Delhi RERA New Guidelines: What Are the Key Changes?
NEW DELHI: Big changes are on the way for Delhi’s real estate industry, as the Delhi RERA new guidelines are set to be released in the coming weeks. This update was shared by Anand Kumar, Chairman of Delhi RERA, during a recent conference held by NAREDCO’s Delhi chapter.
At the event, Harsh Vardhan Bansal, President of NAREDCO Delhi, spoke about forming new sub-committees and gathering feedback from the industry to help shape the LG Task Force. It’s clear that the goal of these upcoming guidelines is to make the real estate sector more efficient, transparent, and buyer-friendly.
One of the major changes expected is around how properties are marketed. Kumar pointed out that many builders currently advertise properties based on super built-up area rather than the more accurate carpet area. Under the Delhi RERA new guidelines, all marketing materials will need to clearly mention the carpet area, so buyers can know exactly what they’re getting. This will be a key feature, ensuring transparency in property sales.
Kumar also shared his support for extending an exemption from the GRAP (Graded Response Action Plan) measures to all registered projects. Builders will have the chance to submit their cases to the Commission for Air Quality Management (CAQM) for approval. Extensions won’t be given if GRAP measures have been in place for less than three days, but longer periods may qualify if all necessary documents are provided.
For those builders who have yet to register their projects with Delhi RERA, Kumar had a strong message: action will be taken soon. He encouraged NAREDCO Delhi to ensure that all members and builders register their projects with the authority. “We are closely monitoring projects across the city and will be taking action against anyone not in compliance,” he warned. Builders must stay updated to avoid penalties under the Delhi RERA new guidelines.
In conclusion, Kumar reassured everyone in the real estate community that Delhi RERA is open to hearing their concerns and will pass on any relevant suggestions to the central government to help improve the industry as a whole. The introduction of these Delhi RERA new guidelines is seen as a positive step toward a more regulated and transparent real estate market in the city.
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