All you need to know about RERA in Uttarakhand

The government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have come into force with effect from May 1, 2017. Owing to the new guidelines, every state is liable to establish Regulatory Authority (RERA) which will supervise all the activity of Real Estate sector. To comply with these rules, the Uttarakhand Real Estate (Regulation and Development) rules were notified on 28 April 2017 and registration has been started on 1 May 2017 through offline mode.

                                                     PROJECT

Mandatory disclosure in case of the project:

In case of the project, some mandatory disclosures by promoters of the ongoing project are mentioned here. The original sanctioned plan, layout plan, the total amount of money collected from the allottees, the status of the project including the original time period disclosed to the allottee for completion of the project at the time of sale. It is mandatory to deposit 70% of the amounts realized for the real estate project from the allottees in a separate account in a scheduled bank within the period of three months to cover the cost of construction to be used for that purpose.

Registration fees for Projects:

(i) For “Group Housing Project” Promoter shall pay 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. 10 per square meter for projects where the area of land proposed to be developed exceeds Rs. 1,000 square meters; but shall not be more than Rs. 5,00,000.

(ii) For “Mixed Development” (residential, commercial and industrial and the like project) Promoter shall pay Rs. 15 per square meter for projects where the area of land proposed to be developed does not exceed 1,000 square meter 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. 7,00,000.

(iii) For “Commercial Project” Promoter shall pay 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 than10,00,000.

(iv) For “Plotted Development of Residential, Commercial, Industrial and the like uses Projects” Promoter shall pay Rs. 5 per square meter, but shall not be more than Rs. 2,00,000.

Documents required for RERA registration for Projects:

(i) Authenticated copy of the PAN Card of the promoter.

 

(ii) Audited balance sheet of the promoter for the preceding financial year and income tax returns of the promoter for immediately three preceding financial years.

 

(iii) The number of open parking areas available in the said real estate project.

 

(iv) Authenticated copy of the legal title deed of the promoter.

 

(v) The details of encumbrances on the land.

 

(vi) Where the promoter is not the owner of the land on which development of the project is proposed, details of the consent of the owner of the land along with a copy of the collaboration agreement.

 

(vii) Name, photograph, contact details and address of the promoter if it is an individual and the name, photograph, contact details and address of the Chairman, Partners, Directors, as the case may be, and the authorized person in case of other entities.

 

                                                                 AGENT

Obligations of an agent:

In case of the real estate agent, he shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfill their respective obligations at the time of booking and sale of any plot, apartment or building. He shall also maintain and preserve books of account, records and documents in accordance with the provisions of the Income Tax Act, 1961.

 

Registration fees for Agents:

In case of individual Real Estate agents of Uttarakhand shall pay Rs. 25,000 as a registration fee and in case of other than individual they shall pay Rs. 2,50,000. The application for registration will take place through online mode only.

Registration number validation:

In case of Uttarakhand, once an agent gets the certificate number, it will be valid for 5 years.

Registration Renewal:

An application which is made by the real estate agent in Form-J in triplicate shall not be less than three months prior to the expiry of the registration granted. The renewal fee in case of the individual is Rs. 5,000 and Rs. 50,000 in case of other than the individual.

Documents required for RERA registration of Agent:

1. Passport size photograph of agents/ directors /partners

2. Copy of Aadhar card of agents /directors/partners 

3. PAN card of real estate agent in case of individual or PAN card of Firm

4. Authenticated copy of the address proof of the place of business

5. Particulars of the Registration including the bye-laws, memorandum of association, articles of association etc.

6. Income tax returns filed under the provisions of the Income Tax Act, 1961 for three financial years preceding the application or in case the applicant was exempted from filing returns.

7. In case of Partnership firm, partnership deed is mandatory to attach to above-mentioned documents.

Jurisdiction:

RERA registration number will be valid for the entire Uttarakhand state.

tags  sanctioned plan  registration  Uttarakhand