Understanding RERA: How It Protects Home Buyers in Pune (2026 Guide)
For decades, buying a home in Pune was like gambling in a casino where the house always won. Builders in developing hubs like Wakad, Baner, and Undri would promise possession in "2 years," which often turned into 5 years. "Super Built-up Area" was a magical number that inflated the price while shrinking the actual living space. Homebuyers were at the mercy of one-sided agreements where the builder paid peanuts for delays, but the buyer paid 18% interest for late payments.
Enter the Real Estate (Regulation and Development) Act, 2016 (RERA). Implemented effectively in Maharashtra via MahaRERA, this law has fundamentally shifted the power dynamic from the builder to the buyer. In 2026, MahaRERA is arguably the most active and buyer-friendly regulatory body in India. But simply having a law isn't enough; you need to know how to use it.
This comprehensive guide explores the ground reality of RERA in Pune. We move beyond the legal jargon to explain exactly how it protects your hard-earned money, ensures timely delivery, and what you can do if a builder tries to take you for a ride.
1. The "Possession Date" is Sacred
Before RERA, "Possession in 2024" meant "Maybe 2026." Builders would give vague verbal assurances. Now, the date written in your Registered Agreement is the "Lakshman Rekha."
If the builder fails to hand over the keys by this date, they are liable to pay interest on every month of delay. This has forced builders in Pune to be more realistic.
Reality Check: Most builders now add a "Grace Period" of 6-12 months in the agreement (e.g., "Possession by Dec 2025 + 6 months grace"). Read the fine print. That "grace period" is often treated as the actual date.
2. Paying for "Carpet Area," Not Air
Remember the days of 35% "loading"? You paid for 1200 sq.ft. but got a 900 sq.ft. home. The rest was "Super Built-up" nonsense—lobby, lift, and imaginary space.
RERA killed this scam. Now, builders must sell based on Carpet Area only—the net usable floor area of an apartment. This makes comparing prices easier.
Pune Tip: If a broker in a developing area like Mahalunge or Mamurdi tries to sell you a flat based on "Saleable Area" or quotes a rate on "Super Built-up," walk away. He is trying to trick you.
3. The "10% Booking Amount" Rule
Legally, a builder cannot accept more than 10% of the total flat cost as an advance or application fee without entering into a registered Agreement for Sale.
Common Market Practice: Many builders demand 20% before registration. "Sir, pay 20% and we will lock the pre-launch rate."
Don't do it. If the project gets stuck or permissions don't come through, that extra 10% is unsecured debt. Stick to the 10% rule until the agreement is registered at the Haveli office.
4. What if the Builder Delays? (The Interest Clause)
If the builder misses the RERA deadline, you have two options:
- Withdraw from the project: The builder must refund your entire amount with interest.
- Stay in the project: The builder must pay you interest for every month of delay.
The interest rate is typically SBI MCLR + 2%.
Ground Reality in Pune: Builders hate paying cash. If there is a delay, they will try to "barter." They might offer you free car parking, waive the floor rise charges, or give you a furniture voucher instead of paying the interest. Calculate the math. Often, the cash interest is worth much more than a free modular kitchen.
5. Defect Liability (The 5-Year Warranty)
Think of this as a warranty for your home. Under RERA, if there is any structural defect or problem with quality (plumbing leaks, cracks, bad fittings) within 5 years of possession, the builder must fix it free of charge.
Advice: If you see seepage in your new flat in the first monsoon, don't call a local plumber. Send an email to the builder immediately. They are legally bound to fix it within 30 days.
6. How to Check a Project on MahaRERA
Never book a flat without checking the MahaRERA website. It is the only source of truth.
- Go to the MahaRERA website.
- Click on "Search Project Details" -> Select "Registered Projects".
- Enter the Project Name or RERA Number.
- Check "Litigations": This is the most crucial tab. If you see multiple complaints filed against the project, it's a red flag.
- Check "Completion Date": See the date they told MahaRERA, not the date the sales guy told you.
Conclusion
RERA is a powerful shield, but it is not a magic wand. It can ensure you get compensated for delays, but it cannot magically finish a building if the builder goes bankrupt. In Pune's fast-moving real estate market, your best defense is due diligence. Use RERA to verify, not just to rectify. Always check the RERA number and the builder's track record before handing over that cheque.
Frequently Asked Questions (FAQs)
Q: Can I sell my flat before possession?
A: Yes, but it's tricky. The builder may charge a "Transfer Fee" (often ₹100-₹500 per sq.ft.) to change the name in their records. RERA doesn't strictly cap this fee yet, so check your agreement clauses before booking.
Q: What if the builder changes the plan after I book?
A: He cannot make any major additions or alterations (like adding a floor or changing a garden to a parking lot) without the written consent of 2/3rds of the buyers.
Q: Does RERA apply to resale flats?
A: No. RERA applies only to the "First Sale" from the builder to the buyer. If you are buying a resale flat in Kothrud from a previous owner, RERA rules do not apply; standard contract law does.
Q: Is the RERA website data always accurate?
A: Builders are required to update it quarterly. However, some are lazy. If the "Last Modified" date on the project page is a year old, be cautious. It means the builder isn't reporting progress.
