The real estate sector in India was unregulated with regard to customer protection up until the formation of RERA. RERA has been established in several states of India and is expected to cause a boom in the real estate industry going forward. This act intends to safeguard investors from fraud, delay in projects, etc.
Rajeev Gandhi Complex
Near Tehsil, Dispensary Road,
Dehradun – Uttarakhand, 248001
Phone number: 0135 – 2719500
|Projects Details||Registration fee|
|Project registration fee for group housing projects||Rs.10 per square meter capped at a maximum fee of Rs.5 lakh|
|Project registration fee for mixed development projects||Rs.15 per square meter capped at a maximum fee of Rs.7 lakh|
|Project registration fee for commercial projects||Rs.20 per square meter capped at a maximum fee of Rs.10 lakh|
|Project registration fee for plotted development projects||Rs.5 per square meter capped at a maximum fee of Rs.2 lakh|
Any person that builds or develops a plot or building or apartment with the intention to sell it are called promoters.
An occupancy certificate is a certificate that is provided after the building is deemed as habitable. This is provided after the provision of water, electricity, etc. A completion certificate, on the other hand, is provided after the completion of the project and it states that it has been completed as per the plan sanctioned at the time of registration.
All projects including ongoing an incomplete projects are covered under the RERA act.
A promoter can begin advertising a project for sale after he/she has registered with RERA.
As per the act, RERA should register the project within 30 days of receiving the application.
As per the act, a promoter should have his account audited within 6 months after the end of a financial year.
The promoter is liable to pay a fee of up to 5% of the projected cost of the development.
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