Services Related to Rera Registration
Compulsory certificate for any Real Estate Agent to sell property
Mandatory certificate for builders to sell or advertise any project
Quaterly update for any registered project under Rera
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Know More about RERA Registration
Under the Real Estate (Regulation and Development) Act, 201, the Parliament of India passed a regulation which made it mandatory for each state to have a Real Estate Regulatory Authority (RERA), which would benefit both buyers and sellers in the real estate sector.
RERA builder registration is essential since it has had a great impact on the real estate sector as liquidity has been tightened. Project costs have increased, and so has the Cost of Capital. Real estate has reached a new level of standardization with the introduction and application of RERA.
Why registration is mandatory for builders, brokers & agents ?
RERA was introduced to benefit both buyers and builders alike. As a builder, you must choose RERA project registration taking into consideration the following points:
- Buyers will not hesitate in investing in your project since you shall be required to deliver the space on time
- You can only advertise your project after your project is registered under RERA
- You will have received all clearances making your project a suitable choice for buyers
- You have the feasibility of complaining about any matter related to the project to RERA or the Appellate Tribunal
- RERA ensures quick dispute resolution with transparency
- The risk of insolvency is reduced since you shall be required to deposit 70% of the total amount of funds collected for the project into a separate bank account. This amount can only be withdrawn if the architect, engineer, and CA agrees to it.
Where can I get RERA registration?
As you may have understood now, Rera Consultancy Services and Rera registration is crucial for anyone involved in the real estate industry. So, when you come to Foot2Feet.com looking for your RERA registration consultant, you shall find a team of professionals ready to work with you. We shall take care of the entire process, right from documentation to finally acquiring the RERA registration certificate.
With our Rera consultancy services your RERA registration application will be approved within 15 days of the application. We work for RERA registration in pune or rera consultant in Mumbai as well as all major cities in Maharashtra like Nagpur, Aurangabad, Solapur, Nanded, Nasik, Kolhapur or all talukas in Maharashtra.
What is Rera registration process?
As a promoter (builder, developer, society, development authority), you shall have to follow the procedure necessary for RERA registration.
- Gather all necessary documents with the help of a well-prepared check-list
- Open a bank account according to the specifications mentioned in the RERA act under Section 4 (2) (I) (D)
- Fill and submit Form A for registration
- Fill and submit Form B as a declaration that you are a part of the real estate industry abiding by RERA regulations
- Prepare and submit a draft agreement for the sale and allotment of the particular project.
- Fee Payment for the state of Maharashtra is minimum of Rs. 10000/- and increase as per plot size.
- Every document related to sales shall include your unique RERA registration number
- You shall be required to maintain proper books of accounts and transactions
Documents required for project registration
- Builder’s PAN card, Aadhar Card & passport size photograph
- Copy of the legal title report
- Details of encumbrances
- Copy of Layout Approval (In case of layout) and Building plan Approval (OD)
- Signed Proforma of the allotment letter and agreement for sale
- Declaration in FORM B
- Certificate of Architect. (Form 1)
- Certificate of CA(Form 3)
- Certificate of Engineer (Form 2)
- Commencement Certificate
- Partnership deed if partnership firm
- Self Regulatory Organizations RPM number
Documents required for Real Estate Agent Registration
A) Individual Registration
- Copy of the PAN card of the
- Copy of the Aadhaar card;
- Copy of the address proof;
- Copy of ITR for last 3 Years
- Basic details of the real estate agent such as name, address, contact details, and photographs
B) Registration for LLP/Partnership Firm/ Company
- Pan Card of Firm / LLP/ Company
- Pan Card of All Partners / Directors
- Partnership Deed Copy
- Certificate of Incorporation (only for LLP / Company)
- Address Proof for all Partners / Directors
- Copy of ITR for last 3 Years
- Business Address Proof if different from above
- MOA & AOA of Copy (For Company)
When Should I Get a RERA registration Number?
Under the act, all residential and commercial properties will have to register under RERA, especially those which:
● Have a land-use of 500 square meters or over
● Have eight apartments or more
If you have an ongoing project that has not yet received a Completion Certificate, then you will need to apply for RERA registration within three months.
What if I do not register under RERA?
RERA registration for builders is mandatory under the act.
According to the regulations given under RERA, Section 59 states that in case a project is not registered then a penalty of up to 10% will be charged based on the estimated cost of the said project. In case the promoter decides not to register in spite of this fine, an additional 10% of the penalty shall be borne by the promoter. This could also come with a three-year imprisonment sentence.
Let’s say you registered under RERA but gave false information about an aspect related to the project, then you shall be charged with a 5% penalty of the estimated cost of the project.
If you wish to avoid such hassles, then consider hiring an expert RERA consultant and get Rera consultancy services in Pune from Foot2Feet.
Is there any validity for this registration?
You, as a promoter, shall have the upper hand in deciding the validity of your RERA registration. This could either be until the completion of the project or a period as mentioned in the affidavit.
In case you wish to extend the registration period, you may be granted under the following circumstances:
● A natural calamity or a situation like the war may hinder the development process
● If you have given a suitable reason that the authority finds acceptable, then a maximum of one-year extension shall be provided