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RERA Registrations and Extensions
RERA REGISTRATIONS
AND EXTENSIONS
What is RERA?
RERA stands for Real Estate Regulatory
Authority.
It was introduced by the Real Estate
(Regulation and Development) Act, 2016.
It aims to setup a supervisory authority at
the state level to bring transparency to the
sector of real estate, by managing the
registration and functioning of the real
estate projects.
Objects of RERA
Higher levels of transparency.
Setting accountability standards.
A dispute resolution system.
Easy flow of information between the
agent and the buyer.
To provide a uniform regulatory
environment.
Creating investor confidence.
Who all need to apply for
Registration under RERA?
Commercial and Commercial and Local small
Incomplete or
residential real residential project
ongoing projects
estate agents projects promoters
The act has All the
All the The small
been projects
ongoing real estate
extended to exceeding
projects agents also
commercial 500 square
have to need to
and metres and
apply for apply for
residential having more
RERA RERA
real estate than 8
Registration Registration
agents, also units/apartm
within 3 under
including ent are also
months of its respective
plotted supported by
beginning state laws
development this act
Who all don’t need to register?
If the promoter has already
completed the project before the
commencement of the act and has
a certificate of completion for the
If the promoter has
same. The area of land is not completed the project more than 500 square
If the area of the land is smaller before the metres
than 500 sq. mts. then obviously, commencement of the act
the act cannot be brought into Who all
play. don’t need to register?
Again, if there are not more than
8 units in the apartment, the act When there is a There are not more than renovation of the building
would not come into play. 8 units in the apartment going on
When the repair or renovation of
a building is under progress, and
does not require the marketing,
advertising and selling, then it
won’t be necessary to register it
under RERA.
Project
details
Copy of Develop-
PAN card ment plans
Documents
Ownership Title deed
docu- required to along with
ments chain of register an titles
ongoing
Details of
engineers, project Aadhar
architects card of the
etc. promoter
Other Audited
docu- ITR for the
ments past 3
required years
Procedure for RERA application
I. Approval of various sale and allotment
documents.
II. Get a title search report for the
proposed land.
III. Obtain the mandatory and necessary
permissions, licenses and NOCs from
the Government Authorities.
...contd.
IV. Nextly, you need to apply for the
registration by filing the Application
Form A with the respective authority.
V. Pay the required fees for RERA
Registration.
Consequences of non-
registration
According to S. 59 of the Act,
there will be a penalty of 10% Consequence
s of non-
of the estimated project cost registration
upon non-registration.
In case of continuous default,
there will be an additional fine
up to 10% of the estimated
project cost and an Added 10% penalty or 3
imprisonment of 3 years or Penalty of up to years 10% of imprisonment or
both. estimated both for project cost repeated
offenders
What are RERA Extensions?
A RERA Registration is valid for a period that
has been decided by the promoter for the
completion of the project.
A RERA Registration validity period may be
easily found out from the affidavit submitted
along with the RERA Registration Application.
However, this period can be extended to a
further time limit if the promoter submits an
application for extension to the authorities.
However, there are only some specific
conditions under which a RERA extension may
be granted.
Circumstances under which
extension may be granted
Force majeure Other than Force Majeure
In case of a natural
calamity affecting the If the authority finds the
real estate project. reasons for extension appropriate.
*It may be noted that the extension can be granted only for a maximum of 1 year*
can a RERA registration be
revoked?
Yes, a RERA Registration can be revoked
under certain conditions.
There are certain compliances that need to
be followed while the project is in progress.
If the compliances are not complied with
during the working of the project, there will
be revocation of the RERA Registration.
What may lead to revocation?
Revocation can take place through two
ways, which are as under:
On the basis of a complaint of non-
compliance received by the authority.
On suo moto basis by giving a notice to the
promoter by the respective authorities on the
non-compliance with required terms and
conditions.
After the preliminary inquiry a show cause
notice is sent to the promoter.
Grounds for
issuance of
show-cause
notice
In case of If he is found
violation of to be
terms and indulged in
conditions by fraudulent
the promoter activities or
In case of malpractices
default by the
promoter
conclusion
Therefore, to conclude we can say that the
RERA Act has brought about some great
changes in the real estate sector. This act
tries to efficiently encourages the small real
estate projects and promoters and shows
great hope for the future of real estate
business in India.
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