RERA fee structure for registrations in Jharkhand

RERA fee structure for registrations in Jharkhand
  • Friday 10th November 2017
  • Author: Yash Verma

Highlights

  • The final rules of the Real Estate (Regulation and Development) Act were notified on 18th May 2017 by the Urban Development and Housing Department of Jharkhand.

  • The official website for the Authority has been launched this very week, which will enable all the real estate developers and agents to register themselves with RERA conveniently.

  • The Chairman of the Authority has not yet been decided.

The Real Estate Regulatory Authority of Jharkhand has recently launched the website for registrations in the state. The final rules of the Real Estate (Regulation and Development) Act were notified on 18th May 2017 by the Urban Development and Housing Department of Jharkhand, 18 days after the registrations started in the Country. Even after the notification of the final rules, the Government of Jharkhand could not form the proper RERA Authority within time, which resulted in missing the deadline of 31st July 2017 without even starting the registrations.

However things are now starting to take shape in the state as the official website for the Authority has been launched this very week, which will enable all the real estate developers and agents to register themselves with RERA conveniently. Also Read: How RERA will satisfy end user

Here is the complete fee structure for Promoters and Agents for the state: 

 

Fee for promoters

The promoter shall pay a registration fee at the time of application for registration by way of 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 residential 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 lacs.
  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 for projects where the area of land proposed to be developed exceeds 1,000 square meters, but shall not be more than Rs 7 Lacs.
  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 lacs.
  4. In case of plotted development project – Rs 5 per square meter, but shall not be more than Rs 2 lacs.

 

Fee for Real Estate Agents

The Real Estate Agent 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, for a sum of :

  1. In case of an Individual – Rs 25,000
  2. In case of other than Individual – Rs 2,50,000

The registration granted for Real Estate Agents by the Real Estate Regulatory Authority of Jharkhand will be valid for a period of 10 years. The renewal of the registration certificate of Agents will cost Rs 5,000 and Rs 50,000 in case of individual and other than an individual, respectively.

The renewed certificate will be valid for a period of 5 years. The complaint process in the state has also started and homebuyers can file complaints with the Authority on the website itself. These complaints are bound to be disposed of within 60 days by the Authority.

The Chairman of the Authority has not yet been decided, however, it is being headed by the Principal Secretary of the Urban Development Department of Jharkhand, Arun Kumar Singh, for the time being. 

 

TAGS: RERA Report Card, How absence of RERA is affecting Real Estate, Rera in Tamil Nadu, Rera in Bihar

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