The Real Estate (Regulation and Development) Act, 2016 was brought into effect by Govt. of India on 01.05.2016. The Rajasthan Real Estate (Regulation and Development) Rules, 2017 were notified on 01.05.2017. Govt. of Rajasthan has constituted the Rajasthan Real Estate Regulatory Authority (Raj.RERA) on 06.03.2019.
What is Rajasthan Real Estate Regulatory Authority?
The Real Estate (Regulation and Development) Act 2016 (RERA) came into force on 2017. It is an enabling legislation which aims to protect home buyers and promote transparency in real estate sector. It was enacted by parliament to establish a regulatory authority for real estate sector for controlling and regulating developers and ensure timely completion of projects through effective enforcement of provisions of development control regulations. The rules and regulations under RERA mandate that all new projects (proposed or under construction) across India must register themselves with respective state government authorities before they can sell any property. The registration process varies from state to state based on each states own implementation of RERA rules.
How can I register with RRERA?
If you plan to start a real estate business or expand your existing one, registering with RRERA is an important step. Whether you’re starting out as a first-time seller, expanding your portfolio by buying more homes, or looking to earn income through rental properties, it’s good to know that your activities are compliant with local laws and regulations. Keep in mind that some activities require registration with state authorities as well. For example, before you can register under RRERA , you need to receive approval from municipal authorities for certain projects. Besides, planning permission may be required depending on which area of Rajasthan you’re interested in working with. Keep reading to learn how to register with RRERA .
List of documents required for RRERA registration
The documents required for Rajasthan RERA Registration for Projects are listed as follows:
For Individual: Photograph, PAN and Aadhaar of the applicant
For Company: Company registration certificate, CIN, PAN TAN, brief detail of enterprise, Photograph and Photographs of all Partners and Directors.
For Proprietorship Firm, Societies and Partnership Firm: Company Registration Certificate, PAN, CIN/TAN and Photographs of all Partners and Directors.
For Competent Authority: PAN, CIN, TAN and Photographs of Housing Commissioner, CEO and VC.
For Local Authority: PAN, TAN and Photograph of M.C./E.O
Brief detail of the project
Audited Balance Sheet
ITR of the last three years.
Extract of Khatauni
Allotment Letter issued by Competent Authority Once the Projects/Agents
What are the penalties under RERA?
The penalties under RERA are strict. For instance, if you do not have a valid registration, then you can be charged with imprisonment up to five years. You can also be charged with a fine of Rs 5 lakhs along with an additional penalty of Rs 10,000 per day till your registration is complete. However, in cases where government officials are involved in delaying registrations or are found guilty of providing false information to owners, they can face stricter punishment including imprisonment up to 10 years along with fines ranging from Rs 50 lakhs to one crore.