RERA stands for Real Estate Regulation Act. It was enacted in 2016 by the Government of India, Ministry of Law and Justice (Legislative Department). It aims at protecting the interests of home buyers against builders and agents who were using unfair practices to exploit potential buyers. It mainly stipulates builders to register future and ongoing projects as well as gives guidelines for real estate agents to do RERA Agent registration and Promoters to do RERA Promoter Registration.

Under regulations set by RERA 2016, All real estate agents who wish to facilitate the sale and purchase of property/ land/ proposed projects have to do RERA Agent Registration. Real estate agents include the likes of property dealers, brokers, middlemen etc. RERA registration is required if an agent wishes to advertise or invite to sell an apartment/plot in the proposed project

To successfully accomplish RERA Agent Registration, an agent(dealer, broker, middleman) should have a RERA registered project which has ben deemed fit for advertisements or invitations to sell by RERA rules.

RERA Promoter Registration is basically is a measure taken by the governement to improve the accountability of promoters(developers or builders) towards real estate property seekers. Promoters have to register themselves under RERA with an application to the respective RERA office. Along with the application, promoters have to disclose their personal details as well as details of projects launched in the past 5 years. The promoter has to maintain a ‘separate account’ for every project undertaken wherein 70 percent of the money received from the buyers shall be deposited

In order to execute a successful RERA Promoter Registration, A promoter should have a proposed plot of land either purchased or given appropriate permissions from owners to build a project on, details of the previous projects launched. In addition to this, promoters should maintain a separate account in which 70% of the money received from buyers should be deposited