The Real Estate Regulatory and Development Act (RERA) was implemented on 1st May 2017, to regulate the real estate sector of India. RERA, 2017 has shaped the total regulation of the activities of the builders and has also empowered the buyers regarding the real estate regulations.
Under the Real Estate Regulatory Act, 2016, every builder & promoter has to mandatorily register their real estate projects under RERA to purchase, sell, advertise, market or book.
RERA Registration ensures the effective and transparent regulation of the contract between the purchaser and seller of the plot, apartment, or building. Furthermore, it aims to ascertain the higher responsibility towards the clients and lessen up the delays, fraudulent acts & high transaction costs.
RERA Registration is applicable to all the Real Estate Agents, Promoters and Projects contingent upon the below-mentioned criteria:
RERA application must be affixed with a set of following documents:
Registration of the project starts with the creation of the user id by the promoter on the Rajasthan RERA web portal- http://rera.rajasthan.gov.in
In the next step, a promoter profile is created and project details (documents, maps, etc.) are uploaded by the applicant.
Online application for registration is submitted after the prescribed fee is paid online.
As prescribed under Section 5 of The Real Estate (Regulation and Development) Act, 2016 The Authority grants the registration no. within a period of thirty days from the date of submitting the completed online application. Registration no. is conveyed to the applicant by e-mail and SMS.
A hard copy of the online application along with promoter and project-related documents is submitted to the office of The Registrar, RERA Rajasthan, Nagar Niyojan Bhawan
After submission of the hard copy, the certificate of registration is issued by the authoritative official to the applicant.
Registration of the project starts with the creation of the user id by the promoter on the Rajasthan RERA web portal- http://rera.rajasthan.gov.in
After the Agent profile creation, details need to be uploaded by the applicant.
The application needs to be submitted online for registration along with the prescribed registration fee which must be paid via online mode.
As prescribed under Section 5 of The Real Estate (Regulation and Development) Act, 2016, the Authority issues the registration no. within a period of thirty days from the date of submitting the completed online application. Registration no. is conveyed to the applicant by e-mail and SMS.
A hard copy of the online application along with promoter and project-related documents is submitted to the office of The Registrar, RERA Rajasthan, Nagar Niyojan Bhawan
After submission of the hard copy, the certificate of registration is issued by the authoritative official to the applicant.
Registration of the project starts with the creation of the user id by the promoter on the Rajasthan RERA web portal- http://rera.rajasthan.gov.in
After the Agent profile creation, details need to be uploaded by the applicant.
The application needs to be submitted online for registration along with the prescribed registration fee which must be paid via online mode.
As prescribed under Section 5 of The Real Estate (Regulation and Development) Act, 2016, the Authority issues the registration no. within a period of thirty days from the date of submitting the completed online application. Registration no. is conveyed to the applicant by e-mail and SMS.
A hard copy of the online application along with promoter and project-related documents is submitted to the office of The Registrar, RERA Rajasthan, Nagar Niyojan Bhawan
After submission of the hard copy, the certificate of registration is issued by the authoritative official to the applicant.
The fee for RERA registration differs from state to state. However, the estimation for the same is as follows:
Note:- The registration fee for RERA registration is payable during application via NEFT, RTGS System or any other alike digital transaction mode.
An approved RERA registration has a validity of a period as specified by the Promoter for finishing the real estate project or as specified in the affidavit affixed with the application form. However, the validity may be further extended through an application under some circumstances like Force Majeure like flood, war, drought, cyclone, earthquake or any other natural calamity that disturbs the normal build out of the real estate project.
It should be noted that the validity can be extended by the concerned authority to a maximum time-span of one year, in case of reasonable circumstance other than force majeure.
Registration under the Real Estate Act, 2016 shall be mandatory for all the commercial and residential real estate projects where the land is over 500 sq m, or eight apartment. A registration with the Real Estate Regulatory Authority (RERA) is done for launching a project and to provide a greater transparency in project-marketing and execution of the plan.-
No promoter is allowed to advertise, market, book, sell or offer for sale for any of the real estate project in any planning area without registering it first.
No, it does not covers the rental arrangements.
As RERA is applicable state wise the minimum fee requirement is decided according to the states. In case of Rajasthan broker’s fees for registration under RERA is Rs. 10,000 and as an individual and Rs. 50,000 of other than individual.
As the builders takes contract in large there is requirement for RERA registration for the builders or the constructor or the developer for the construction or the development of any the residential or commercial project or where the area of land proposed to be developed exceeds 500 sq m or the number of apartments proposed to be developed exceeds 8 inclusive of all phases.
The objective behind RERA coming into force with the provider of relief to the buyers from the malpractices of the unfair builders. The RERA , 2016 states certain norms for building and development of the real estate which will ultimately enhance the transparency in transactions in the real estate sector.
The Registration under the RERA, 2016 can be revoked, if any complaint is received against the developer & is satisfied that the Developer has not complied with the rules and regulations under the Act, or has violated the terms & conditions of the approval, or is involved in the unfair practices to sell, market or advertise his projects.
There are mainly three exceptions for the registration under the Act –
Registration shall be valid for the time period required for completing the project or the phase, as declared by the builder / developer.
The validity of the registration is based upon the builders’ own estimates. Thus, the accountability lies with them to adhere and abide to the timelines otherwise they risk suffering losses / penalties as prescribed.
The Registration can only be extended in the case of the natural calamities like, floods, drought, fire etc. or in the circumstances of a war. Such extensions, if any applied for by the builder or developer, will be for a period of one year.
The Registration under the RERA can be revoked by the RERA, if any complaint is received against the developer/builder and is satisfied that the Developer/builder has not complied with the rules and regulations under the Act, or has violated certain terms and conditions of approval, or is involved in unfair practices to sell, market or advertise his projects.
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