Fee structure for RERA registration in Bihar !

Fee structure for RERA registration in Bihar !
  • Monday 9th October 2017
  • Author: Yash Verma

Highlights

  • Bihar had been one of the first states to notify the final RERA rules before the registration for the Real Estate Act started in the Country.

  • The state cabinet announced the final rules of Real Estate (Regulation and Development) Act on 27th April 2017.

  • According to the RERA Act, all the ongoing projects in the state and projects without the Completion Certificate had to register with RERA.

  • The Act also makes it mandatory for all the Real Estate Agents of the state to register themselves with RERA and only then, proceed further with their practices.

Bihar had been one of the first states to notify the final RERA rules before the registration of the Real Estate Act started in the Country. The state cabinet announced the final rules of Real Estate (Regulation and Development) Act on 27th April 2017.

According to the RERA Act, all the ongoing projects in the state and projects without the Completion Certificate had to register with RERA. Without being registered, the promoters are not allowed to advertise their project as it is now mandatory to display the RERA registration number and are liable to a legal action if found breaking the rules of the Act.

The Act also makes it mandatory for all the Real Estate Agents of the state to register themselves with RERA and only then, proceed further with their practices. From the start of the registration, they were restricted from dealing for any promoter unless obtaining the certificate from RERA.

The fee for registration of promoters in Bihar in accordance with the Act is:

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

  1. In case of group housing project – Rs 5 per square meter for projects where the area of land proposed to be developed does not exceed 1,000 square meters; or Rs 10 per square meter for projects where the area of land proposed to be developed exceeds 1,000 square meters, but shall not be more than Rs 5 lakhs.
  2. In case of mixed development (residential and commercial) project – Rs 10 per square meter for projects where the area of land proposed to be developed does not exceed 1,000 square meters; or Rs 15 per square meter for projects where the area of land proposed to be developed exceeds 1,000 square meters, but shall not be more than Rs 7 lakhs.
  3. In case of commercial projects – Rs 20 per square meter for projects where the area of land proposed to be developed does not exceed 1,000 square meters; or Rs 25 per square meter for projects, where the area of land proposed to be developed exceeds 1,000 square meters, but shall not be more than Rs 10 lakhs.
  4. In case of plotted development projects – Rs 5 per square meter, but shall not be more than Rs 2 lakhs.

 

The fee for registration of Real Estate Agents in Bihar is:

  1. In case of an Individual – Rs 10,000.
  2. In case of other than Individual – Rs 50,000.

 

However, after imposing such restrictions on the real estate sector in the state, Bihar cabinet themselves delayed the formation of a proper RERA Authority for registrations which proved to be a big problem for the developers in the state.

Recently, the website for RERA registration in Bihar was launched which will prove to be very helpful and convenient to the real estate sector of the state. The Bihar RERA Authority website has also provided a separate section for buyers to complain against fraudulent developers after paying a fee of Rs 1,000.

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