Overview

The Real Estate (Regulations and Development) Act, 2016 has prescribed for every State/UT to prepare details rules regarding registration and implementation of RERA.

The Ministry of Urban Development vide its notification dated 24^th Nov, 2016 has notified the ‘National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016’ which prescribe for registration and its documentation.

As per Rule 3 of said rules, an application to the Authority for registration of the real estate project shall be made in writing in Form ‘A, along with declaration, as prescribed in Rules, in triplicate.

Fees:

The promoter shall pay a registration fee at the time of application for registration by way of a demand draft or a banker’s cheque drawn on any scheduled bank or through online payment mode, as the case may be, for a sum calculated at the rate of,-

• For group housing project
  1. 5 per square meter for projects where the area of land proposed to be developed does not exceed 1000 square meters; or
  2. 10 per square meter for projects where the area of land proposed to be developed exceeds 1000 square meters, with maximum cap of Rs. 5 Lakhs

• For mixed development (residential and commercial) project
  1. 10 per square meter for projects where the area of land proposed to be developed does not exceed 1000 square meters; or
  2. 15 per square meter for projects where the area of land proposed to be developed exceeds 1000 square meters, with maximum cap Rs. 7 Lacs;

• For commercial projects
  1. 20 per square meter for projects where the area of land proposed to be developed does not exceed 1000 square meters; or
  2. 25 per square meter for projects where the area of land proposed to be developed exceeds 1000 square meters, with maximum Cap of Rs. 10 Lacs.

• For plotted development projects,- Rs. 5 per square meter, but shall not be more than Rs. 2 Lacs

Documents Required for RERA Registration  

• Authenticated copy of the PAN card of the promoter;
• Annual report including audited profit and loss account, balance sheet, cash flow statement, directors report and the auditor’s report of the promoter for the immediately preceding three financial years; and where annual report is not available, the audited profit and loss account, balance sheet, cash flow statement and the auditor’s report of the promoter for the immediately preceding three financial years;
• The number of open parking areas and the number of covered parking areas available in the real estate project;
• Authenticated copy of the legal title deed reflecting the title of the promoter to the land on which development of project is proposed along with legally valid documents for chain of title with authentication of such title;
• Details of encumbrances on the land on which development of project is proposed including details of any rights, title, interest, dues, litigation and name of party in or over such land or non- encumbrance certificate through an advocate having experience of atleast 10 years from the revenue authority not below the rank of tehsildar, as the case may be;
• Where the promoter is not the owner of the land on which development of project is proposed details of the consent of the owner of the land along with a copy of the collaboration agreement, development agreement, joint development agreement or any other agreement, as the case may be, entered into between the promoter and such owner and copies of title and other documents reflecting the title of such owner on the land on which project is proposed to be developed;
• Name, photograph, contact details and address of the promoter if it is an individual and the name, photograph, contact details and address of the chairman, partners, directors, as the case may be, and the authorized person in case of other entities

Validity of Registration

The registration for real estate project shall valid until end of the project as declared by the promoter while registration of the same. It may be extended by following the due process.

Note – the above article is based on personal interpretation of related laws which may differ person to person. For any clarification, please write us at info@centrik.in

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