{"id":15139,"date":"2020-08-21T15:36:11","date_gmt":"2020-08-21T10:06:11","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=15139"},"modified":"2020-08-21T15:36:13","modified_gmt":"2020-08-21T10:06:13","slug":"online-rera-registration-for-builders","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/online-rera-registration-for-builders\/","title":{"rendered":"Is it mandatory to have RERA registration for Builders?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Real Estate Regulation &amp; Development Act was brought in India in May 2016 after a decade of real estate being tormented at the hands of the powerful builders. Now, the <strong><em>RERA Act<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Real_Estate_(Regulation_and_Development)_Act,_2016\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> mandates all the ongoing and new RERA projects to register with respective RERA Authorities under the ambit of <strong><em>Section-3<\/em><\/strong> of the Act. <\/p>\n\n\n\n<p>In the case of the non-registration, they will attract <strong><em>penalties under Section-59<\/em><\/strong> of the Act. It is mandatory to have <a href=\"https:\/\/corpbiz.io\/rera-registration\"><strong>RERA registration<\/strong><\/a> for builders of the real estate projects with RERA Authorities. In case they fail to comply with the quarterly compliance as mandated under the Act and Rules, they may have to face complaint filing against them.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Benefits of RERA Registration for builders<\/h3>\n\n\n\n<ul><li>The buyers are expected to occupy a residence <strong><em>within 2 months<\/em><\/strong> of the Occupation Certificate. This is good news for builders as it reduces unoccupied properties.<\/li><li><strong><em>Lenders will be more willing to provide a flow of money<\/em><\/strong> to the builders due to renewed faith and transparency provided by RERA norms.<\/li><li>RERA mandates <strong><em>the regular payments from the buyers,<\/em><\/strong> including registration fees, maintenance charges, taxes, installment payments, water and electricity charges, etc. There is a relief to builders who often used to bear defaulted payments from the homebuyers.<\/li><li>The real estate sector is more organized as there will be less fraudulent and unreliable builders who made the sector otherwise unorganized. Such cleaning <strong><em>will increase buyer trust in the builders<\/em><\/strong>, and the credibility of all registered developers will increase.<\/li><li>There will be <strong><em>fewer incidents of insolvency and bankruptcy<\/em><\/strong> in builders, as 70% of the funds will be correctly engaged in the project and not moved around for other projects.<\/li><\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/penalties-under-rera-on-builders-and-agents\/\">Penalties under RERA on Builders and Agents<\/a><\/mark><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/online-rera-registration-for-builders\/#How_can_a_builder_register_under_RERA\" >How can a builder register under RERA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/online-rera-registration-for-builders\/#Documents_needed_for_RERA_Registration_for_builders\" >Documents needed for RERA Registration for builders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/online-rera-registration-for-builders\/#Penalties_imposed_by_RERA_on_builders\" >Penalties imposed by RERA on\nbuilders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/online-rera-registration-for-builders\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_can_a_builder_register_under_RERA\"><\/span>How can a builder register under RERA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"625\" height=\"272\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-89.png\" alt=\"builder register under RERA\" class=\"wp-image-15146\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-89.png 625w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/08\/image-89-300x131.png 300w\" sizes=\"(max-width: 625px) 100vw, 625px\" \/><\/figure><\/div>\n\n\n\n<ol><li><strong><em>Fill an application<\/em><\/strong> form for registration along with required documents and registration fees. The fees calculated on the basis of project type and the square meters (detailed fee structure is mentioned on RERA websites).<\/li><li>After the application, builders <strong><em>will receive a RERA registration number<\/em><\/strong>, which is to be displayed in every advertisement of projects.<\/li><li>The process of granting RERA registration for builders may take up to <strong><em>30 days<\/em><\/strong>.<\/li><li>The project can receive an extension in case of natural calamities or any other case if deemed reasonable by RERA (the extended period is usually <strong>1 year<\/strong>).<\/li><li><strong><em>RERA holds the right to cancel the RERA registration<\/em><\/strong> for builders if he defaults, violates the laws, misrepresents facts, conducts unfair practices, or falsely advertises services.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_needed_for_RERA_Registration_for_builders\"><\/span>Documents needed for RERA Registration for builders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Each state has its requirements for which\nthe state government maintains RERA websites where one can find exact\nspecifics. However, the commonly needed documents for RERA registration for\nbuilders.<\/p>\n\n\n\n<ul><li>Authenticated copy of a PAN Card<\/li><li>Photograph, contact details, address of the builder<\/li><li>Builder\u2019s <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>Income Tax Returns<\/strong><\/a> of the last 3 years and balance sheet<\/li><li>Legal title deed attested by the Advocate<\/li><li>In cases where a builder is not the landowner, any agreements made between the owner and the builder are done with the owner&#8217;s consent letter<\/li><li>Documents related to the project such as sanctioned plan, floor plans, proposed plan, parking area arrangements, carpet area, TDI and FSI details, proposed numbers of buildings\/wings, the aggregate area of the open common spaces<\/li><li>Architecture and Design Standards, Type of Construction Technology, Earthquake Resistant Measures<\/li><li>Name and number of contractors, architects, engineers, and any other professionals involved in the construction<\/li><li> Details of the total duration of the project and completion date <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Penalties_imposed_by_RERA_on_builders\"><\/span>Penalties imposed by RERA on\nbuilders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The <strong><em>non-registration penalty is10% of the estimated<\/em><\/strong> cost of the\nproject. Further non-compliance with respect to registration may lead to\nimprisonment for three years, with or without a fine.<\/li><li><strong><em>False presentation of information is penalized at 5%<\/em><\/strong> of the total cost of the project.<\/li><li><strong><em>Non-compliance or contravention<\/em><\/strong> of\nany RERA order is calculated based on defaulted days and may add up to <strong><em>5% of\nthe project&#8217;s cost<\/em><\/strong>.<\/li><li><strong><em>Not abiding by the Appellate Tribunal&#8217;s decision<\/em><\/strong> may lead to imprisonment of three years with or without a fine,\nleading up to <strong><em>5% of the project&#8217;s total cost<\/em><\/strong>.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This is a misconceived notion among buyers\nand even builders that a complaint can only be filed against a registered\nproject. The law under its ambit is very specific, and it nowhere mentions a\nco-relation between both. Many RERA Authorities have even passed landmark\njudgments clarifying this point of law for buyers and builders that RERA\nRegistration and complaint filling have nothing to do with each other.<\/p>\n\n\n\n<p>An aggrieved homebuyer can file the RERA complaints against any of the builder before the appropriate RERA Authority. At <a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a>, we help our clients to obtain RERA registration and also help them in RERA complaints with the proper guidance for the same.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/save-the-project-from-rejection-by-rera-authority\/\">How one can save the project from Rejection by RERA Authority<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Real Estate Regulation &amp; Development Act was brought in India in May 2016 after a decade of real estate being tormented at the hands of the powerful builders. Now, the RERA Act[1] mandates all the ongoing and new RERA projects to register with respective RERA Authorities under the ambit of Section-3 of the Act. [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":15141,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[182],"tags":[904],"acf":{"service_id":"320"},"authorName":"Soumya Bajpai","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/01\/0.jpg","authorDescription":"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.","postViews":7548,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15139"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=15139"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15139\/revisions"}],"predecessor-version":[{"id":15148,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/15139\/revisions\/15148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/15141"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=15139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=15139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=15139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}