Builders' performance and project details will soon be easier to track on RERA websites across the country

Homebuyers in India will soon have seamless access to crucial housing project details and builder performance reports with just a click. This new initiative aims to enhance transparency and empower buyers with informed decision-making before investing in a property.

The Real Estate Regulatory Authorities (RERA) across India are set to adopt a uniform IT platform and website, enabling easy navigation and access to project status updates. Currently, each state RERA maintains separate websites with varying formats, making it cumbersome for buyers to track builder credentials and project progress.

How Will This Benefit Homebuyers?

With the upcoming integrated RERA platform, buyers can:

1. Check project statuses of residential and commercial developments nationwide.

2. Compare builders' track records across different states.

3. Easily navigate a standardized, user-friendly interface.

The Ministry of Housing and Urban Affairs, in collaboration with the All India Forum of Real Estate Regulatory Authorities (AIFORERA), is finalizing the framework for this initiative. The goal is to create a centralized real estate data repository that benefits buyers, regulators, and industry stakeholders.

“This will streamline access to essential project information and assist regulatory authorities in enforcing the law more efficiently,” said Chairman of AIFORERA and Delhi RERA.

Ensuring Builder Transparency

Under RERA regulations, all real estate projects must be registered and their progress tracked. This interlinked data system will offer buyers a comprehensive view of all projects by a builder, including those with poor track records.

“To make this truly beneficial, all projects by a builder should be grouped together transparently. Many developers create separate entities (SPVs) for different projects, which can obscure negative track records,” said member of the Central Advisory Council.

A Win-Win for Buyers and Regulators

By providing real-time, reliable property information, this initiative is expected to boost consumer confidence and streamline real estate transactions. The centralized RERA platform will ultimately simplify compliance, improve governance, and ensure greater accountability in India's real estate sector.

By LNN (Liyaans News Network)