What Is Real Estate Regulatory Authority (RERA): Meaning, Registration Process, Documents & Penalties

There might be a situation where you have to deal with a real estate builder to get your dream house or a property which is in dispute. There could be other challenges like how and what action to take with RERA to make your case strong. Our experts will help you deal with all such scenarios and get a favourable result.  

Our real estate expertise helps in:

  1. Reducing project delays and property frauds
  2. Protecting interests of buyers and sellers
  3. Ensuring accountability and transparency in real estate
How Lead India helps in the RERA matters?

Our consultant will discuss the issue over a 24X7 helpline “Samadhan”

Step 1

A detailed analysis of your case will be done by an experienced lawyer

Step 2

You will be able to track your case with a personal account

Step 3

What Is A Real Estate Regulatory Authority?

It is enacted to promote the real estate sector and regulate the transactions to ensure that they are held in a transparent manner. The Act has been passed by the Parliament in the year 2016 and it came into force in the year 2017. The Act contains 92 sections. The regulation is applicable to commercial as well as residential properties.

Objective Of The Act

  1. To enact standard norms and regulate the real estate projects in the interest of buyers
  2. To ensure transparency in the sector
  3. To hold the sellers and agents accountable for the transactions
  4. To ensure that the real estate projects are not unnecessarily delayed  
  5. To ensure that the Consumers are not misled by the agents with regard to the genuinity of projects.

Documents

List of Documents required for the Registration
  • Builder’s PAN Card
  • Balance Sheet and Income Tax returns filed by the builder for the preceding three years
  • All the details of the project, like the location, floors of the building, parking area, etc.
  • Declaration has to be made by the builder that he has a legal right or ownership over the land and the details, along with the proof of ownership.
  • Details of all the persons involved in this project
List Of Documents Required For The Registration Of Agent

ID proof and address proof of the applicant
Agent company details like the name and address of the company, etc.

Process

What is the procedure for registration?

The procedure for registration under the Act varies from state to state.

  • File an online application with all the above specified documents on the official RERA website of the respective state.
  • Pay the fees prescribed on the website
  • On verification a certificate would be issued, this has to be mentioned during the sale of the property.
  • The certificate has to be issued by the authorities within 30 days 
  • In case of any disparity, the authority reserves the right to reject the application. The act also provides that, before any application is rejected, the applicant will be given an opportunity to provide justification.

Procedure For Registration Of Agent

  • File an online application with all the above-specified documents on the official RERA website of the respective state.
  • Pay the fees prescribed on the website
  • On verification a registration number would be issued, this has to be mentioned during the sale of the property.

Complaint Filing Procedure Under The Act

  • Any person aggrieved by an offense under RERA may file a complaint.
  • The complaint can be filed by filing an application online
  • All the complaints filed under the Act are required to be resolved within 120 days of filing.
  • In case the complainant is not satisfied with the decision of the RERA and its presiding, they may file an appeal before the RERA appellate tribunal within 60 days from the date of the decision.

Circumstances Under Which Registration Is Not Required Under RERA

Under following conditions, it is not necessary for a builder to register under RERA:
  • Where the area of land is 500 square meters or less
  • When the work involved is renovation, redevelopment or repairs to the existing building
  • Where the project began before the enactment of the RERA Act.

Penalties Under The Act

The Act prescribes the following punishments for offenses:
  • 10% of the costs that are estimated on the Project in case of non-registration of a project under RERA.
  • In case any builder or agent violates any provisions under the Act then he would be liable for 3 years of imprisonment and/or payment of costs up to 10% of the estimated Project cost.
  • 5% of the Project costs in case the builder or agent provides mendacious information.

Need Help?

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FAQs On RERA

The full form of RERA is the Real Estate Regulatory Authority.

It is enacted to regulate commercial and residential projects in the real estate sector.

Yes, the Act makes registration mandatory for all the projects carried on land above 500 meters, failure to register attracts penalties under the Act.

Till date 14 States have approved the provisions of RERA.

Registration fees under RERA vary from State to State. However, the prescribed fee is mentioned on the respective State RERA website.

How Lead India Can Help You?

  1. Expert Advice - We have the most experienced set of Advocates & provide you with the best guidance for filing and redressal of your issues.
  2. Zero Stress -  Our Associate will perform all the necessary actions at the court, so the clients do not have to suffer. 
  3. Top Quality Lawyers - Lead India will help you to choose among the best lawyers for your case. There are different associates who work with us, you can choose a lawyer depending upon their practice area, experience & user rating. 
  4. Track Your Case - We provide you the opportunity to track your cases from the online dashboard. You can easily track your case status, payment status, etc.

Trishna Kumari

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