A Simple Guide to RERA Delhi

A Simple Guide to RERA Delhi
  • General
  • Tuesday 15th October 2019
  • Author: Riya Kapoor

Highlights

  • The Real Estate Regulation and Development (RERA) Act, 2016 is appraised as one of the prominent legislation passed by the Government of India.

  • The real estate agent shall pay fees of Rs 10,000 in case of individual registration and Rs 50,000 in case of other than individual registration.

The Real Estate Regulation and Development (RERA) Act, 2016 is appraised as one of the prominent legislation passed by the Government of India. Its intention is to reform and refine the real estate sector, encouraging more transparency, citizen centricity, accountability and financial discipline. This is in consonance with the vast and booming economy of India as in coming years many people would be investing in the real estate sector.

Project Registration Fees in Delhi

Group Housing Project

Rs 5 per square meter - If the area of land proposed to be developed do not exceed 1000 square meters.

Rs 10 per square meter - (capped up to Rs. 5 lakhs) - For projects where the area of land proposed to be developed exceeds 1000 square meters.

In the case of mixed development (residential and commercial) project

Rs 10 per square meter - For projects where the area of land proposed to be developed do not exceed 1000 meters.

Rs 15 per square meter (capped up to Rs. 7 lakhs) - For projects where the area of land proposed to be developed exceeds 1000 square meters

In the case of commercial projects

Rs 20 per square meter - For projects where the area of land proposed to be developed does not exceed 1000 square meters

Rs 25 per square meter (capped up to Rs. 10 lakhs) - For projects where the area of land proposed to be developed exceeds one thousand square meters.

In case of plotted development projects

Rs 5 per square meter of total plot area with maximum fees of Rs 200,000.

RERA for Real Estate Agents

Under this Act, the Real Estate Agent shall furnish the following information and documents for registration along with the required forms with the regulatory authority:

  1. Brief details of his enterprise including its name, registered address, type of enterprise, proprietorship, societies, co-operative society, partnership, companies etc.;
  2. Particulars of registration including the bye-laws, memorandum of association, articles of association etc. as the case may be;
  3. Name, address, contact details and photograph of the real estate agent if it is an individual and the photograph of the partners, directors etc. in case of other entities
  4. Self-attested copy of the PAN card;
  5. Self-attested copy of the address proof of the place of business.

The real estate agent shall pay fees of Rs 10,000 in case of individual registration and Rs 50,000 in case of other than individual registration. The registration granted would be valid for 5 years.

What is there for buyers?

Any aggrieved person may file a complaint with the Regulatory Authority for any violation of the Act or the rules and regulations. Aggrieved Consumer would file the complaint with the Adjudicating Officer. He would have to provide a fee of INR 1,000 .The consumers can file their complaint with the Regulatory Authority or Adjudicating Officer.

Objectives of RERA Delhi

The major objective of the Authority is to regulate and promote the development of real estate sector in NCT of Delhi so as to bring transparency in the real estate development and business by insisting on mandatory disclosure of project details by the Builders/ promoters to the property buyers. It also aims to protect the interests of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals on the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto. Without registering the project with the Authority, no advertisements shall be issued and no advance or deposits shall be accepted without executing an agreement with buyers. Registration of all real estate agents with the Authority is mandatory under the Act.

Contact Details of RERA Delhi

Telephone :  011-23341404 (Timings:- 9:30 AM - 6:00 PM)

Email ID: [email protected]

Office Address :

2nd Floor, Shivaji Stadium Annexe Building, Shaheed Bhagat Singh Marg, New Delhi - 110001

 

Have Questions on RERA ? Have free discussion on email.