Every residential project in India above a small size has to be registered with the state's Real Estate Regulatory Authority before it can be advertised or sold. The registration number is the first thing to check, and it should appear on the project's website and in every advertisement.
What registration covers. To register, a developer files the project's approvals, layout, timeline and land title details with the authority. These become public on the state RERA website, so you can compare what you are told with what was filed.
Your money is ring-fenced. The law requires the developer to keep 70 percent of the money collected from buyers in a separate bank account, used only for the land and construction cost of that project.
You pay for carpet area. Prices must be quoted on carpet area, the usable floor area inside the walls, so two projects can be compared on the same basis.
Advances are capped. A developer cannot take more than 10 percent of the cost as an advance before signing a registered agreement for sale.
Defects are covered. If a structural defect appears within five years of possession, the developer must fix it at no cost to you.
Where to check. Karnataka projects: rera.karnataka.gov.in. Andhra Pradesh projects: rera.ap.gov.in. Search by the registration number or the project name.
At Sri Shilpa, no project is advertised and no booking is taken before its RERA number is issued. The number appears on each project page the day it is.
This article is general information, not legal advice.