RERA (Real Estate Regulatory Authority) is an act for the promotion and regulation of the real estate sector to ensure the sale of apartment, plot, or building efficiently and transparently. The Act aims to preserve the interest of consumers. It was established by the Parliament in May 2016 and the Act has come into force with all its 92 sections from 1st May 2017 across India. So far, 14 states and union territories like Uttar Pradesh, Madhya Pradesh, Odisha, Gujarat, Bihar, Andhra Pradesh, and Maharashtra have notified their rules with RERA, and the others are expected to follow suit. Regulatory rights are established at the state level, governing authority is liable for registration and other similar approvals to register commercial and residential projects. RERA registration ensures greater transparency by reducing the chances of delays and frauds that occur in these real estate contracts.
RERA registration can be done with the guidance of experts and here at SK Tax Law Firm, you will be able to get done with your RERA registration with a simple process.
As per the RERA Act, RERA committees have been set up across India to regulate the real estate sector. With RERA, every developer and builder is required to inform homebuyers of the construction progress and offer the keys to their property by the notified date and abide by every rule described by RERA, to assure accountability.
Following are the main objectives of RERA registration:
There are the following documents required for registration under RERA:
For the RERA registration process, an application form will be filed alongside expense and necessary documents.
RERA registration has various key-impacts on real estate industries:
RERA registration for agents remains valid for a time being of one year or more depending on the amount of fee paid. The agent can renew their registration at the end of its period. In case of any misrepresentation, fraud, or breach of authority possess the right to revoke the agent’s registration at any time.
To check for RERA registration, you can visit the RERA website of the concerned state, then go to the verify option. On the next page, you can select the registration type, enter the registration number, fill the captcha, and click on ‘verify’.
Here are some guidelines of RERA:
In the case of non-registration of the real estate project, Section 59 imposes a penalty of up to 10% of the estimated project cost, and in case of continued default, an extra-fine up to 10% of the estimated project cost or imprisonment up to three years or both.
RERA registration fees vary according to the different categories of applicants. SK Tax Law Firm provide RERA registration service at very pocket-friendly rates as per the need of clients.
SK Tax Law Firm provides this RERA service with the assistance of skilled team members as per client diverse requirements. They put their greatest efforts to attain complete customer satisfaction by providing them with the best solution. Our staff members closely communicate with the customers and provide these well-managed RERA registration number services as per their needs. Also, the RERA registration process time with us is minimum. You can reach us if you face any problem or contact us, send your query at info@sktaxlawfirm.com, or call us at +91-9719586772.