RERA Registrations

Rera

Promoter Registration


  • RERA makes it mandatory for all commercial and residential real estate projects where the land is over 500 square meters or 8 apartments will have to register with regulator before launching a project. Every promoter shall make an application to the authority for registration of real estate project. Projects that are ongoing on the date of commencement of this act and for which completion certificate have not been issued have to get registered with RERA. If real estate project fails to register a property, it will attract penalty.



  • Agent Registration


    Why Required ?

  • Real estate agents are the heart of real estate industry . They are the mediators facilitating transactions between builder and buyer . With RERA,requires, all brokers to mandatorily get registered with the concerned state-level regulatory authorities. Real estate agents will be given a registration number by the authority which will be valid for 5 years and will be quoted in every transaction facilitated by him.
  • Real estate agents will also be penalized if they will falsely represent any information regarding project to buyers. Penalty will extend up to Rs 10,000 per day and maximum 5% of total project cost. Real estate agent is also required to keep books of accounts of the projects they are indulged in and are answerable for them.


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