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Oh, RERA registration! It’s something that people often talk about when dealing with real estate in India. So, RERA stands for Real Estate (Regulation and Development) Act, and it was brought in to protect buyers and ensure transparency in the real estate sector especially from those tricky practices some builders had back in the day.
The main idea is to set up a more organized framework where developers must register their projects under this act before them kick-start sales. This registration is super important because it means the developer has to provide all the essential details about the project, like the land size, completion timeline, and even the number of apartments. This way, it helps to ensure that developers stick to their plans and don’t mislead buyers with false promises.
Plus, if anything goes wrong, having an RERA registration means buyers can legally address grievances. It’s like having that extra bit of assurance when you’re planning to invest in a property. So, all in all, it’s just a step in the right direction to make buying a house a fairer and more transparent process!
The promoter’s PAN card
The promoter’s identity proof (e.g., Voter ID, Passport, or Aadhaar card)
The promoter’s photo
Contact information
Title deed
Project Name and Description – Specifics of the proposed project
Land Title Certificate – A legal title report from a registered advocate attesting to land ownership
Development Agreement – A contract between the developer and the landowner (if applicable)
Encumbrance Certificate – Proof that the property is free of financial or legal liabilities
Sanctioned Plans – Building and layout plans approved by the local authorities
Project Location Details – Includes GPS coordinates and site photographs
Construction Cost Estimate – A detailed breakdown of construction costs
NOC (No Objection Certificates) – Issued by relevant authorities (e.g., airport, environment, fire safety)
Financial Records:
The promoter’s audited balance sheet for the previous financial year
Income Tax Returns (ITRs) for the last three years
Project bank account details, including the escrow account mandated under RERA (for depositing 70% of project funds)
Identity Verification – Voter ID, Passport, or Aadhaar card
PAN Card – The agent’s or firm’s PAN card
Address Proof – Documentation of the business location (e.g., property tax receipt, lease agreement, or utility bill)
Photograph – Passport-sized photo of the agent
Certificate of Business Registration – GST registration, partnership agreement, or certificate of incorporation
Contact Information – Phone number and email address of the agent or firm
Letterhead – The company’s official printed letterhead
Joint Development Agreement – Required if the project is being developed through a joint venture
Affidavit – A declaration confirming the promoter’s compliance with all RERA regulations
Ongoing Project Verification – Confirmation that the project has not been sold or advertised without registration (in the case of ongoing projects)
By forcing developers to give comprehensive and accurate project details, including as approvals, deadlines, and construction updates, RERA adds a high degree of transparency to real estate transactions. Customers are empowered to make wise judgments because of this transparency.
By guaranteeing that developers follow authorized plans and complete projects by the deadline, RERA protects homebuyers. Customers have legal options to request reimbursements or compensation in the event of delays or deviations.
RERA’s strict rules and sanctions for noncompliance guarantee that developers follow project schedules, lowering the possibility of delays and guaranteeing prompt property possession.
RERA ensures consistency and equity in real estate transactions by standardizing real estate processes. This comprises uniform agreements and disclosures, as well as precise definitions of carpet area, built-up area, and super built-up area.
RERA makes builders answerable for their commitments and duties. It minimizes financial mismanagement by requiring developers to keep a distinct escrow account for every project, guaranteeing that money received from purchasers is utilized only for the planned project.
Filling out the RERA Registration Form – The applicant must submit the designated form to the respective state authority. This process may vary by state and must include all required information and supporting documents.
Submission of Necessary Documents – The applicant must submit the completed application form along with all required documents. Payment of applicable fees may be made online, via banker’s cheque from a scheduled bank, or through a demand draft, as specified by the real estate regulatory authority.
Authority Verification – The authority will review the application within 30 days of receipt. If no decision is communicated within this period, the application is deemed approved.
Registration Certificate Issuance – Upon approval, the promoter or real estate agent will receive a registration certificate from the authority, confirming their RERA registration.
State-Specific Guidelines – Each state may have its own specific procedures and requirements. Applicants should consult the official RERA website of their respective state for detailed instructions and information.
Long-Term Gains for the Industry – RERA is expected to bring greater stability, transparency, and investor-friendliness to the real estate market over time. Its emphasis on accountability will continue to build consumer confidence and attract fresh investment.
Changing Regulatory Structure – As the real estate sector evolves, RERA is anticipated to adapt accordingly. The regulatory framework will likely be updated to address emerging trends and challenges, ensuring continued consumer protection and ethical practices.
Improved Protection for Consumers – RERA’s focus on safeguarding consumer interests will remain a cornerstone of the real estate industry. Ongoing improvements to regulations and enforcement will further enhance the security of homebuyers.
Joint Development Agreement – Required if a joint venture is used to develop the project
Affidavit – A sworn statement confirming the promoter’s compliance with all RERA regulations
Ongoing Project Verification – Confirmation that, in the case of ongoing projects, the project has not been sold or advertised without prior registration
Security – Developers must deposit 70% of buyers’ funds into a separate account, to be used solely for land and construction expenses. They cannot demand more than 10% of the property’s cost as an advance before signing the sale agreement.
Transparency – Builders are prohibited from altering the original project details without the buyer’s consent.
Fairness – Properties must be sold based on the carpet area, not the super built-up area. If the project is delayed, buyers have the right to a full refund.
Quality Assurance – Developers are obligated to address any structural defects or complaints within five years of possession, and must resolve them within 30 days.
Permission – All real estate projects must be registered with RERA, and all advertisements must display a unique registration number issued by the authority.
Homebuyers’ Rights
Right to receive complete project information
Right to timely possession of the property
Right to claim compensation for project delays
Promoters’ Responsibilities
Adherence to committed project deadlines
Responsibility for rectifying structural defects for a period of five years
Maintenance of a separate escrow account for project funds
Land Area and Apartment Limit Projects – Projects covering up to 500 square meters of land or involving no more than eight flats are exempt.
Renovation, Repair, or Redevelopment Projects – Exempt if they do not involve marketing, advertising, selling, or new allotment of any building, plot, or apartment.
Projects with Completion Certificate – Projects that already received a completion certificate before the RERA Act came into effect are not subject to its provisions.
If all paperwork is in order, applications are normally processed by the RERA authority in 30 to 90 days.
• Regarding Promoters: As stated during registration, the registration is good until the project’s completion date.
• For agents: the registration can be renewed and is normally good for five years.
Each state has a different registration fee, which is determined by things like:
i. The project’s scale (for promoters).
ii. Status: individual or firm (for agents).
RERA has the authority to cancel the registration if
• RERA provisions are broken by the promoter or agent.
• Misconduct, fraud, and non-compliance are the subjects of complaints.
Yes, buyers can check the state’s RERA portal to confirm a project’s RERA registration details. Timelines, approvals, and project progress are among the details the portal offers.
Yes, ongoing projects that did not have a Completion Certificate (CC) on the day RERA went into effect have to register.
No, a person’s or company’s RERA registration is unique to that project and cannot be transferred.
Complaints can be submitted to the appropriate state RERA Authority by promoters, agents, or buyers.
Hearings are used to settle disputes, and sanctions or payments may be made.
To promise ethics and integrity in real estate transactions. By limiting their dealings to RERA-registered projects, registered agents gain more credibility with clients.
• A penalty of Rs. 10,000 per day, which can amount to 5% of the building or plot’s cost, would be imposed on the agent for any registration defaults.
• A penalty of up to 5% of the real estate project’s anticipated cost may be imposed on the promoter for giving misleading information.
RERA Registration is your key to building trust, transparency, and compliance in the real estate sector.
Whether you’re a builder, developer, or real estate agent, this registration helps you:
✅ Gain legal recognition under RERA Act
✅ Build trust with buyers and investors
✅ Ensure timely project delivery and compliance
✅ Avoid penalties and legal hassles
Click here to see how we make RERA Registration easy, reliable, and hassle-free.
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