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Soumya Bajpai
| Updated: 16 Jun, 2020 | Category: RERA

Fees levied by RERA Punjab on agents and promoters

Fees levied by RERA Punjab on agents and promoters

The authority has issued an order on levying of RERA Online ‘Convenience fee’ on the promoters/real estate agents. The convenience fee has been decided in the exercise of the powers vested under Para 33 of the (RERA Punjab)Real Estate Regulatory Authority (General) Regulations, 2017. The authority accordingly calls upon the Promoters and Real Estate agents to pay the fees on or before March 31 st 2020 and avoid any legal action under the law.

Highlights of the Circular Notice of RERA Punjab

  • All the Projects and Real Estate Agents which have already been registered with the authority as on date must be liable to pay the composite Web Maintenance Fee for the entire period of validity of Registration Certificate, excluding the web maintenance fee as already paid by the Promoters/Real Estate Agents.
  • The fee must be payable in the same mode as the payment of Registration Fee payable under the Rules, under the “Composite Web Maintenance Fee.”
  • The matter has been reviewed considering practical convenience to the promoters and agents. It has been decided by an authority that instead of taking the fee annually at the beginning of each financial year, it must now be taken for the entire duration of the validity of Registration Certificate, at the time of registration, as tabulated below:
Type of Transaction Duration for a charge of fees at the time of registration Composite Web Maintenance Fees
  Real Estate Agents at the time of an application for the Registration or Renewal     5 Years   Rs. 5000 for 5 years (Rs. 1000 p.a.)
Promoters of New or Ongoing projects at the time of an application for Registration or Extension   From the date of registration, till the date of completion of the project Rs. 5000 p.a. for each financial year or part thereof.

How to register projects in RERA Punjab

register projects in RERA Punjab

Documents Required for Punjab RERA Real Estate Project Registration

The documents needed can be classified depending on the categories mentioned below:

  • Details of Promoter: PAN number, Aadhaar number, company registration certificate, passport size photographs, information about the parent entities, etc, are required for RERA Registration for Promoters.
  • Financial Information: Profit and loss statement of the last three years, cash flow statement of the last three years, annual balance sheet, auditor’s report, etc. are attached.
  • Project Information: The project specifications, start and end date of the project, amenities, development plan, litigation details, documents that are to be signed with the allottees, etc.
  • Project Land Details: The land area, latitude, and longitude of the start and endpoint, title deed, encumbrance details, and approved project plans also need to be attached. 
  • Project Updates: The construction details, parking details, external development works, proposed facilities, etc.

How to get registered as Real Estate Agents

registered as Real Estate Agents

Documents Required for Punjab RERA Real Estate Agent Registration

All relevant contact information of the real estate agent needs to be submitted for RERA registration for Agents with the following documents:

  • PAN card
  • Aadhaar card
  • Income tax returns
  • Details of the enterprise
  • Duly filled form
  • Proof of registration fee has been paid (copy of the Demand Draft)

Details to be uploaded on the website

The authority must ensure that the following information must be made available on its website in respect of the each project registered under the Act, namely:-

A. Details of the promoter include the following:

  • Promoter or group Profile
  1. A brief detail of his enterprise, registered address,  including its name, type of enterprise (proprietorship, society, partnership, limited liability partnership, company, competent authority), and the particulars of registration. In case of the newly incorporated or registered entity, brief details of the parent entity including its registered address, name, type of enterprise (proprietorship, society,  partnership, company, limited liability partnership, competent authority)
  2. Background of promoter– work experience of promoter and in case of the newly incorporated or registered entity, work experience of the Chairman, Partners, Directors and that of the authorized persons of the parent entity;
  3. Name, contact details address, and photographs of the promoter in case of an individual and the address, name, contact details and photograph of the Chairman, Partners, Directors, as the case may be, and that of the authorized persons;
  • Track record of the promoter
  1. The years of experience of the promoter or parent entity, in real estate development in the State of Punjab
  2. The of years of experience of the promoter or parent entity, in real estate development in other States or Union Territories;
  3. The completed projects and area constructed till date in the past five years, including the status of the projects, details of the type of land, delay in its completion, and payments pending;
  4. The ongoing projects and proposed area to be constructed
  5. The details and profile of ongoing/completed projects for the last 5 years as given under clause (b) of sub-section (2) of the Section 4
  • Litigations: The details of litigations in relation to the real estate projects being registered with the authority
  • Website: web link to the promoter or parent entity, and weblink to the project website

B. Details of the real estate project include the following

  • Advertisement and prospectus issued with regards to a project
  • Compliance and registration
  1. Authenticated copy of approvals and the commencement certificate from a competent authority as given under clause (c) of subsection (2) of Section 4;
  2. The sanctioned plan, layout plan and the specifications of project or the phase  and whole project as sanctioned by the competent authority as given under clause (d) of subsection (2) of Section 4;
  3. Details of the registration granted by an authority; 
  • Apartment, plot, and garage or covered car parking in stilt and basement related details
  1. The details of number, type and carpet area of  an  apartment for sale in the project along with the area of the exclusive balcony or verandah areas and the exclusive open terrace areas with an apartment, or details of the number, type and area of plots for sale in the project or both,
  2. The details of number and areas of a garage or covered car parking in stilt and basement for sale in the project;
  3. details of number of open parking areas and covered parking areas available in a project;
  • Real estate agents registered under the Act their names and addresses of real estate agents for the project;
  • Consultants– details, including name, addresses of contractors, architect and structural engineers also other persons concerned with the development of the project such as name and address of the person, names of promoters, year of the establishment; andnames and profile of key projects completed;
  • Location– the details of location of the project, with clear demarcation of land dedicated for project along with boundaries including the latitude and longitude of the endpoints of the project;
  • Development Plan-the plan of development works to be executed in a proposed real estate project and proposed facilities to be provided including fire fighting facilities, drinking water facilities, emergency evacuation services, use of renewable energy, etc.;
  • Amenities- a detailed note explaining salient features of the proposed project including access to project, design for electric supply including street lighting, site for disposal, water supply arrangements, and treatment of storm and sullage water, also any other facilities and amenities or public health services proposed to be provided in the project;
  • Project schedule– The plan of development works to be executed in the project details of the proposed facilities to be provided thereof and timelines to achieve the same, and also detailed specification of design of apartment and materialto be used;
  • The stage-wise time schedule of completion of the real estate project, including the provision for civic infrastructures like water, sanitation, and electricity, etc.;

C. Financial details of the promoter

  • Authenticated copy of the PAN card of promoter; 
  • The annual report included audited profit and loss account,  cash flow statement,
  • Balance sheet,
  • Director’s report and auditor’s report of the promoter for immediately preceding 3 financial years. In case where annual report is not available, 
  • The audited profit and loss account, cash flow statement balance sheet, and the auditor’s report of promoter for the immediately preceding 3 financial years
  • In the case of a newly incorporated or registered entity, such information shall be disclosed for the parent entity.

Read our article:Everything You Need to Know Regarding the RERA

D. A promoter must upload the updates on the webpage for the project, within 15 days from the expiry of each quarter

  • List of numbers and types of apartments or plots booked.
  • List of number of garages or covered car parking in stilt and basement for sale and booked
  • Status of the project such asstatus of construction of each building with photographs, the status of construction of each floor  and internal infrastructure and also common areas with photographs;
  • Status of approvals such as approval received, approvals applied and expected date of receipt, approvals to be applied and date planned for application for modifications, revisions, amendment issued by the competent authority in regard to any sanctioned plan, specification, license, layout plan, permit or approval for the project.

E. Details of approvals, permissions, clearances, legal documents

  • Approvals
  1. The authenticated copy of license or land use permission, building sanction plan and commencement certificate from the competent authority obtained in accordance with laws applicable for the project, and where project is proposed to be developed in phases, an authenticated copy of a licenseor land use permission, building sanction plan, thecommencement certificate for each of such phases;
  2. Authenticated copy of site plan or site map showing the location of project land along with names of revenue estates, khasra/khautni numbers and area of each parcel of a project land;
  3. Authenticated copy of layout plan of real estate projector phase and also the layout plan of whole real estate project as sanctioned by a competent authority and other specifications of the real estate project ;
  4. Authenticated copy of the occupancy certificate and completion certificate includes application;
  5. Floor plans for each tower and block include clubhouse, amenities and common areas;
  6. Other permission, approval, or license that can be required under applicable
  •  Legal Documents
  1. The details including the application form, allotment letter, agreement for sale and the conveyance deed;
  2. Authenticated copy of legal title deed reflecting the title of promoter to the land on which development of the project is proposed along with legally valid documents with authentication of such title, if such land is owned by another person;
  3. Land title search report from an advocate having experience of at least ten years;
  4. Details of encumbrances on land on which development of the project is proposed including details of any rights, interest, title, and name of any party in or over such land or non-encumbrance certificate by an advocate having experience of at least 10 years from the revenue authority not below the rank of Tehsildar,
  5. Where a promoter is not the owner of the land on which development is proposed, details of the consent of the owner of land along with a copy of the collaboration agreement, joint development agreement, or any other agreement, entered into between the promoter and such owner and copies of the title and other documents reflecting the title of such owner on the land proposed to be developed;
  6. Details of mortgage or charge, created on the land and the project.

The authority must ensure that the information is available on its website in respect of each real estate agent registered with it or whose application for registration has been rejected or revoked, namely:-

A. For real estate agents registered with the authority

  • Registration number and period of validity of registration of real estate agent with authority;
  • Brief details of his enterprise including name, type of enterprise (proprietorship, society, partnership, company, etc.
  • , registered address,
  • Particulars of registration including the bye-laws, articles of association, memorandum of association, etc., as the case may be;
  • Photograph of real estate agent if he is an individual and the photographs of the partners, directors, etc. in case of other persons;
  • Authenticated copy of the PAN card;
  • Authenticated copy of the address proof of place of business and the contact numbers, contact address, and email-ids of a real estate agent and other officials responsible. 

B. In case of applicants whose application for registration as a real estate agent have been rejected or real estate agents whose registration has been revoked by an authority 

  • Registration number and period of validity of registration of real estate agent with authority;
  • Brief details of an enterprise including its name, type of enterprise (proprietorship, society, partnership, company, etc.
  • Registered address
  • Photograph of a real estate agent if he is an individual and the photographs of directors,  partners, etc. in case of other persons. 

C. Such other documents or information as be specified by the Act or the rules and regulations made thereunder

  • The authority has to maintain in digital form, of the contents of its website in terms of this rule, and also ensure that such back-up is updated on the last day of each month.

Conclusion

In exercise of the powers mentioned under Section 85 of the Real Estate (Regulations and Development) Act, 2016[1] all other powers enabling it in that behalf, the Real Estate Regulatory Authority, Punjab with the approval of the State Government, can make changes and add the amendment as they find feasible.

Read our article:Guide on RERA Registration for Real Estate Agents

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Soumya Bajpai

Soumya has done LLB (Hons) and has a 2+years experience in writing. Her main interest is in reading judgments, new enactments and amendments taking around in law. She always strives to bring the best to work that she does.

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