Following Are the Information Which the Promoters/Builders Have To Provide During Their Registration Process in RERA.

RERA Registration Process(a). Pan card of the promoter/builder.
(b). The information of income tax returns for the three previous financial years with the audited balance sheet of the promoter/builder of the previous financial year.
(c). The promoter/builder must clarify the number of open parking spaces.
(d). A legal copy which certifies the possession of the land in the name of the promoter/builder where the project will be constructed. He must be in possession of all the valid documents in case the land belongs to someone else.
(e). The proper details of the land should be provided i.e. matters related to mortgage, rights, title etc. of the land.
(f). In case the promoter/builder is not the owner of land, then he must he must bring a consent letter of the actual owner with documents related to collaboration, agreement and joint agreements which shows a mutual agreement between the promoter/builder and the owner.

All the above mentioned documents shall be provided in hardcopy until the process of web portal starts in RERA India website.

II – Registration Fee -A registration fee has to be submitted by the promoter/builder during the registration application with the use of demand draft from a bank. The registration will be set according to some calculations which are:

(a). Rs10 per sqm. on land less than 1000 sqm. and Rs20 per sqm. on land more than
(b). Rs50 per sqm. on commercial less than 1000sqm. and Rs100 per sqm. on commercial land more than 2000sqm.

III – During all these procedures and in the overall process in a real estate, a promoter/builder cannot discriminate against any buyer on the grounds of sex, religion, caste, gender identity etc. during the allotment time.

IV –Cancellation of registration - If a promoter/builder applies for a withdrawal from the registration form before the expiry period of 30 days, a sum of Rs 50,000 or 10% of the project of the fee paid earlier (whichever is more) will be retained by the authority. The remaining amount will be returned within a month of cancellation application.

V – Rules regarding the disclosures of existing projects by the promoters/builders -

(a). In case the promoter/builder has not been able to receive the completion certificate will have to make an application in RERA (Real Estate Regulatory Authority) within the specified time.
(b). The promoter/builder has to provide all the details regarding the project as mentioned in the bill which should also include the status of a project’s completion.
(c). The promoter/builder has to disclose the carpet area of a flat. The disclosure is mandatory even if the sale has been done with either built-up area or super built-up area. Moreover, the validation of an agreement will not be affected with such disclosure.
(d). The plot area should be disclosed when dealing in plots. (through latitudes and longitudes coordinates).

VI – Where Withdrawal of money from the separate account can be made-

(a). In matters of land documents relating to purchase, lease rights etc. for a promoter/builder.
(b). In matters related to construction work on the physical development of a project.

VII – Matters related to approval and rejection of a registration application -

(a). If a project gets registered under RERA, it will get a registration certificate and a registration number.
(b). If a registration application gets cancelled on the grounds of any faults, the applicant will get proper notice as sanctioned under RERA.

VIII – Matters related to the Extension of registration granted -

(a). There should a gap or minimum three month between the extension date of approval of registration to the date of expiration of the registration.
(b). In case a promoter/builder wants to extend his registration period, he will have to make such application with twice the amount of demand draft fee form the first time registration application. Also, he has to produce documents reasoning the extension of the registration and why the project got delayed in the stipulated time.

In case of forca majeure (superior force or unavoidable accident), the authority have in its power avoid the submission fee of extension application.

(c). The extension will not be more than the period provided by the local laws for completion of a project.
(d). RERA will inform a promoter/builder in case of registration or rejection of the extended application.
(e). In case of revocation of registration of a project, RERA will inform the concerned promoter/builder.

XI – Agreement of Sale – If a buyer makes an agreement to sale with a seller where the plot or the flat is not registered under RERA, then he cannot be subjected to the agreement limits.

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