RERA Registration
- Transparency in realty projects
- Full disclosure of project details
- Prompt complaint management
- Wide coverage
- Builder’s Credibility
- Complete information of Builder
RERA Registration
Real Estate Regulatory Authority (RERA) is an apex regulatory body to control the affairs of Real Estate Industry in India and protect the interests of Real Estate buyers & investors.
The RERA was very recently established on 1st May 2016 after passing of the Real Estate (Regulation and Development) Act, 2016 in the Parliament. the main objective of the RERA Registration is to ensure complete transparency of real estate developers, contractors, builders, agents, brokers & property dealers and to ensure the safety of the investors’ funds.
Documents Requires For RERA Registration
The documents needed to be regularly maintaines for fillig form
- Registration Proof of Business
- Certificate of Incorporation
- GST Certificate
- PAN Card
- MSME Certificate
- Approved layout and Map
- Details of Project
- Project Details
- Promoter Details
- Last 3 Years Financial Statements
Packages
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
- 10GB Storage
- 300 Downloads
- 100 Emails
- 15GB Bandwidth
- Support Forum
- Monthly Reports
Frequently Asked Questions
What are the objectives of RERA registration?
As per the Real Estate Registration Act-2016, the RERA registration has the following objectives:
- ensuring accountability towards allottees and protect their interest;
- infusing transparency, ensure fair-play and reduce frauds & delays;
- introduce professionalism and pan India standardization
- establish symmetry of information between the promoter and allottee;
- imposing certain responsibilities on both promoter and allottees;
- establish a regulatory oversight mechanism to enforce contracts;
- establish a fast-track dispute resolution mechanism;
- promote good governance in the sector which in turn would create investor confidence.
Which real estate project needs RERA registration?
All real estate projects with the land area more than 500 sqm or has more than 8 apartments needs RERA registration compulsorily.
What is the penalty for a Real Estate Agent for violation of RERA laws?
If any real estate agent fails to get RERA registration or violates the provisions of section 9 and 10 of RERA Act, he shall be liable to a penalty of ₹10,000/- per day during till such default continues, which may extend up to 5% the cost of plot, apartment or buildings, as the case may be, of the real estate the project, for which the sale or purchase has been facilitated.
Whom to approach in case of real estate dispute?
An aggrieved citizen having a complaint regarding any real estate issue can directly approach one of the two forums for redressal of his complaint- Regulatory Authority and adjudicating officer.
What does the term ‘allottee’ include?
As per section 2(d) of RERA Act 2016, an allottee includes a person who acquires the said ‘apartment / plot’ through transfer or sale, but does not include a person to whom such plot, apartmentis given on rent. The Act doesn’t include rental projects, lease/leave and License deals.
What does ‘advertisement’ mean in RERA Act?
As per section 2(b) of the RERA Act 2016, ‘advertisement’ refers to any media adopted in soliciting for sale would be covered under the said definition, including SMS and emails. In this regard, prospectus, which is intended for sale of an apartment in the real estate project, will also be covered.
How is the parking area defined in RERA Act?
The position of parking as per the RERA Act 2016 is as follows;
- Open Parking Area: This has been clearly included in the definition of Common Areas which need to be conveyed to the Association of Allottees after Occupancy Certificate is received. Hence, the sale or allotment of Open Parking Areas by the Promoter is not permissible
- Covered Parking Area as defined in the Maharashtra Real Estate (Regulation and Development)(Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 is permitted to be sold.
- Garage, as defined in the Act, is permitted to be sold.
How much is the penalty for not getting RERA registration of a project?
If any promoter fails to register as per Act, he shall be liable to a penalty which may extend up to 10% of the estimated cost of the real estate project. On further violation, he shall be punishable with imprisonment for a term which may extend up to 3 years or with penalty that may extend up to a further 10% of the estimated cost of the real estate project, or with both.
Do I need to physically present for the process?
No, You don’t need to be physically present for the process, E-StartupIndia is an online catering platform all you need is an internet connection in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at the remotest location of India.
