Buying or Selling Property in 2025? Here’s What You Need to Know
If you are planning to buy, sell, or invest in property in 2025? New rules could affect your costs, ownership, and the safety of your deal. Following are the rules everyone must know:
Rule 1: RERA registration is mandatory for every project
RERA registration is the mandatory process for real estate developers and agents to register their projects and themselves with their state’s Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation and Development) Act, 2016. Builders must display their RERA number in advertisements. However, previously many projects were launched without proper registration, which resulted in delays and frauds.
Rule 2: Real Transparency in Pricing
Earlier, when you bought a house, you were paying not just for the space you actually lived in (your rooms, kitchen, and bathroom), but also for common areas like the lobby, stairs, elevator space, and even walls. So, you were paying for space you didn’t really “use.” However now you only have to pay where you actually lives in.
Rule 3: Digital Property Records
Property records are now stored digitally and on blockchain, which is like a super-secure online ledger. This means no one can fake or copy your property ownership. Because of this, there’s much less chance of fake papers or lost files, making buying and owning property much safer and easier.
Rule 4: Enhanced Buyer Protection Measures
If a builder delays handing over your home, RERA makes sure you can get compensation or even your money back. This law stops builders from holding your money hostage, so buyers now have more protection and rights.
Rule 5: Home Loans Made Simple and Fast
Banks are connected to digital property records, so getting a home loan is much faster and mostly paper-free. You don’t have to stand in long queues or worry about lost papers as everything is checked online and approved instantly.
Rule 6: Quicker Resolution of Disputes
Now, under RERA, property issues must be resolved within 90 days, so things happen much faster and you don’t have to wait long for resolution. Earlier, property disputes could take years to get solved in court
Rule 7: Aims on Green, Sustainable Housing
All new buildings now have to be eco-friendly. They must save energy, reduce waste, and be healthier for people and the environment.