RERA stands for the Real Estate (Regulation and Development) Act, a law enacted in India to regulate and promote the real estate sector. The act was introduced in 2016 to address the issues of transparency, accountability, and consumer protection in the real estate industry. RERA aims to bring about significant reforms in the real estate sector by establishing a regulatory authority in each state and union territory.
RERA mandates that real estate developers provide clear and detailed information about the projects they are undertaking, including project timelines, completion dates, and the status of approvals. This ensures that consumers have access to all the relevant information before making purchasing decisions.
RERA Certification is a mandatory registration for real estate developers and projects under the Real Estate (Regulation and Development) Act. It ensures that the developers comply with transparency, accountability, and consumer protection standards, giving buyers confidence in the legitimacy of the project.
Quarterly Return Filing refers to the submission of financial and operational details by businesses or individuals at regular intervals, typically every quarter. It includes details about income, tax payments, and other necessary compliance documents, ensuring adherence to tax and regulatory requirements.