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RERA Registration

RERA REGISTRATION

Get RERA registration through LEGALDISHA, your first step towards achieving height in real estates. Experience our fastest processing and reliable registration at best challenging affordable rates.

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    OVERVIEW OF REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016

    The sector of real estate plays an important role in fulfilling the demands of infrastructure development. This sector has seen massive growth at a fast pace in recent times. This act creates the need for the establishment of professional standards for bringing unregulated operations related to estates within the framework of the law.

    Before this act came into force the builders by indulging themselves in unfair & unethical practices and exploit the innocent customer in the absence of any regulating mechanism for consumer protection. Thus requirement of the certain body to be in place emerges, and thus Real Estate Regulation Act is introduced as a savior from the practices and exploitations.

    DOCUMENTS REQUIRED FOR PROMOTER REGISTRATION

    Details of promoter
    Details of promoter

    • Passport size Photographs
    • Pan card
    • Aadhar Card/ Passport/ Driving license/ Voter ID of Applicant

    Plan & Project details
    Plan & Project details

    • Commencement Certificate along with the Sanction Plan.
    • Layout Plan.
    • The plan of action works to be executed in the project.
    • Location details of the project.
    • Legal title deeds.
    • Availability of Parking slots in the real estate project.
    • Particulars of previous project experience including-
      –Name and status of the project.
      –Any delay in its completion.

    Additional details in case promoter is company
    Additional details in case promoter is company

    • Certificate of Incorporation
    • CIN/ TAN number
    • MOA & AOA
    • Audited balance sheet Audited report director’s report(preceding 3 financial years)
    • Particulars of directors/ Chairperson/ Other authorized person.

    DOCUMENTS REQUIRED FOR REAL ESTATE AGENT REGISTRATION

    Photograph
    Photograph

    Passport size Photographs of Agent

    Details of Agent
    Details of Agent

    • Pan card
    • Aadhar Card/ Passport/ Driving license/ Voter ID of Applicant

    Additional details in case Promoter is company
    Additional details in case Promoter is company

    • Particulars of real estate agent- Company name
    • registered address
    • Byelaws
    • MOA & AOA
    • Type of company

    PROCESS OF RERA REGISTRATION

    1
    Filing of Application

    The application is made in the respective form along with the requisite details to the authority. Application form varies from state to state.

    2
    Submission Of Documents Required

    The application form must be submitted along with all the documents required. After submission of document, fees shall be paid by the applicant by the way of:-

    1. Demand draft.
    2. Bankers cheque is drawn on any scheduled bank.
    3. Online payment to the real estate regulatory authority.
    3
    Acceptance Or Rejection of application

    Within 30 days of receipt of application form the authority may either accept or reject the application. In case no revert/remark is provided, it will be considered as accepted from the authority.

    4
    Issuance Of Registration Certificate

    The authority after acceptance of application shall issue a registration certificate to the applicant.

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    Frequently ASKED Questions

    What is meant by RERA?

    RERA stands for Real Estate (Regulation and Development) Act, 2016. This act is formulated to supervise the real estate sector in India.

    What is the requirement of RERA needed in India?

    The sector of real estate plays an important role in fulfilling the demands of infrastructure development. This sector has seen massive growth at a fast pace in recent times.

    This act creates the need for the establishment of professional standards for bringing unregulated operations related to estates within the framework of the law.

    Before this act came into force the builders by indulging themselves in unfair & unethical practices and exploit the innocent customer in the absence of any regulating mechanism for consumer protection. Thus requirement of the certain body to be in place emerges, and thus Real Estate Regulation Act is introduced as a savior from the practices and exploitations.

    What are the objects of RERA, 2016?

    The objectives of the RERA, 2016 are –

    • To establish the Real Estate Regulatory Authority.
    • To promote efficiency and transparency in the sale of real estate projects.
    • To establish a mechanism for speedy dispute settlement.
    • To protect consumers in the real estate sector.
    • To set up the Appellate Tribunal for listening to appeals from the decisions, directions or orders of the RERA.

    What are the penal provisions under RERA?

    In case the promoter is found guilty of any fraud he shall be liable to both-

    • Penalty up to 10% of the project cost.
    • Imprisonment of up to 3 years.

    Thus the RERA Act applies in all states of India?

    Yes, the RERA Act is applies in all states of India.

    Is the RERA Act applies both to residential and commercial projects?

    Yes the RERA Act applies both to residential and commercial projects. Before only residential projects were covered, but later on through various amendments commercial projects like offices, shops, buildings were also included in it.

    Does real estate developers requires to obtain multiple registrations in case their project is developed in different phases?

    Yes, real estate developers requires to obtain multiple registrations in case their project is developed in different phases. Each phase of the project will be considered a standalone real estate project and thus the developer must obtain separate registration for each phase.

    Do RERA also covers purchase and rental agreements?

    No, RERA does not coverd purchase, rental agreements or any other form of agreement.

    What consequences developer may face in case he fails to deliver within the stipulated validity period?

    The validity of a project is estimated by the developer himself. Thus they are accountable for completing the project on time In case of failure to deliver within the stipulated validity period, developer shall face losses or legal penalties.

    Which Projects does not required to be registered under the RERA Act?

    Following projects are not required to be registered under the RERA Act-

    1. Project having area of the land not exceeding 500 square meters.
    2. The number of apartments does not exceed 8 (eight).
    3. Where the work involved is only of-
      • Renovation
      • Repair/ Re-development

        • Also not involve advertising, selling, marketing, or new allotment of any plot, building or apartment.

    4. Promoter before the commencement of RERA has obtained a completion certificate for a Real estate project.

    Does extension of RERA Registration is possible?

    Yes extension of RERA Registration is possible but only in case of natural calamity or war. And the extensions will be applicable for a one year only.

    Can the RERA Registration be revoke?

    Yes RERA Registration be can revoke in case the department receives any complaint against a developer and is satisfied that developer is not complying with any of regulations.

    What is the validity period of RERA Registration?

    The validity period of RERA Registration is of five years referred as the period of the project completion.

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