RERA and Property Valuation — Improved Transparency in Comparable Selection
The Real Estate (Regulation and Development) Act, 2016 (RERA) has improved the transparency and quality of the comparable sales evidence available for residential property valuation in India.
For a Government Approved Property Valuer, RERA provides additional project-level information that can support a more structured assessment of residential property value, comparable transactions and price-per-square-foot analysis.
RERA Comparables for New Project Valuation
RERA-registered residential projects provide additional project information that can assist the Government Approved Property Valuer in evaluating comparable evidence.
The RERA Project Portal as a Comparable Evidence Source
For residential properties in RERA-registered projects, the Government Approved Property Valuer can access project-level information relevant to valuation analysis.
The developer’s RERA portal can provide information relating to sold units, unsold inventory and project disclosures that can assist in understanding the market position of the project.
Developer RERA Portal
Project information including sold unit prices and unsold inventory can assist comparable property analysis.
RERA Complaint Records
Complaint records may indicate delivery or construction quality issues that could be relevant to value assessment.
Occupancy Certificate
The project's occupancy certificate status provides an important completion-stage reference.
RERA Completion Status
RERA completion status can help distinguish completed and under-construction projects during comparable assessment.
RERA registration is the first verification step for any new residential property valuation.
Carpet Area vs Super Built-Up Area
Area measurement can materially affect the interpretation of residential property comparables. RERA provides a more consistent reference point for carpet-area-based analysis.
Carpet Area
RERA mandates that residential property sales be priced on the carpet area basis — the net usable floor area excluding walls, common areas, balconies and other specified deductions.
Super Built-Up Area
The pre-RERA market commonly quoted prices on a super built-up area (SBA) basis, incorporating a loading factor for common areas.
Differences in loading can create distortion when older comparables are compared directly with carpet-area-based transactions.
Comparables should be normalised to a per-square-foot-of-carpet-area basis for consistent comparison.
From RERA Data to Comparable Property Evidence
RERA information is most useful when it is incorporated into a structured comparable-selection process. The objective is not simply to collect project information, but to create a consistent basis for analysing relevant residential property evidence.
Discuss Your Property Valuation →Establish the project's RERA registration and available project information.
Examine available sold-unit information, inventory and project-level evidence.
Consider occupancy and RERA completion status when assessing the project context.
Convert relevant comparisons to a carpet-area price basis where appropriate.
Get the Right Comparable Evidence for Your Property Valuation.
Discuss your residential property, RERA-registered project, comparable-sales requirement or purpose-specific valuation with the valuation practice.