A real estate project named Highway Pride in the Saran district is facing questions over its legal status and mandatory RERA registration. The township is being developed by Dream Amazing Realtors Pvt. Ltd. in the Parmanandpur area near the upcoming Sonpur Airport. Despite strict laws, the project is reportedly being promoted and sold on EMI schemes without being listed on the official RERA Bihar portal as per reports from the ground.
Why is RERA registration mandatory for real estate projects
As per the Real Estate Regulation and Development Act, any project that involves the sale of plots or flats must be registered with RERA before any marketing begins. This process requires the promoter to submit all land documents, maps, and local body approvals for public viewing. The law was introduced to protect home buyers from fraud and to ensure that developers complete projects on time. Any sale or advertisement done without this registration is treated as a violation of the law.
Important facts for investors in Saran and Sonpur
- Dream Amazing Realtors Pvt. Ltd. was incorporated on April 26, 2023 with its registered address in Patna
- Official records list Ritesh Kumar and Ritesh Ranjan among the five directors of the company
- RERA Bihar has recently taken action against several unregistered projects in the region and imposed heavy fines
- The law requires developers to keep 70% of collected funds in a dedicated escrow account for project development
- Investors are advised to verify the RERA registration number on the official government website before making any payments
