What are RERA buyer rights?

RERA for the first time codified a comprehensive set of rights for homebuyers establishing them as protected stakeholders rather than merely paying customers in real estate transactions.

Key Rights of Buyers Under RERA

• Right to information: Access all project documents, approvals, layout plans, and progress updates on the RERA portal.
• Right to carpet area pricing: Developers must sell on carpet area not super built-up area.
• Right to possession on time: Developer must adhere to the RERA-registered possession date.
• Right to interest on delay: If possession is delayed, developer must pay interest (SBI MCLR + 2%) per month of delay.
• Right to structural warranty: 5-year defect liability on structural quality post possession.
• Right to refund: Full refund with interest if developer fails to deliver.
• Right to grievance redressal: File complaint with RERA authority adjudication within 60 days.

Buyer Obligations Under RERA

Buyers also have obligations paying instalments on schedule, accepting possession when ready, participating in formation of RWA, and complying with the sale agreement terms.

RERA buyer rights represent a paradigm shift in India's real estate market from a caveat emptor (buyer beware) to a developer-accountability framework. Buyers must actively exercise these rights: verify project disclosures, track construction progress, and file RERA complaints promptly when commitments are not honoured.