In this episode of the Happy Home Loan Podcast by Aditya Birla Housing Finance Ltd., we unpack how the Real Estate (Regulation and Development) Act, 2016 (RERA) strengthens accountability while empowering homebuyers to make informed decisions. Consumer advocate Adv. Shirish Deshpande explains how RERA regulates promoters, what registration really signifies, and where its scope has limits, especially in smaller or exempt projects, highlighting why due diligence remains essential.
The conversation covers key buyer protections, including safeguards against misleading advertisements under Section 12, financial discipline to prevent fund diversion, and remedies available in case of project delays under Section 18. Learn what options buyers have if possession is delayed, including refunds, interest, or compensation, and what to consider before continuing with a project.
We also explore important post-possession rights, such as timely conveyance, defect liability, society formation, and the legal risks of taking possession without an occupation certificate. Additional insights include understanding carpet area changes, appeal requirements, resale buyer protections, and verifying clear title and approvals before purchase.
Whether you are buying your first home or adding to your portfolio, this episode offers practical, real-world guidance to help you navigate property decisions with clarity and confidence.
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Chapters
02:27 RERA Explained: Buyers vs Builders
05:32 RERA Rules on Ads & Fund Safety
14:48 RERA Delay Rules: Exit & Compensation
25:01 Society Formation Law (India)
27:07 Carpet Area Mismatch Rights
28:26 How to Check Property Title
33:00 Registration vs Ownership Explained
34:35 Negotiating Property Price & Timeline
37:59 How to Check Developer Track Record
38:28 What is Clear Title?
41:17 Force Majeure in Real Estate
44:53 Key Legal Term Every Buyer Must Know
50:03 When to Hire a Property Lawyer