RERA fee structure for registrations in Bihar

The Rules of the Real Estate (Regulations and Development) Act were notified the rules on 28^th April 2017. After the notification of final rules, the Government of Bihar could not find the proper way to implement RERA in Bihar. The Real Estate Regulatory of Bihar has recently launched the website for registration in the state.

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

Here is the complete information about the RERA fee structure for Promoters and Agents.

Fee for Promoters

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

The registration granted under the Real Estate Authority of Bihar will be valid for a period of 5 years. The renewal of registration certificate Agent cost will Rs.5 000 for individual and Rs.25,000 for other than individual.

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.