The Real Estate (Regulation and Development) Act, 2016, implemented in Gujarat through GujRERA, is one of the most important consumer protection frameworks ever introduced in Indian real estate. If you are buying property in Ahmedabad, understanding what RERA guarantees you is essential.
Under RERA, all developers launching residential or commercial projects above a certain size threshold must register the project with the Gujarat Real Estate Regulatory Authority before advertising, marketing, or accepting bookings. This single requirement has eliminated entire categories of fraudulent projects from the market.
RERA mandates that 70% of the funds collected from buyers must be deposited in a separate escrow account and used exclusively for construction and land costs of the specific project. This ring-fencing of funds addresses the most common cause of project delays in the pre-RERA era — fund diversion to new projects.
Developers must disclose the carpet area, project layout, approvals, and construction timelines clearly in RERA filings, and buyers have the right to receive possession by the committed date. If a developer delays beyond the registered completion date, buyers are entitled to interest on their invested amount.
The GujRERA portal (rera.gujarat.gov.in) allows any buyer to search for a project by registration number or developer name, view approved plans, track construction progress updates, and check for any complaints filed against the developer. Spend fifteen minutes on this portal before signing any agreement — it could save you years of litigation.
All RERA-registered real estate agents and brokers are also required to be individually registered, adding accountability to the advisory side of the transaction. Prosperia Realty is a RERA-registered brokerage, ensuring that every transaction we facilitate meets the full compliance framework that Gujarat’s homebuyers deserve.