RERA was brought in imitation of a view to bring in a uniformity in the Real Estate Business and to curb the harassment of customers and bring anything the agencies below a common surveillance. Every entity practicing in the genuine estate thing are compulsorily required to gain itself registered under RERA after the launch of the act. We give RERA consultancy services in Shastrinagar for all types of Real Estate Merchants whether they are builders, land Dealers, Developers, Agents or investors. Our team took care of whatever the agreement related formalities under RERA regime to ensure mild and simple launch of any project along the length and breadth of Shastrinagar.
Who are required to gain registered below RERA?
Following Entities are required to obtain Registration below RERA:
- A Developer Starting a new project
- A project which has commenced in the past onset of RERA but deed certificate has not been issued/obtained
- An agent dealing in Real estate
- A project which has been advertised from a prior date but has not yet started.
Is it mandatory to gain all the projects registered under RERA?
Government has exempted afterward projects from the purview of RERA:
- Renovation Projects
- Project having area less than or equal to 500 sq ft or where the number of apartment is less than 8.
- A project whose talent certificate was issued before the onset of RERA.
TYPES OF REGISTRATION UNDER RERA
- Project Registration
Every builder/developer must past making any public personal ad and receiving any grant shall gain its project registered when RERA. Full details roughly speaking the project is required to be unmovable in the application form, payment is made depending on the built up area of the project. In fighting the builder/developer failed to get its project registered a big fine shall be imposed upon such builder.
Documents Required for Project Registration under RERA:
- PAN card of the promoter;
- Audited tally sheet for the preceding financial year and allowance tax returns for three preceding financial years;
- The number of retrieve parking areas and the number of covered parking areas comprehensible in the genuine estate project;
- Copy of the genuine title ability reflecting the title of the advocate to the land;
- Details of encumbrances on the land on which expansion is proposed including details of any rights, title, interest, dues, litigation and proclaim of party in or greater than such estate along taking into account details;
- Where the promoter is not the owner of the land upon which onslaught is proposed details of the grant of the owner of the estate along considering a copy of the agreement;
- Name, photograph, contact details and quarters of the promoter.
- Agent Registration
In order to bring roughly a fair practice in Real land Sector and subside monopolistic way in of the agents toward the customers, government has came taking place with the concept of RERA Registration for Agents, whereby every agent must gain itself registered under RERA since dealing in Real Estate Activities. This step will bring Agent-Client transaction below a common purview and shall next curb the unnecessary harassment by the Agents.
Agent Registration is provided for a specific mature of time and is subject to renewal.
Information Required for Registering as an agent below RERA:
- Brief details of his enterprise including its name, registered address, type of enterprise (proprietorship, societies, partnership, companies etc;
- Particulars of registration including the bye-laws, or memorandum of link and articles of association, etc. as the engagement may be;
- Photograph of the real estate agent if he is an individual and the photograph of the partners, directors, etc., in case of additional entities;
- Authenticated copy of the PAN Card;
- Income tax returns filed below the provisions of the Income Tax Act, 1961 (Central Act 43 of 1961) for three financial years preceding the application or in charge the applicant was exempted from filing returns below the provisions of the Income Tax Act, 1961 for any of the three years preceding the application, a support to such effect;
- Authenticated copy of the address proof of the place of business; and such additional information and documents, as may be specified by the Authority in regulations.
- Complaint Registration
If any consumer, buyer, party to a settlement or any further related person has ample reason that rules are not subconscious followed in the same way as regard to any project or by any agent after that he can lodge a formal complaint considering the appropriate official with legitimate proof of the event demanding him to see into the issue, by paying a enhancement of Rs. 1000/- per application.
TIME REQUIRED FOR OBTAINING REGISTRATION
As per RERA, the department is bound to either ascend registration of disown the application within 30 days of submitting of such application by the applicant in the department.