If you're planning to buy property or start a real estate project in Goa, navigating the legal landscape can be challenging. Homebuyers are often concerned about project delays, hidden costs, and unclear builder commitments. Developers, on the other hand, often face bureaucratic hurdles and compliance issues. This is where the Goa Real Estate Regulatory Authority (Goa RERA) plays a crucial role.

In this guide, you'll learn how Goa RERA helps protect your interests, ensures transparency, and provides a clear process for registration and complaint resolution.​

Importance of Goa RERA

The Goa Real Estate Regulatory Authority was established under the Real Estate (Regulation and Development) Act, 2016, to bring transparency and accountability to the real estate sector in the state. It ensures that all real estate projects and agents are registered and adhere to the prescribed norms, thereby protecting the interests of homebuyers and promoting fair practices among developers.​

Functions of Goa RERA

Goa RERA performs several key functions:

• Project and Agent Registration: Makes sure that all real estate projects and agents operating in Goa are registered and comply with the regulations.
• Information Disclosure: Mandates that developers provide detailed information about their projects, including timelines, approvals, and financials, which is made available to the public.​
• Complaint Redressal: Provides a platform for homebuyers and other stakeholders to file complaints against developers or agents for non-compliance or grievances.​
• Monitoring and Compliance: Regularly monitors registered projects to ensure adherence to the declared timelines and quality standards.​

Goa RERA Act Rules and Regulations

The Goa RERA operates under the Real Estate (Regulation and Development) Act, 2016, and the Goa Real Estate (Regulation and Development) Rules, 2017. These rules outline the procedures for registration, the responsibilities of promoters and agents, and the mechanisms for dispute resolution. They also specify the penalties for non-compliance, ensuring that all stakeholders remain accountable.​

Benefits for Different Stakeholders on RERA Goa

• Homebuyers: Gain access to verified data about projects, ensuring informed decision-making and protection against fraud.​
• Developers: Benefit from a streamlined registration process and clear guidelines, which help in building trust with customers.​
• Real Estate Agents: Achieve credibility through mandatory registration, which can lead to increased business opportunities.​
• Government: Can effectively monitor and regulate the real estate sector, ensuring compliance and addressing issues promptly.​

Key Features of RERA Goa

• Mandatory Registration: All eligible real estate projects and agents must register with Goa RERA before commencing operations.​
• Transparency: Developers are required to disclose project details, including timelines, approvals, and financials, on the Goa RERA website.​
• Grievance Redressal: Provides a platform for stakeholders to file complaints and seek timely resolution.​
• Financial Discipline: Developers must deposit 70 % of the project funds in a separate bank account, ensuring funds are used appropriately.​
• Regular Updates: Promoters are obligated to provide quarterly updates on project status, keeping buyers informed.​

How to Register for Goa RERA

Follow these steps for Goa RERA registration of a project or as an agent:

• Visit the Official Website: Access the Goa RERA portal.
• Select Registration Type: Choose between project registration or agent registration.
• Fill in the Details: Complete the online form with accurate information.
• Upload Documents: Submit the required documents in the specified format.
• Pay the Fee: Make the payment as per the fee structure.
• Submit the Application: After submission, you'll receive an acknowledgement with a reference number.​

*Please refer to the official RERA Goa website for the most up-to-date information on the registration process and fees.

Documents Required for Goa RERA Registration

For Project Registration:

• PAN card of the promoter
• Legal title deed and other ownership documents
• Project plan approvals and sanctioned layout
• Estimated project cost and delivery timeline
• Details of the project-specific bank account

For Agent Registration:

• PAN card and Aadhaar card
• Address proof
• Photograph of the agent
• Business registration documents, if applicable.

*Additional documents may be requested on a case-by-case basis.

Eligibility Criteria to be a Part of Goa RERA

• For Promoters: Any individual or company developing a real estate project with land exceeding 500 sq. metres or more than 8 apartments must register under the Goa RERA.
• For Agents: Individuals or entities facilitating the sale or purchase of real estate properties in Goa are required to register as agents.​

Apply Now

How to File a Complaint with RERA Goa

If you have a grievance against a developer or agent:

• Visit the Official Website: Go to the official Goa RERA website.
• Navigate to the Complaint Section: Click on the ‘Real Estate Complaint Registration' link.​
• Fill in the Details: Provide accurate information about the complaint.​
• Upload Supporting Documents: Attach any relevant documents or evidence.​
• Submit the Complaint: After submission, you'll receive a reference number to track the status of your complaint.​

Conclusion

Navigating the real estate landscape in Goa becomes more straightforward with the Goa Real Estate Regulatory Authority in place. Whether you're a developer aiming to meet compliance requirements or a homebuyer seeking transparency and protection, understanding Goa RERA’s processes is crucial. Being informed allows you to make better decisions and contributes to a more accountable and transparent real estate ecosystem. If you're planning to buy a home in Goa, consider SMFG Grihashakti’s home loan offerings. With competitive interest rates, flexible repayment tenures, and a fully online application process, we aim to make your journey to homeownership easier.

Check your eligibility and apply online for home loan amounts of up to INR 1 crore* or up to 90%* of the property’s value.