100 IMPORTANT MULTIPLE CHOICE QUESTIONS WITH ANSWERS RELATED TO RERA
- What does RERA stand for?
a) Real Estate Regulatory Act
b) Residential Establishment Regulatory Act
c) Real Estate Regulation Authority
d) Residential Estate Regulation Act
Answer: a) Real Estate Regulatory Act - RERA was enacted by which legislative body?
a) Parliament of India
b) State Legislative Assemblies
c) Ministry of Housing and Urban Affairs
d) Ministry of Law and Justice
Answer: a) Parliament of India - When was RERA enacted?
a) 2013
b) 2014
c) 2015
d) 2016
Answer: d) 2016 - RERA aims to regulate which sector?
a) Education
b) Healthcare
c) Real estate
d) Information technology
Answer: c) Real estate - Which authority is responsible for implementing RERA at the state level?
a) Ministry of Housing and Urban Affairs
b) Real Estate Regulatory Authority (RERA)
c) State Real Estate Regulatory Authority (RERA)
d) Central Bureau of Investigation (CBI)
Answer: c) State Real Estate Regulatory Authority (RERA) - What is the primary objective of RERA?
a) To protect the rights and interests of homebuyers
b) To promote real estate investments
c) To increase property prices
d) To provide tax benefits to real estate developers
Answer: a) To protect the rights and interests of homebuyers - RERA requires developers to register their projects with the regulatory authority if the project exceeds how many square meters?
a) 500 sq. meters
b) 1,000 sq. meters
c) 2,000 sq. meters
d) 5,000 sq. meters
Answer: c) 2,000 sq. meters - How many days does the developer have to provide the homebuyer with necessary documents after the project is registered under RERA?
a) 7 days
b) 15 days
c) 30 days
d) 45 days
Answer: b) 15 days - Under RERA, developers are required to deposit a minimum of what percentage of the project’s cost in a separate escrow account?
a) 20%
b) 30%
c) 40%
d) 70%
Answer: d) 70% - RERA mandates that developers cannot accept more than what percentage of the apartment’s cost as an advance payment before entering into a registered agreement for sale?
a) 10%
b) 20%
c) 30%
d) 50%
Answer: b) 20% - How many days does the developer have to rectify any defects or issues highlighted by the homebuyer after receiving the occupancy certificate?
a) 30 days
b) 60 days
c) 90 days
d) 120 days
Answer: c) 90 days - RERA provides for the establishment of a real estate appellate tribunal at the state level. What is the time limit for disposing of complaints by the tribunal?
a) 60 days
b) 90 days
c) 120 days
d) 180 days
Answer: c) 120 days - Which of the following is not a penalty that can be imposed under RERA?
a) Monetary fine
b) Imprisonment
c) Project cancellation
d) Public apology
Answer: d) Public apology - RERA mandates that real estate agents must register themselves with the regulatory authority if their annual property transaction value exceeds what amount?
a) Rs. 10 lakh
b) Rs. 20 lakh
c) Rs. 50 lakh
d) Rs. 1 crore
Answer: c) Rs. 50 lakh - RERA provides for the establishment of a real estate regulatory authority at the state level. Who appoints the members of this authority?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: b) State government - What is the penalty for non-compliance with RERA registration requirements?
a) Imprisonment for up to 3 years
b) Monetary fine up to 10% of the project cost
c) Cancellation of the project
d) All of the above
Answer: d) All of the above - RERA requires developers to provide what information to the homebuyers regarding the project?
a) Carpet area
b) Project layout and specifications
c) Timelines for completion and delivery
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority at the central level. Who appoints the members of this authority?
a) Ministry of Housing and Urban Affairs
b) Prime Minister of India
c) President of India
d) Chief Justice of India
Answer: a) Ministry of Housing and Urban Affairs - What is the penalty for non-compliance with the orders of the real estate appellate tribunal?
a) Imprisonment for up to 1 year
b) Monetary fine up to 5% of the project cost
c) Both a) and b)
d) There is no penalty for non-compliance with tribunal orders
Answer: c) Both a) and b) - RERA provides for the establishment of a real estate regulatory authority in each state. Who is the chairperson of this authority?
a) Chief Minister of the state
b) Minister of Housing and Urban Affairs
c) State Chief Secretary
d) Appointed by the state government
Answer: d) Appointed by the state government - RERA provides for the establishment of which authority at the state level?
a) Real Estate Regulatory Authority (RERA)
b) Real Estate Appellate Tribunal (REAT)
c) Real Estate Regulatory Committee (RERC)
d) Real Estate Regulatory Authority (RERA) and Real Estate Appellate Tribunal (REAT)
Answer: d) Real Estate Regulatory Authority (RERA) and Real Estate Appellate Tribunal (REAT) - What is the maximum time period within which the developer must deliver possession of the property to the buyer as per RERA?
a) 1 year
b) 2 years
c) 3 years
d) 5 years
Answer: c) 3 years - RERA provides protection to which category of buyers?
a) Only individual buyers
b) Only corporate buyers
c) Both individual and corporate buyers
d) Only government buyers
Answer: c) Both individual and corporate buyers - Which of the following documents must be disclosed by the developer as part of the registration process under RERA?
a) Title deed
b) Encumbrance certificate
c) Sanctioned plan, layout plan, and specifications
d) All of the above
Answer: d) All of the above - RERA mandates that the developer cannot make any changes to the sanctioned plan, layout plan, and specifications without the consent of the:
a) Local municipality
b) State government
c) Homebuyers’ association
d) Homebuyer
Answer: d) Homebuyer - RERA requires developers to provide a 5-year warranty against structural defects. What is the penalty if the developer fails to rectify such defects within this period?
a) Monetary penalty
b) Imprisonment
c) Both a) and b)
d) Cancellation of the project
Answer: c) Both a) and b) - In case of delay in project completion, RERA mandates the developer to compensate the homebuyer at what rate?
a) 6% per annum
b) 8% per annum
c) 10% per annum
d) 12% per annum
Answer: d) 12% per annum - Which of the following transactions is exempt from the purview of RERA?
a) Sale of agricultural land
b) Sale of industrial properties
c) Sale of commercial properties
d) All of the above
Answer: d) All of the above - RERA requires the developer to maintain separate bank accounts for each project. What is the purpose of these accounts?
a) To ensure transparency in financial transactions
b) To monitor the progress of the project
c) To protect homebuyers’ interests
d) All of the above
Answer: d) All of the above - RERA allows homebuyers to claim refund with interest and compensation in case of false promises or misleading advertisements. What is the time limit for filing such claims?
a) 1 year from the date of possession
b) 2 years from the date of possession
c) 3 years from the date of possession
d) 5 years from the date of possession
Answer: c) 3 years from the date of possession - RERA has provisions for the establishment of a real estate regulatory authority at the central level. Who heads this authority?
a) Minister of Housing and Urban Affairs
b) Prime Minister of India
c) Reserve Bank of India (RBI)
d) Chief Justice of India
Answer: a) Minister of Housing and Urban Affairs - What is the time limit for the developer to rectify any structural defects in the property after receiving a complaint from the homebuyer?
a) 30 days
b) 60 days
c) 90 days
d) 120 days
Answer: c) 90 days - RERA requires developers to display all project-related information on the official website of the authority. What is the purpose of this provision?
a) To facilitate transparency and accessibility of information to homebuyers
b) To promote online property sales
c) To track real estate market trends
d) To regulate property prices
Answer: a) To facilitate transparency and accessibility of information to homebuyers - Which of the following is a mandatory provision in a sale agreement as per RERA?
a) Delivery date of possession
b) Penalty for project delay
c) Details of common areas and facilities
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate appellate tribunal at the central level. What is the time limit for disposing of complaints by the tribunal?
a) 60 days
b) 90 days
c) 120 days
d) 180 days
Answer: d) 180 days - Which of the following penalties can be imposed under RERA for non-compliance with the provisions?
a) Monetary penalty
b) Imprisonment
c) Project cancellation
d) All of the above
Answer: d) All of the above - RERA has provisions for the establishment of a real estate regulatory authority at the central level. How many members are appointed to this authority?
a) 5
b) 7
c) 9
d) 11
Answer: c) 9 - RERA requires developers to maintain records and accounts related to the project for how many years after the completion of the project?
a) 1 year
b) 3 years
c) 5 years
d) 7 years
Answer: d) 7 years - RERA allows homebuyers to form an association or cooperative society. What is the minimum number of homebuyers required to form such an association?
a) 5
b) 10
c) 20
d) 50
Answer: c) 20 - RERA provides for the establishment of a real estate appellate tribunal at the state level. Who appoints the members of this tribunal?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: b) State government - Which of the following information is required to be provided by the developer to the homebuyer as part of the allotment letter under RERA?
a) Schedule of payment
b) Stage-wise completion schedule
c) Escrow account details
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority at the state level. Who is eligible to be appointed as a member of this authority?
a) Retired judge of the High Court
b) Chartered Accountant
c) Town planner
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority in each state. Who is responsible for framing the rules and regulations for the functioning of this authority?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: b) State government - RERA requires developers to submit periodic updates of the project to the regulatory authority. What is the frequency of such updates?
a) Quarterly
b) Half-yearly
c) Annually
d) As and when required by the authority
Answer: b) Half-yearly - RERA provides for the establishment of a real estate regulatory authority at the state level. How long can the chairperson and members hold office?
a) 3 years
b) 4 years
c) 5 years
d) 6 years
Answer: c) 5 years - RERA mandates that developers cannot advertise or market the project without obtaining the necessary:
a) Environmental clearance
b) Occupancy certificate
c) Building permit
d) All of the above
Answer: d) All of the above - Which of the following projects are exempt from the registration requirement under RERA?
a) Projects with a completion certificate
b) Projects with a layout plan approval
c) Projects for industrial use
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate appellate tribunal at the central level. What is the time limit for filing an appeal with the tribunal?
a) 30 days from the date of the order
b) 60 days from the date of the order
c) 90 days from the date of the order
d) 120 days from the date of the order
Answer: c) 90 days from the date of the order - RERA requires developers to maintain all records related to the project for inspection by the regulatory authority. What is the duration for which these records must be preserved?
a) 1 year
b) 3 years
c) 5 years
d) 7 years
Answer: d) 7 years - RERA requires developers to obtain the necessary insurance against what risks?
a) Title defects
b) Structural defects
c) Fire hazards
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority at the state level. Who appoints the chairperson and members of this authority?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Chief Justice of India
Answer: b) State government - RERA requires developers to maintain a website for the project. What information must be displayed on this website?
a) Project details
b) List of approvals and documents
c) Quarterly updates
d) All of the above
Answer: d) All of the above - RERA allows the regulatory authority to grant extension of registration to the developer under certain circumstances. What is the maximum extension period that can be granted?
a) 1 year
b) 2 years
c) 3 years
d) 5 years
Answer: b) 2 years - RERA mandates that developers cannot accept more than what percentage of the apartment’s cost before entering into a registered agreement for sale?
a) 10%
b) 20%
c) 30%
d) 40%
Answer: b) 20% - RERA provides for the establishment of a real estate appellate tribunal at the state level. What is the time limit for filing an appeal with the tribunal?
a) 30 days from the date of the order
b) 60 days from the date of the order
c) 90 days from the date of the order
d) 120 days from the date of the order
Answer: c) 90 days from the date of the order - RERA requires developers to provide what information to the homebuyers in the advertisement or prospectus of the project?
a) Carpet area
b) Amenities and facilities
c) Timelines for completion and delivery
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a central advisory council. Who appoints the members of this council?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: a) Central government - Which of the following documents must be submitted by the developer for obtaining RERA registration?
a) Project layout and specifications
b) Commencement certificate
c) Consent of allottees
d) All of the above
Answer: d) All of the above - RERA requires developers to provide quarterly updates on the project to the regulatory authority. What information must be included in these updates?
a) Progress of construction
b) Status of approvals and permits
c) Revised delivery timelines
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate appellate tribunal at the central level. Who can file an appeal with this tribunal?
a) Homebuyer
b) Developer
c) Regulatory authority
d) All of the above
Answer: d) All of the above - RERA mandates that developers cannot accept more than what percentage of the apartment’s cost before entering into a registered agreement for sale?
a) 10%
b) 20%
c) 30%
d) 40%
Answer: b) 20% - RERA allows the regulatory authority to grant extension of registration to the developer under certain circumstances. What is the maximum extension period that can be granted?
a) 1 year
b) 2 years
c) 3 years
d) 5 years
Answer: b) 2 years - RERA requires developers to maintain a website for the project. What information must be displayed on this website?
a) Project details
b) List of approvals and documents
c) Quarterly updates
d) All of the above
Answer: d) All of the above - RERA allows homebuyers to claim compensation from the developer for any loss caused due to false promises or misleading advertisements. What is the maximum amount of compensation that can be claimed?
a) 10% of the apartment’s cost
b) 20% of the apartment’s cost
c) 30% of the apartment’s cost
d) 50% of the apartment’s cost
Answer: c) 30% of the apartment’s cost - RERA provides for the establishment of a central advisory council. Who appoints the members of this council?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: a) Central government - Which of the following documents must be submitted by the developer for obtaining RERA registration?
a) Project layout and specifications
b) Commencement certificate
c) Consent of allottees
d) All of the above
Answer: d) All of the above - RERA requires developers to provide quarterly updates on the project to the regulatory authority. What information must be included in these updates?
a) Progress of construction
b) Status of approvals and permits
c) Revised delivery timelines
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate appellate tribunal at the central level. Who can file an appeal with this tribunal?
a) Homebuyer
b) Developer
c) Regulatory authority
d) All of the above
Answer: d) All of the above - RERA requires developers to provide what information to the homebuyers in the advertisement or prospectus of the project?
a) Carpet area
b) Amenities and facilities
c) Timelines for completion and delivery
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority at the state level. How long can the chairperson and members hold office?
a) 3 years
b) 4 years
c) 5 years
d) 6 years
Answer: c) 5 years - RERA mandates that developers cannot advertise or market the project without obtaining the necessary:
a) Environmental clearance
b) Occupancy certificate
c) Building permit
d) All of the above
Answer: d) All of the above - Which of the following projects are exempt from the registration requirement under RERA?
a) Projects with a completion certificate
b) Projects with a layout plan approval
c) Projects for industrial use
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate appellate tribunal at the central level. What is the time limit for filing an appeal with the tribunal?
a) 30 days from the date of the order
b) 60 days from the date of the order
c) 90 days from the date of the order
d) 120 days from the date of the order
Answer: c) 90 days from the date of the order - RERA requires developers to maintain all records related to the project for inspection by the regulatory authority. What is the duration for which these records must be preserved?
a) 1 year
b) 3 years
c) 5 years
d) 7 years
Answer: d) 7 years - RERA requires developers to obtain the necessary insurance against what risks?
a) Title defects
b) Structural defects
c) Fire hazards
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority at the state level. Who is eligible to be appointed as a member of this authority?
a) Retired judge of the High Court
b) Chartered Accountant
c) Town planner
d) All of the above
Answer: d) All of the above - RERA provides for the establishment of a real estate regulatory authority in each state. Who is responsible for framing the rules and regulations for the functioning of this authority?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: b) State government - RERA requires developers to submit periodic updates of the project to the regulatory authority. What is the frequency of such updates?
a) Quarterly
b) Half-yearly
c) Annually
d) As and when required by the authority
Answer: b) Half-yearly - RERA mandates that developers cannot make any changes to the sanctioned plan, layout plan, and specifications without the consent of the:
a) Local municipality
b) State government
c) Homebuyers’ association
d) Homebuyer
Answer: d) Homebuyer - RERA requires developers to provide a 5-year warranty against structural defects. What is the penalty if the developer fails to rectify such defects within this period?
a) Monetary penalty
b) Imprisonment
c) Both a) and b)
d) Cancellation of the project
Answer: c) Both a) and b) - RERA provides for the establishment of a Real Estate Regulatory Authority (RERA) at which level?
a) Central level
b) State level
c) District level
d) Municipal level
Answer: b) State level - RERA mandates that developers cannot advertise or market the project without obtaining which document?
a) Environmental clearance
b) Building permit
c) Commencement certificate
d) Completion certificate
Answer: c) Commencement certificate - Under RERA, which of the following projects are exempt from the registration requirement?
a) Projects with a land area less than 500 square meters
b) Projects with a layout plan approval
c) Projects by government agencies
d) Projects with fewer than 8 units
Answer: c) Projects by government agencies - RERA requires developers to maintain separate bank accounts for each project. What is the purpose of this provision?
a) To ensure transparency in financial transactions
b) To monitor project expenses
c) To facilitate easy fund transfers
d) To avoid tax evasion
Answer: a) To ensure transparency in financial transactions - RERA provides for the establishment of a Real Estate Appellate Tribunal at which level?
a) Central level
b) State level
c) District level
d) Municipal level
Answer: a) Central level - RERA requires developers to obtain insurance against which risks?
a) Fire hazards
b) Structural defects
c) Title defects
d) All of the above
Answer: d) All of the above - RERA mandates that developers cannot accept more than what percentage of the apartment’s cost before entering into a registered agreement for sale?
a) 10%
b) 20%
c) 30%
d) 40%
Answer: b) 20% - RERA provides for the establishment of a Real Estate Regulatory Authority (RERA) in each state. Who is responsible for framing the rules and regulations for the functioning of this authority?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: b) State government - RERA requires developers to maintain a website for the project. What information must be displayed on this website?
a) Project details
b) List of approvals and documents
c) Quarterly updates
d) All of the above
Answer: d) All of the above - RERA allows homebuyers to claim compensation from the developer for any loss caused due to false promises or misleading advertisements. What is the maximum amount of compensation that can be claimed?
a) 10% of the apartment’s cost
b) 20% of the apartment’s cost
c) 30% of the apartment’s cost
d) 50% of the apartment’s cost
Answer: c) 30% of the apartment’s cost - RERA provides for the establishment of a Central Advisory Council. Who appoints the members of this council?
a) Central government
b) State government
c) Reserve Bank of India (RBI)
d) Supreme Court of India
Answer: a) Central government - RERA requires developers to submit periodic updates of the project to the regulatory authority. What is the frequency of such updates?
a) Quarterly
b) Half-yearly
c) Annually
d) As and when required by the authority
Answer: b) Half-yearly - RERA mandates that developers cannot make any changes to the sanctioned plan, layout plan, and specifications without the consent of the:
a) Local municipality
b) State government
c) Homebuyers’ association
d) Homebuyer
Answer: d) Homebuyer - RERA requires developers to provide a 5-year warranty against structural defects. What is the penalty if the developer fails to rectify such defects within this period?
a) Monetary penalty
b) Imprisonment
c) Both a) and b)
d) Cancellation of the project
Answer: c) Both a) and b) - RERA provides for the establishment of a Real Estate Appellate Tribunal at the central level. What is the time limit for filing an appeal with the tribunal?
a) 30 days from the date of the order
b) 60 days from the date of the order
c) 90 days from the date of the order
d) 120 days from the date of the order
Answer: c) 90 days from the date of the order - RERA requires developers to maintain all records related to the project for inspection by the regulatory authority. What is the duration for which these records must be preserved?
a) 1 year
b) 3 years
c) 5 years
d) 7 years
Answer: d) 7 years - RERA mandates that developers cannot advertise or market the project without disclosing the project’s:
a) Carpet area
b) Total area
c) Built-up area
d) Super built-up area
Answer: a) Carpet area - RERA allows homebuyers to claim compensation for any delay in delivery of the project. What is the maximum interest rate that can be charged on such compensation?
a) 9% per annum
b) 12% per annum
c) 15% per annum
d) 18% per annum
Answer: d) 18% per annum - RERA provides for the establishment of a Real Estate Regulatory Authority in each state. Who is eligible to be appointed as a member of this authority?
a) Retired judge of the High Court
b) Chartered Accountant
c) Town planner
d) All of the above
Answer: d) All of the above - RERA requires developers to submit a copy of the registered agreement for sale to the regulatory authority. What is the timeframe for submitting this agreement?
a) 15 days from the date of registration
b) 30 days from the date of registration
c) 45 days from the date of registration
d) 60 days from the date of registration
Answer: a) 15 days from the date of registration
