Real Estate Regulatory Act|RERA Madhya Pradesh - RERA REGISTRATION

RERA in Madhya Pradesh came into force from 10th May 2017. Madhya Pradesh is the 2nd state in the country which implemented RERA after Maharashtra.
In Madhya Pradesh fees for Broker registration under RERA is Rs. 10,000 as an individual or sole proprietors and Rs. 50,000/- as a company. RERA in Madhya Pradesh is applicable to both ongoing and new launch project.

Definition of ongoing projects Penalties for non-compliance Payment schedule Norms for escrow withdrawal Clause for structural defects
In Line Diluted Not mentioned in the notified rules No clarity in the notified rules Not mentioned in the notified rules
Includes projects that are ongoing on the date of commencement of the Act, and for which the completion certificate has not been issued. Compounding of offense clause included avoiding imprisonment; 10% of project cost as a penalty.