RERA (Real estate regulation authority)
The Real Estate (Regulation & Development) Act, 2016 aims to establish the Real Estate Regulatory Authority that would regulate and promote the real estate sector. The main aim of the Act is to protect the interest or buyers and promote timely delivery of properties or projects.
All the projects either on land more than 500 sq. m or having at least eight apartments, including the one without completion or occupancy certificate must be registered. Developers have to post details like project plan, layout plan, approvals, land title status, details of promoters, contractors, architects, date of completion with the State RERA – Customers can access this information from the RERA websites.
1) RERA registration.
RERA makes it mandatory for all commercial and residential real estate projects where the land is over 500 square meters or eight apartments will have to register with regulator before launching a project. Every promoter shall make an application to the authority for registration of real estate project. Projects that are ongoing on the date of commencement of this act and for which completion certificate have not been issued have to get registered with RERA. If real estate project fails to register a property, it will attract penalty. Our team with dedicated resources will help you in enrolling the projects under RERA in very lucid manner.
2) RERA Quarterly returns & compliance.
Under the provision of RERA Act, it is mandatory for a promoter of the project to give quarterly updates of the Project failure of which lead to rigorous penalty under the provision of RERA act.
Our company will assist you in making quarterly compliances of all RERA enrolled project.
3) RERA certifications
Under the provision of RERA Act, it is mandatory for each promoter of the project to get certificate from CA at the time of withdrawal of money from a separate bank account.
Our company will assist you in issuing this certificate.