1.What is RERA, and does it apply to real estate projects in Indore?
RERA (Real Estate Regulation and Development Act) ensures transparency and accountability in the real estate sector. It applies to all projects in Indore, requiring mandatory registration of ongoing and new projects with the Madhya Pradesh Real Estate Regulatory Authority.
2.How can I check if a property in Indore is RERA registered?
Visit the Madhya Pradesh RERA website, search using the project name or registration number. Registered projects provide details like approvals, timelines, and developer information.
3. What are the key responsibilities of a builder under RERA in Indore?
Builders must ensure timely project completion, adherence to approved plans, and resolution of structural defects within five years. They must also register projects and disclose financial and project details to buyers.
4. Are real estate agents in Indore required to register under RERA?
Yes, all real estate agents in Indore must register with MP RERA. Agents should provide their RERA registration number in transactions to ensure legal compliance.
5. What should a buyer verify before purchasing a property in Indore?
Buyers must check the property’s RERA registration, verify land titles, and review approvals like building permits, commencement, and occupancy certificates.
