RERA Complaint Drafting

The compliance check and its filing are governed under the Real Estate (Regulation and Development) Act, 2016. The main objective of establishing or passing this law or act was to protect the interests of consumers in the real estate sector.

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RERA Compliances

 

For the registration of real estate projects, some of the compliances which need to be fulfilled and informed are:

  1. Section 4 of the RERA Act explains or provides for the application of Real Estate Projects. According to 4(2), documents such as details of his enterprise like name, address, photographs, the particulars of registration should be provided.
  2. A brief detail of the projects handled in the last 5 years with the current status i.e., completion, pending, etc. must be provided according to Section 4(2)(b) of the Act.
  3. The sanctioned plan, the layout plan, and the specifications of the plan for the project according to Section 4(2)(d) of the Act must be provided.
  4. The location details of the project.
  5. The names and addresses of the contractors, architects, engineers to be informed according to Section 4(2)(k) of the Act.
  6. The 70:30 ratio to be maintained, which means that the 70% of the money received from the allottees shall be deposited in a separate account to cover the cost of the project, in the proportion of the completion of the project according to Section 4(2)(l)(D) of the Act.
  7. The promoted should get his accounts audited within 6 months of every financial year by a chartered accountant
  8. RERA regulation mandates to publish the details along with a copy of agreements, approvals, etc. on the website for a general public purpose. 
  9. The promoter must be responsible for obtaining a lease certificate, completion certificate, and provide all the essential services in the project according to Section 11(4) of the Act.
  10. The online web page for updating of the work done on the project according to Section 4(3) of the Act.
  11. An association of all allottees must be made for proper communication.
  12. If any defect in the structure arises, then the promoter/developer shall be responsible for rectification within 30 days of intimidation of the defect without any additional charges.

 

Penalties for non-compliance of RERA Rules

 

  1. If any promotes contravenes the provision of Section 3, he/she shall be liable for 10% of the estimated cost of the project.
  2. If any promotes contravenes the provision of Section 4, he/she shall be liable for 5% of the estimated cost of the project.

 

How to apply

 

RERA Filing and Registration Process

 

Step 1: Complete the RERA form filling out details and submit the documents on the RERA portal

Step 2: Verification of the uploaded documents will take place after submission.

Step 3: The submitted documents and provided information shall be filled in.

Step 4: Once the registration process is complete, a license number will be issued accordingly.

 

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