The enactment of RERA Regulations in India has sent a wake-up call to the Real estate industry to get register and comply with prescribed rules. The “Real Estate (Regulatory & Development) Act, 2016 has commenced from 01/05/2017. Now real estate project and real estate agent need to comply RERA Act and State Rules.
The State of Haryana has not prescribed the final set of RERA Rules, however, it has started accepting the application for RERA registration on provisional basis. This RERA Act and State Rules can be Amend in time of future.
It establishes the State Real Estate Regulatory Authority for that particular state as the government body to be approached for redressal of grievances against any builder.
Being one of the hubs in real estate projects, Faridabad deserve a separate analysis of RERA Registration in Faridabad, which is as under-
Who is required to get RERA Registration?
Every Promoter:
- The contractor for construction or demolition of building, plot etc.
- Developers of land
- Any development authority or public body who construct or sold building, plot
- State-level or primary co-operative housing societies
- Holder of power of attorney for sale from the land owner
On-going project as on 01/07/2017 where completion certificate has not been received.
Every real estate agent who assist in sell/purchase of any RERA registered real estate project.
RERA Fees and procedures
For Real Estate Project – The fees for RERA registration for project in Haryana shall depend on location and size of the project of the project.
Rates of registration fee for Promoter (Rs. per sq.meter)
ZONE
| Sr. No. | Category of Uses | Hyper | High potential-I | High Potential-II | Medium potential | Low Potential |
| 1 |
Residential a) Plotted b) Group Housing |
20.00 30.00 |
15.00 25.00 |
10.00 20.00 |
7.50 15.00 |
5.00 10.00 |
| 2 | Commercial | 40.00 | 35.00 | 30.00 | 25.00 | 20.00 |
| 3 |
Industrial a) Plotted b) Cyber city/park |
20.00 30.00 |
15.00 25.00 |
10.00 20.00 |
7.50 15.00 |
5.00 10.00 |
| 4. | Mixed Land Use | 30.00 | 25.00 | 20.00 | 15.00 | 10.00 |
For Real Estate Agent – The RERA registration fees for Real estate agent in Faridabad shall be Rs. 25,000/- for individual and Rs. 2,50,000/- for person other than individual.
The Time limit for RERA Registration is as under
-
- For On-going project – within 3 months i.e 31/07/2017
- For New project– before any advertisement or sell or booking
- For real estate Agent– before any transaction
Author – Team, RERA Consulting – rera@centrik.in
For, Centrik Business Solutions Pvt Ltd.
Note – Please note that the above article is part of our continuous research on the related matters. It is based on our interpretation of related regulations which may differ person to person. Readers are expected to take expert opinion before relying on above.
join For Updates
After checking out a number of the blog posts on your site, I
really like your technique of blogging. I saved as a favorite it to my
bookmark webpage list and will be checking back soon. Please visit
my website tooo and let me know your opinion.
Why the on going projects of Builders of Neharpar Faridabad like cheat builders SRS Group is forced to come under RERA.
After receiving 95% payments for flats which are nearly completion are stopped construction and buyers are suffering unnecessarily. SRS ROYAL HILLS PHASE2 Sec 87 FARIDABAD is the project where work stopped since Mid 2016
It would be good case for RERA, where you can expect a good judgement. For more information, please mail us at rera@centrik.in