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RERA Registration

Struggling with the RERA registration process? Choose Canjain to streamline your journey to be compliant and successful in registration under the RERA Act!

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RERA Registration- An Overview

Are you a real estate agent, a developer, a builder, or a local promoter working on real estate projects? If yes, you must secure RERA registration. RERA stands for Real Estate Regulatory Authority.

RERA registration, which crucially addresses the existing issues in the real estate sector is governed under the Real Estate (Regulation and Development) Act, 2016. Furthermore, the RERA Act implemented at the state level is responsible for the registration of commercial properties/ residential flats (i.e., RERA project registration) and the regulation of sale and purchase transactions of real estate through RERA agent registration.

Furthermore, registration for RERA ensures boosting real estate investments by protecting the interest of home purchasers and other investors making investments in real estate projects. The registration of all real estate projects under the RERA Act, 2016 enables Authority’s jurisdiction over the project.

Obtain a RERA certificate with the help of our experts and ensure transparency in the real estate sector.

What is the Objective of RERA Registration Online?

RERA registration online under the Real Estate (Regulation and Development) Act, 2016 ensures regulating the real estate properties at the State level. It further intends to maintain transparency and greater accountability by reducing the occurrence of fraud & delay during the real estate contract. Moreover, the RERA Act sets up an Appellate Tribunal for appeals arising from the orders, decisions, or directions of RERA.

Benefits of Obtaining RERA Registration Certificate
  • The benefits of obtaining RERA registration certificate under the Real Estate (Regulation and Development) Act, 2016 are as discussed below:
  • Timely Possession of the Property
  • RERA Registration ensures timely possession of property on the estimated project completion date. However, in case of failure, huge penalties will be imposed on the promoter.
  • Reduced Fraud
  • The RERA registration certificate ensures the adherence of promoters and agents to various compliances to reduce fraud or any chance of misappropriation.
  • Enhanced Trustworthiness
  • RERA certificate promotes the trustworthiness of the promoters and agents registered under the Real Estate (Regulation and Development) Act, 2016.
  • Consumer Protection
  • RERA registration certificate enables consumers to be protected from fraudulent activities by promoting transparency and accountability in real estate transactions.
  • Access to RERA Projects
  • Only the registered promoters and agents are legally authorized to access RERA projects registered under the Real Estate (Regulation and Development) Act, 2016.
  • Legal Authorization
  • RERA registration grants legal authorization for the advertisement, marketing, booking, selling, offer for sale, or inviting individuals to purchase plots/ apartments/ buildings covered under the RERA Act.

 

Eligibility Criteria for RERA Project Registration

The eligibility criteria required to apply for RERA project registration in India are as provided below:

Checklist for Obtaining RERA Certificate for Promoters

  • All private business ventures surpassing 500 square meters or in excess of 8 units/apartments.
  • All processing projects that received the completion certificate and are covered under the Act, and such other activities applying to RERA registration within 3 months.
  • Any person constructing or intending to build an independent building/apartment.
  • An individual or entity involved in modifying existing apartments for the purpose of sale.
  • For the purpose of sale, anyone developing land into a project.
  • Any development authority/public body constructing allottees of buildings or plots on land owned or disposed of by the government.
  • State-level cooperative housing finance society or a primitive cooperative housing society constructing buildings for its members.
  • Person claiming to hold power of attorney from the owner of the land or have legal possession of the land/property where the building or flat has been constructed for sale purposes.
Checklist- Who Can Apply for Real Estate Agent Registration?
  • Individuals above 18 or 19 years of age, vary from State to State
  • Cleared Real Estate License Examination of the State concerned
  • Completed the necessary pre-licensing education required according to the State’s educational qualification
Documents Required for Getting RERA Certificate

Have a look over the list of documents required for acquiring RERA certificate under Real Estate (Regulation and Development) Act, 2016, as enlisted below:

  • Certificate of Incorporation, CIN, TAN, MOA, etc. of the enterprise
  • Brief details of the project
  • Details of promoter
  • Commencement certificate/RERA Registration certificate from competent authority
  • Sanctioned plan, layout plan
  • Plan of development works
  • Proforma of allotment letter
  • Agreement for sale
  • Conveyance deed signed by allottees
  • Carpet area of apartments, area of garage in the project
  • Details of contractors, architect, structural engineer, etc.
  • Declaration/affidavit signed by promoter
  • Details of real estate agents
  • Particulars of real estate agent company (including name, bylaws, MOA, AOA, etc.)
  • PAN and address proof of real estate agent company
Procedure to Obtain RERA Project Registration

The procedure to obtain online RERA project registration, i.e., RERA registration for promoters as prescribed under the Real Estate (Regulation and Development) Act, 2016 are, as discussed below:

  • Filing of RERA Registration Form
  • Every promoter must file an application Form A to the Real Estate Regulatory Authority for the online registration of real estate projects in such form and manner as prescribed by the regulation.
  • Submission of Required Documents
  • The promoters are required to submit necessary documents along with the registration application to the Real Estate Regulatory Authority.
  • Payment of Registration Fees
  • The promoters are further required to make payment of registration fees as specified by the regulation made by the Real Estate Regulatory Authority.
  • Grant of Registration
  • Upon being satisfied with the application filed, the Real Estate Regulatory Authority grants registration certificate/ number/ RERA certificate within a period of 30 days.
Function & Duties under RERA Act

The functions and duties of both the promoters incorporating a real estate project and real estate agents, as prescribed under the provisions of Real Estate (Regulation and Development) Act, 2016 are as discussed below:

Functions of Promoters

  • Create a webpage comprising all details related to the proposed project on the website of the Real Estate Regulatory Authority.
  • Quarterly update the list of number and types of apartments, plots, garages booked, and approvals taken/pending subsequent to commencement/RERA certificate.
  • Advertise or issue a prospectus prominently mentioning the website address of the Authority, details of the registered projects, etc.
  • Provide sanctioned plans, layout plans, approvals by competent authority, stage-wise schedule of project completion, etc., to the allottee at the time of booking and issuance of allotment letter.
  • Responsible for all obligations, responsibilities, and functions as per the agreement of sale.
  • Obtain a completion certificate or occupancy certificate, or both from the relevant authorities.
  • Obtain a lease certificate in case the real estate property is developed on leasehold land.
  • Provide essential services required to maintain the project by the association of allottees.
  • Form an association, society, or cooperative society of the allottees.
  • Execute a registered conveyance deed.
Functions of Real Estate Agents
  • Avoid the sale/purchase of any plot, apartment, or building in the real estate project or being sold by the promoter in any planning area not registered with the Real Estate Regulatory Authority.
  • Maintain books of accounts, records, and documents as may be prescribed.
  • Avoid involvement in any unfair trade practices, falsely representing any statement, or permitting the publication of any advertisement not intended to be offered.
  • Must possess all the information/documents that the allottee is entitled to at the time of booking any plot, apartment, or building.
  • Discharge such other functions as may be prescribed from time to time.

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