Although the real estate sector of Punjab is booming from the substantial investment of private builders, yet there were inconsistencies in this market. Thus, like most states in India, RERA Punjab was formed to promote transparency within its real estate sector.

Highlighting objectives of this authority

Among different benefits first time home buyers can experience with RERA in action, here are some of the functions that the Real Estate Regulatory Authority aims to perform –

  1. As per the policies of the RERA Act of Punjab, the authority vouches to create a transparent, competitive, and efficient environment for housing in the state of Punjab.
  2. The Act also oversees the sale of apartments and plots in a just manner.
  3. Real Estate Regulatory Authority of Punjab will protect the interest of home buyers and developers in the real estate market.
  4. Under the Act, real estate brokers and stakeholders are required to register their construction projects under RERA Punjab as a mandate. This is made compulsory so that the regulatory board can display the records regarding projects and stakeholders.

How to register your project?

Follow these steps to register under RERA:

  1. Head over to the official website of RERA Punjab and click on ‘Project Registration’.
  2. Confirm your position as a broker/developer/real estate agent in the next page.
  3. Fill in the application form and verify the CAPTCHA code.
  4. Click ‘Create User’.

With this information, you now have a complete insight of RERA Punjab. As for buyers purchasing a property, check if it is RERA compliant. Finally, opt for an affordable home loan to purchase your first property in Punjab.