When it comes to buying a home, especially in a dynamic and rapidly developing region like Noida, one of the biggest concerns for homebuyers has always been trust. Delays in project delivery, misleading advertisements, or lack of project approvals have left many buyers stranded. That’s exactly why the Real Estate (Regulation and Development) Act, 2016, better known as RERA, was introduced.
In this blog, we’ll explore what RERA is, how it works, and more importantly, how it safeguards homebuyers in Noida—one of India’s top real estate markets.
What is RERA?
The Real Estate (Regulation and Development) Act, enacted in May 2016 and enforced from May 1, 2017, is a central law aimed at regulating the real estate sector and protecting the interests of homebuyers.
Each state has its own RERA authority. In Uttar Pradesh, including Noida and Greater Noida, the governing body is UP-RERA (Uttar Pradesh Real Estate Regulatory Authority).
Key Objectives of RERA
RERA was implemented to bring more accountability, transparency, and fairness to the real estate sector. The main goals include:
Ensuring timely delivery of projects
Protecting homebuyers from fraudulent practices
Making project and builder details publicly accessible
Establishing a dispute resolution mechanism
Regulating builders, developers, and real estate agents
Why RERA is Important for Noida Homebuyers
Noida has seen a boom in real estate development, but it’s also been affected by project delays and builder disputes in the past. RERA has become a vital protection mechanism for homebuyers in this market.
Here’s how:
1. Mandatory Registration of Projects and Agents
Under RERA, all residential and commercial real estate projects over 500 sq.m. or with more than eight units must be registered with the respective RERA authority before advertising or selling.
Builders in Noida are now required to register with UP-RERA and disclose project timelines, approvals, land ownership status, and more.
Even property agents must register, ensuring they are held accountable for misrepresentation.
Benefit for Buyers: You can now verify the authenticity of a project or broker before investing.
Visit UP-RERA Official Website to check project registration and builder details
2. Transparency in Project Information
Every RERA-registered builder must update project status regularly, including:
Construction progress
Approvals and permits
Sales status
Expected completion dates
This information is publicly available on the RERA portal, giving buyers full visibility into the project’s status.
Benefit for Buyers: Say goodbye to vague updates. Now you have access to real-time project information.
3. Timely Delivery is Legally Enforced
Delayed possession is one of the most common complaints from homebuyers. RERA mandates that developers clearly mention the project delivery date during registration—and stick to it.
If a builder fails to deliver on time, they are liable to compensate the buyer with interest on the invested amount.
Benefit for Buyers: Legal support for project delays and compensation for financial loss.
4. Advance Payment Restriction
Before RERA, developers could demand huge advance payments without much accountability. Now, under RERA:
Developers can’t collect more than 10% of the total property cost as advance before signing a sale agreement.
Benefit for Buyers: Your money is protected from misuse before a legal agreement is in place.
5. Separate Bank Accounts for Project Funds
To avoid fund diversion across multiple projects (a common issue in Noida previously), RERA mandates that:
70% of the funds received from buyers must be deposited in a dedicated escrow account.
These funds can only be used for the construction and land cost of that specific project.
Benefit for Buyers: Builders can’t use your money for unrelated projects.
6. Standardization of Sale Agreements
To avoid fund diversion across multiple projects (a common issue in Noida previously), RERA mandates that:
70% of the funds received from buyers must be deposited in a dedicated escrow account.
These funds can only be used for the construction and land cost of that specific project.
Benefit for Buyers: Builders can’t use your money for unrelated projects.
7. Accountability for Quality of Construction
RERA requires developers to fix any structural or quality issues reported within 5 years of possession, at no extra cost, within 30 days.
✅ Benefit for Buyers: Protection against poor construction quality.
How to Check if a Project in Noida is RERA-Approved
It’s easy to verify. Just follow these steps:
Visit https://www.up-rera.in
Click on “Registered Projects”
Enter project name, developer name, or location
View details including approvals, progress, and RERA ID
Always make sure your next property investment is RERA-registered.
Final Words: RERA is a Boon for Noida Homebuyers
If you’re planning to invest in a property in Noida, RERA is your strongest legal shield. It ensures you deal with credible developers, get timely possession, and receive exactly what was promised.
At Projexis, we deal only in RERA-approved properties and guide our clients throughout the homebuying process. Our team ensures you choose the right project, in the right location, at the right price—while staying fully protected under the law.
Need Expert Help? Contact Projexis – Your Trusted Noida Property Dealer
📍 Address: Chandra Heights, Plot No. 694M–696M, Main Dadri Road, Sector 107, Noida
📞 Phone: +91 97162 32323
✉️ Email: [email protected]
Your dream home is just a call away—with the security of RERA and the support of Projexis.
