RERA Haryana has significantly impacted real estate transactions in Gurgaon by enhancing transparency, accountability and consumer protection. RERA mandates that developers register their projects with the Haryana Real Estate Regulatory Authority before advertising or selling them. This ensures that all projects comply with legal standards and provide buyers with detailed information, including approved plans and timelines for completion, which helps buyers make informed decisions and mitigates the risk of fraud​​.

A crucial benefit of RERA Haryana is the guarantee of timely possession. Developers are held accountable for delays, with provisions for penalties and compensation to homebuyers if the project is not completed as scheduled. This has notably reduced the incidence of project delays in Gurgaon, ensuring that homebuyers either receive their properties on time or are compensated for any delays​.

Financial transparency is another key aspect. RERA Haryana requires developers to deposit 70% of the funds collected from buyers into a separate escrow account. This measure ensures that the funds are used exclusively for the project’s development, preventing misuse and fostering financial discipline within the real estate sector​.

Moreover, RERA Haryana provides a robust dispute resolution mechanism. Homebuyers can file complaints against developers, which are addressed by the regulatory authority within a specified timeframe. This system ensures that disputes are resolved efficiently, protecting the interests of homebuyers and enhancing trust in the real estate market​.