Understanding the Power of PBRERA for Punjab Property Buyers
The Punjab Real Estate Regulatory Authority (PBRERA) was enacted under the national Real Estate (Regulation and Development) Act to protect homebuyers from fraudulent developers, unauthorized colony developments, delayed possession milestones, and arbitrary layout modifications.
🛡️ Golden Rule: Under Section 3 of RERA, no developer or promoter in Punjab can advertise, market, book, or sell any plot, apartment, or commercial building without a valid PBRERA Registration Number if the land exceeds 500 square meters or more than 8 apartments are constructed.
1. Step-by-Step Guide to Verify Any Project on PBRERA Online Portal
Follow these steps to conduct due diligence before depositing advance booking tokens:
- Visit the Official Portal: Open rera.punjab.gov.in.
- Navigate to Registered Projects: Click on Project Registration > Registered Projects.
- Search by Name or District: Enter the project name or select SAS Nagar (Mohali), Patiala, or Ludhiana.
- Examine the Project Dossier: Inspect:
- Promoter Details: Background, past delivery track record, and financial audits.
- Land Title & Encumbrance Certificate: Confirms clear land title free from bank mortgages or pending litigation.
- Sanctioned Building Plan: Compare the builder's marketing brochure against the officially approved floor maps.
- Committed Completion Date: The legal possession date committed under affidavit.
2. Key Protections Every Buyer Must Know
- 70% Escrow Account Mandate: Builders must deposit 70% of all customer funds into a dedicated scheduled bank escrow account utilized strictly for construction and land expenses.
- Carpet Area Standard: Properties in Punjab must be sold based on net Carpet Area (actual usable floor area) rather than misleading 'Super Built-Up Area'.
- 5-Year Structural Defect Warranty: Under Section 14(3), the developer is legally bound to rectify any structural defect or workmanship flaw free of charge within 30 days for 5 years after handing over possession.