RERA means Real Estate Regulatory Authority. It was established as an Act in 2016 by the Parliament of India. The primary objective of RERA is to safeguard the buyers of plots from any kind of fraudulent activities and to contribute to the growth of real estate investments.
RERA offers transparency, accountability and safeguard to the buyers of plots, apartments and flats. It is applicable not only in Gurgaon but all over India. However, a specific set of rules has been made for each state.
The act plays a crucial role in building the trust and confidence of the buyers in the builders involved in the construction of the project. Once a project gets registered under RERA, the level of trust and confidence in that project increases due to the established reputation of this act over the years.
The RERA act has several features such as transparency for the buyers and trying to maintain the customer’s protection which ultimately increases the trust and confidence of the customers in the builders. Projects registered under the act provide timely delivery of projects and Right to Information about the plots to be bought.
The security quotient is mainly considered as more than 70% of the money is kept in a special account which can be used in the event of an emergency. RERA Approved Projects in Gurgaon provide a proper quality which means that the developers involved in the building process will resolve any problems that customers may face in the next 5 years of purchase. In addition to all these, buyers are given the utmost authorization with proper rules and rules with all the necessary information. The bankruptcy risk is also reduced under the act.
There are many RERA approved plots all over India, but Gurgaon has the highest number of plots in the country. The first thing that developers think about is RERA registration process, as it offers various benefits to both the developers and buyers. There are nearly 600 RERA approved projects in the Gurgaon area, including the Godrej zenith, which will be launched in the near future, smart world the Edition, which is an under construction project, which will be finished in 2031, puri diplomatic residents, which is under construction and will be finished this year, DLF privateana is among the newly launched projects that will be finished in the year 2026, elan the presidential is among the under construction projects that will finish this year, m3M capital is among the under-construction projects that will finish in 2026.
These are just a few of the projects, and there are many more located in Gurgaon that offer the various facilities and benefits of the RERA act.
Affordable plots in RERA approved under the act include both high-priced and low-cost plots. However, the low-cost plots tend to be more in demand than the high-priced ones. Below are some examples of affordable plots approved under the act:
WATTHAN PLACE 106 Gurgaon
This plot starts at 1.10 Lakhs per square yard.
True Habitat Luxe Residential 112 Gurgaon
The plots in these projects start at 1.69 Lakhs per sq. yard.
JMS The Pearl sector 95 Gurgaon
These plots start at 90000 per square yard
Irene Sarvannah sector 35 Gurgaon