The Real Estate (Regulation and Development) Act, 2016 (RERA) was enacted to bring transparency, accountability, and discipline to the real estate sector. One of the most critical disclosure requirements is contained in Section 4(2)(l)(D), which mandates promoters to regularly disclose booking-related details of the project.
This provision plays a vital role in protecting homebuyers’ interests and ensuring fair practices by promoters.
What is Section 4(2)(l)(D) of RERA Act, 2016?
As per Section 4(2)(l)(D) of the RERA Act, every promoter is required to declare and update the following details on the RERA Authority’s website:
- Number of apartments booked
- Number of garages booked
- Status of the project, as prescribed by the Authority
These disclosures must be made periodically, usually on a quarterly basis, as part of ongoing compliance.
Objective of Section 4(2)(l)(D)
The core objectives of this provision are:
- Ensure full transparency in project sales
- Prevent over-selling or misrepresentation
- Enable buyers to make informed decisions
- Allow RERA Authorities to monitor project health
- Promote ethical real estate practices
Quarterly Updates under RERA
Although Section 4(2)(l)(D) focuses on booking data, it works in coordination with quarterly compliance requirements, which typically include:
- Construction progress (building-wise)
- Status of approvals and sanctions
- Changes in booking status
- Inventory availability
Failure to update accurate booking data is considered non-compliance.
Why Booking Disclosure Matters for Homebuyers
For homebuyers, Section 4(2)(l)(D) offers:
- Clarity on actual sold vs unsold inventory
- Confidence in promoter’s credibility
- Protection against false scarcity marketing
- Transparency in project progress
This provision ensures that what is promised matches what is reported.
Compliance Responsibility of Promoters
Promoters must ensure that:
- Data uploaded is accurate and verifiable
- Updates are made within prescribed timelines
- Disclosures match CA-certified financial data
- No misleading or inflated booking figures are shown
Incorrect disclosure may attract penalties under RERA.
Penalties for Non-Compliance
Non-adherence to Section 4(2)(l)(D) can lead to:
- Monetary penalties under Section 61
- Show-cause notices from RERA Authority
- Project suspension or revocation (in severe cases)
- Loss of market credibility
Role of a RERA Compliance Expert
A professional RERA consultant helps promoters with:
- Accurate quarterly filings
- Booking data reconciliation
- CA, Engineer & Architect coordination
- Avoidance of penalties and notices
- Smooth project lifecycle management
Conclusion
Section 4(2)(l)(D) of the RERA Act, 2016 is a cornerstone provision that ensures truthful disclosure of booking status and strengthens buyer confidence. Promoters who follow this provision diligently not only remain compliant but also build long-term trust in the real estate market.
Transparency is not just a legal requirement under RERA—it is a competitive advantage.
