The Delhi Real Estate Regulatory Authority (RERA) has announced a significant step towards ensuring transparency and accountability in the real estate sector. Builders and developers will now be required to advertise and sell their residential projects solely based on the carpet area. This landmark decision aims to protect homebuyers from misleading marketing practices and provide them with a clear understanding of what they are purchasing.
The carpet area, as defined by RERA, is the net usable floor area within the walls of a property, excluding balconies, open terraces, and common areas. This change eliminates the ambiguity caused by terms like “super built-up area,” which often included spaces such as lobbies, staircases, and amenities, leading to inflated property pricing.
By making it mandatory for developers to disclose and sell projects based on carpet area, Delhi RERA seeks to build trust between buyers and developers. This move will also empower homebuyers to make informed decisions, ensuring they get what they pay for.
Developers are required to update their marketing materials, brochures, and sales agreements to reflect the carpet area. Non-compliance will attract strict penalties, reinforcing RERA’s commitment to promoting fair practices in the real estate market.
