</li>
	<li>Encourage transparent and fair trade practices.</li>
	<li>A particular code of conduct is to be in place.&nbsp;</li>
	<li>Direct communication between the buyer and developer.</li>
	<li>Reduce all kinds of frauds and delays in projects.</li>
</ul>

<h2><strong>Benefits of the RERA Act</strong></h2>

<ul>
	<li>Bringing transparency into the system: The developers or builder need to furnish all the information possible to the buyer and not keep them in any loop. The seller party must inform their customers no matter how minor the detail is, from plan layout, execution, structural changes, and floor plan. The buyers have the right to know everything.</li>
	<li>Buyers need not pay for the built-up areas: Providing a sigh of relief for the home buyers, who are only required to pay for the carpet area, which is the net usable area between the walls. Expenses related to the area covered by the external walls, such as elevators, staircases, and lobby, are not borne by the buyer.&nbsp;</li>
	<li>Accountability for delays in projects: An age-old and one of the most common problems faced in the <a href="https://blox.xyz/blog/how-blockchain-is-transforming-the-real-estate-industry-in-2023">real estate industry</a> is the delay in possession of the property to the buyers. In case of delays, developers have to pay 2% above the lending rate of the SBI and could also serve a 3-year term in jail.&nbsp;</li>
	<li>Poor quality of construction or defects post-completion: A property need not have any structural defects for at least five years since gaining possession. However, if such a situation occurs, the developer must fix the error within 30 days of intimation without charging the buyers. &nbsp; &nbsp;&nbsp;</li>
	<li>Builders/developers cannot use buyers&rsquo; money on other projects: The RERA Act directs developers to deposit 70% of the finances received from the buyers into a separate escrow account. The builder can withdraw funds depending on the stage of construction and after receiving approval from the chartered accountants and engineers.&nbsp;</li>
	<li>Boost to the <a href="https://blox.xyz/blog/8-interesting-facts-to-know-about-the-indian-real-estate-sector">real estate sector</a>: The RERA Act is expected to boost the real estate sector by increasing the confidence of homebuyers in investing in real estate projects. It is also likely to attract more foreign investment in the sector due to increased transparency and accountability, helping the industry grow leaps and bounds</li>
</ul>

<h2><strong>Step-by-step guide on filing a complaint in RERA</strong></h2>

<p>The official RERA website has made filing a complaint stress-free and smooth. A buyer now may only fill out a form and pay the registration fee.</p>

<ul>
	<li>Registration of complaint: The aggrieved party may visit the official RERA website and search for the page of complaint registration.</li>
	<li>Fill in the details: Post clicking on the complaint registration link, the user will land on the complaint form, where they will be required to fill in the details: name, address, contact details, and project details.</li>
	<li>Payment of fee: After duly filling in the form, the complainant must pay a fee of ₹1,000 for filing the complaint and ₹5,000 when filing before the adjudicating officer.</li>
</ul>

<h2><strong>Filing a RERA complaint in Maharashtra</strong></h2>

<ul>
	<li>To file a complaint against registered projects and agents in Maharashtra, you must register as the first user on the MahaRERA website and fill out a form.</li>
	<li>In Maharashtra, the fee for filing a complaint is ₹5,000.</li>
</ul>

<h3><strong>Conclusion</strong></h3>

<p>The RERA Act serves as a much-needed lifer for real estate buyers, who for decades have dealt with various stresses when parking their money in real estate.&nbsp;</p>

<p>The key features of the RERA Act include mandatory registration of real estate projects, disclosure of all project-related information, including project status, layout plans, and completion timelines, and the establishment of a regulatory authority to oversee the act&#39;s implementation.</p>

<p>Overall, the RERA Act has been instrumental in promoting transparency and accountability in the real estate sector. It has given homebuyers greater confidence in investing in real estate projects and has helped reduce fraudulent practices in the sector. However, there is still a long way to go in fully implementing the act&#39;s provisions, and more needs to be done to address the challenges faced by the real estate sector in India.</p>

<p>In the real estate dynamic, picking between a 2 BHK and a 3 BHK home is similar to organising an ensemble of ventures. Every choice presents its own unique advantages and disadvantages thereby making the choice between them a confusing task. To make your task easier, we have curated this detailed blog to help you choose between 2 BHK to 3 BHK as per your requirements. So, without further ado, let&rsquo;s dive straight into the blog.</p>

<p>Vastu is an ancient Indian system of architecture and design that aims to create harmony between humans and nature by balancing the five elements - earth, water, fire, air and space.</p>

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<p>Kicking off 2024 on a high, Mumbai&rsquo;s real estate market is set to experience a reported 5% increase in its residential sector. Nevertheless, Premium properties continue to be a huge draw among homebuyers, courtesy of an increased standard of living among Mumbaikars. Flats in the commercial capital come in all shapes and sizes, from studios to affluent penthouses.</p>

Before we break down the step-by-step process of filing a complaint in RERA, it is essential to understand the Act in detail, from the reason for its existence to the benefits it provides to the customers.