Introduction of the Real Estate Regulatory Authority (RERA) provided home buyers with a set of rights. Enlisted below are a few of them that one needs to keep in mind:

• It is mandatory for builders to register themselves under RERA, which reduces the possibility of fraud builders trying to cheat home buyers.

• Unless the builder is registered and receives approval from the regulator, he is not allowed to advertise his project in any form. This is a huge relief to the buyer as he can be assured that he is viewing advertisements of only certified projects.

• Booking amount has been reduced from 20% to 10% of the total amount. This puts less pressure on buyers and gives them more time to arrange for funds.

• The buyer has been given the right to know all details of stage-wise completion of the project.

• Huge fines and penalties are implied on builders if they fail to deliver the project on time. This protects the buyer from getting late possession, which use to be a pain point for Indian real estate buyers.

• The builder is made more responsible for the quality of construction. RERA makes it the builders liability to rectify within 30 days if any flaws occur until five years of possession.