The nation’s capital, Delhi, has already established a Real Estate Regulatory Authority (RERA) body to govern and regulate the real estate sector in the city. This was done as per the Real Estate (Regulation and Development) Act, 2016, which seeks to introduce transparency, accountability and professionalism in the industry.
The Act is also meant to reduce the number of frauds and delays in the real estate sector that have plagued this industry for long. The formation of Delhi RERA ensures that all the project related information is shared between the builders and the buyers, in addition to boosting the confidence of investors. All real estate agents and developers are required to register with Delhi RERA. This involves submitting all the important information and appropriate documents related to the real estate project and updating them on a regular basis.
Prospective property buyers in Delhi can now visit the RERA Delhi portal and find all the information about the property they want to purchase. With all the information present on the website, the chances of delivering misinformation and deceiving the buyers are next to nil.
RERA Delhi also ensures that disputes and grievances are resolved in an efficient manner without taking a lot of time. Anyone with an issue can approach the RERA body and file a complaint either with the Authority or the Adjudicating Officer. In case a person is dissatisfied with the verdict delivered by RERA, he/she can approach the Appellate Tribunal and have them hear the appeal. However, keep in mind that an application fee will be charged for filing a complaint with RERA Delhi.
Real estate developers need to submit all the project related documents, the list of which can be found in the Delhi Real Estate (Regulation and Development) Act, 2016, prepared and published by the Ministry of Urban Development. Some of these documents are the title deed, layout plan, development plans, sanctioned plans, encumbrance details of the land, financial papers like income tax returns and cash flow statement, PAN card and Aadhaar number, et cetera.
Along with these documents, the promoter also needs to submit the duly filled forms and pay a registration fee. This fee depends on the type of the real estate project (residential or commercial) and the area. Usually, a fixed sum will be charged per square metre.
Similarly, real estate agents in Delhi need to register with Delhi RERA. The procedure to do so is fairly simple - visit the official Delhi RERA site and fill the required forms. Additionally, documents like PAN card, Aadhaar card, enterprise information, address proof of the place of business, tax returns, et cetera have to be attached with the application form. Needless to mention, an application fee has to be paid by the agent.
For any queries or additional information, you can visit the Delhi RERA website at http://dda.org.in/rera/ListofRealEstae_Projects.aspx
Before proceeding with any application, you should read the RERA Rules published on the portal carefully, as this will give you a good idea about the documents required and procedure that is to be followed. You can also browse through the ‘FAQ’ section on the site in case you have any additional queries.
You can visit the RERA Delhi office at the following address:
14th Floor, Vikas Minar, ITO,
New Delhi, 110002
Email - email@example.com
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