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RERA Registration

RERA Registration

RERA Registration

RERA, full form of which is Real Estate Regulatory Authority, stands for transparency in the real estate industry. It was brought to action to eradicate the existing discrepancies and problems within the sector.
As per the RERA Act, RERA committees have been set up across India to promote uniformity and transparency, as well as to regulate the real estate sector. To know more you can look up RERA Karnataka, RERA Delhi, RERA West Bengal, RERA UP, RERA Punjab, RERA Goa and so on.

With RERA in place, every builder or developer is required to inform homebuyers of the progress of construction, offer them keys to their property by the mentioned date, and abide by every rule outlined by RERA, to ensure accountability.

Advantages  of RERA registration:

The RERA Act has brought about more accountability and transparency within the real estate industry.
RERA rules are applicable to both residential and commercial properties.
RERA aims to reduce project delays and mis-selling. In order to do so, authorities have made it mandatory for all builders/developers to carry out RERA registration before they start a project.
The standardisation brought about by RERA aims to protect the interests of buyers and developers alike.
Overview Required documents How we process

RERA, full form of which is Real Estate Regulatory Authority, stands for transparency in the real estate industry. It was brought to action to eradicate the existing discrepancies and problems within the sector.
As per the RERA Act, RERA committees have been set up across India to promote uniformity and transparency, as well as to regulate the real estate sector. To know more you can look up RERA Karnataka, RERA Delhi, RERA West Bengal, RERA UP, RERA Punjab, RERA Goa and so on.

With RERA in place, every builder or developer is required to inform homebuyers of the progress of construction, offer them keys to their property by the mentioned date, and abide by every rule outlined by RERA, to ensure accountability.

There are two types of RERA registration and the respective documents required for each of them are as follows:

Projects:
1. PAN card of the promoter
2. Annual report of the promoter
3. The number of open parking and covered parking areas of the project
4. An authenticated copy of the title of the deed that details the title of the promoter and the title of the project
5. Details of encumbrances on the land on which the construction project is proposed
6. Details of the owner of the land where the project is proposed. These details entail:
a. Collaboration agreement
b. Development agreement
c. Joint development agreement
d. Or any other agreement that the owner has entered with the promoter.
7. Personal details of the promoter
a. Name
b. Identity proof
c. Photographs
d. Contact information
e. Address proof of the directors, partners, and directors.
For real estate agents: the documents that are required for the real estate agents are as follows:
1. Particulars pertaining to the registration:
a. Bye laws
b. Memorandum of Association
c. Articles of Associations
2. Details of the real estate agent if the agent is individual:
a. Name
b. Address proof
c. Photograph
3. Details of the entity if there are multiple real estate agents:
a. Name
b. Address
c. Photographs
4. PAN card Photostat
5. Address proof of the place where the business is conducted

Procedure of RERA Registration
1. Gather the documents
2. Draft the application RERA 1
3. Submit the application

FAQ

To check for RERA registration, you can visit the RERA website of the concerned state, then go to verify option. In the next page, you can select the registration type, enter the registration number, fill the captcha and click on ‘verify’.

Yes, registration under RERA is compulsory for any builder who wants to develop a residential or commercial property on land that is more than 500 sq. Meters or the number of proposed apartments in all phases is more than 8

The registration fee for an individual applicant is Rs. 10,000. Whereas, if the applicant is a body corporate registered under the Companies Act, 2013, then the RERA registration fee is Rs. 25 lakhs.

1. The registration fee varies from Rs. 10,000 to Rs. 25 lakhs as per the applicant.
2. The Real Estate Agent is required to display the number of his registration in all its branches and offices.
3. The application of renewal of registration by the agent should be made at least 60 days prior to the expiry of registration.
4. After renewal, the registration is valid for 5 years.

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