RERA approval is mandatory for all real estate projects in Tamil Nadu, India, including commercial and residential properties. RERA approval is designed to protect homebuyers’ interests and regulate the real estate sector. All real estate projects must register with the respective state’s RERA authority before launching them.
The registration process of RERA approval involves submitting all the relevant details of the project, including the title deed, layout plan, and other approvals from the concerned authorities. As per the Tamil Nadu Real Estate (Regulation and Development) Rules, 2017, RERA approval is mandatory for all real estate projects, including plots, apartments, and buildings. Any real estate project that involves the sale of land or plots, of more than 500 square meters, must be registered with the Tamil Nadu RERA authority. However, if the plot is less than 500 square meters, RERA approval is optional.
Benefits of RERA approval:
RERA approval provides many benefits for both homebuyers and developers. Some significant benefits of RERA approval for plots in Tamil Nadu are:
- Transparency
- Accountability
- Timely delivery
- Interest on Delayed Payment
Consumer Protection One must note that RERA registration is not required to sell or transfer individual plots. If the plot is sold individually and not as part of a larger real estate project, RERA approval is not necessary. RERA registration is required in Tamil Nadu. These project types include any projects occurring on land that is larger than 500 square meters. RERA registration applies to both residential and commercial real estate properties. Despite mandatory RERA approval, there have been several cases of RERA complaints in Tamil Nadu. The complaints are mostly related to the delay in possession, quality of construction, and lack of transparency.
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