Rera Delhi And All Its Technicalities and Processes

RERA, or the Real Estate Regulatory Authority, was established on May 1, 2016, with the goal of protecting home buyers while promoting real estate investment. This was considered imperative because the prevailing view in the real estate industry was that most transactions were skewed, favouring the project's developers more frequently than not. The main goal of this legislation was to make real estate more equal by increasing accountability and transparency throughout the process. 26 states follow the rules of the RERA, and RERA DELHI has been following the new rules.

The National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016, was notified on November 24, 2016, under section 84 and in accordance with sub-clause (iii) of clause (g) of section 2 of the Real Estate (Regulation and Development) Act, 2016. The Rule lays out the method for organizing the real estate registration authority, registering real estate projects and agents, publishing information about projects and promoters, imposing penalties, and appealing to the Appellate Tribunal, among other things. This article looks deeply into RERA Delhi and how the Delhi RERA website works.

Administration of Real Estate Regulatory Authority, Delhi 

The President signed the Real Estate Regulation and Development Act on March 25, 2016, and it went into effect shortly after. A notification No.221 dated 14th November 2018 was published under Section 20 of the Real Estate (Regulation and Development) Act 2016 to establish the RERA Act Delhi for the national capital. In the exercise of powers conferred on the Hon'ble Lieutenant Governor of Delhi as the 'Appropriate Government' (the Authority). As a result, Mr Anil Baijal, the Lieutenant Governor of Delhi, named retired IAS officer Vijay S Madan as the first real estate regulator under RERA office Delhi.

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The Rera Delhi Is Made Up of the Following Administrative Members:

• Member - Shri G. P. Srivastava
• Member - Shri Ramesh Chandra
• Chairperson - Vijay S. Madan
• RERA Delhi office address - 2nd Floor, Shivaji Stadium Annexe Building, Shaheed Bhagat Singh Marg, New Delhi – 110001
• RERA Delhi official website - https://rera.delhi.gov.in

 How Are Home Buyers Impacted by Rera Delhi?

The following are some of the most important requirements:

• Notifying allottees of any minor additions or changes.
• Any other addition or change requires the approval of two-thirds of the allottees.
• There will be no launch or advertising before Delhi RERA registration.
• 2/3 of the allottees must agree to transfer majority rights to a third party.
• Sharing project plans, layouts, government approvals, land title status, and subcontractors' information.
• Increased confidence in project completion and delivery to customers on schedule.
• An increase in building quality due to a five-year faulty liability period.
• RWA formation must occur within a certain time frame, or three months after the majority of units have been sold.

Delhi RERA – Scope

The National Capital Territory's real estate market is governed and regulated by the RERA Delhi. This is done in compliance with the RERA of 2016, which aims to improve the real estate industry's professionalism, transparency, and accountability. People intending to buy property in Delhi should go to the Delhi RERA website and look up all of the relevant info about the unit they are interested in. The builder's ability to deceive buyers is reduced due to the abundance of information available on the website.

Rera Registration Process for Rera Approved Projects in Delhi

• Documents required: Copy of PAN cards, yearly reports, audited balance sheets, number of covered and open parking spaces, detail of encumbrances on the land, the legal title deed of the land, consent of the landowner, collaboration agreement, KYC of the promoters.
• The promoter must pay the Delhi RERA registration fees as specified in the contract.
• According to RERA Delhi, the promoter must submit a declaration stating that at the time of allotment of any flat, the promoter will not discriminate against any allottee.
• For ongoing Delhi RERA registered projects, the promoter must also disclose the original sanctioned plan, layout plan, and specifications, as well as any subsequent modifications made, if any, including the existing sanctioned plan, layout plan, and specifications, the total amount of money collected from allottees, the total money used for project development, and the total balance money lying with the promoters, the project's status, including the original time and the current time period, and the total balance money lying with the promoters.
• The size of the apartment on the carpet area, as well as the area of the land sold to allottees according to the layout design, must be specified in the plotted development as per Delhi RERA rules.

• As stated by RERA Delhi (online portal), the promoter must deposit 70% of the revenue generated from allottees, which has not been used for construction of the project or the land cost for the projects, in a separate bank account for existing projects that have not acquired a completion certificate.
• The Authority has the option of approving or rejecting the project's registration. The Authority issues a registration certificate in form 'C' and a rejection certificate in form 'D.'
• A registration extension may be requested within three months of the registration's expiration date from the Delhi real estate regulatory authority.
• The real estate agent must register with the Delhi real estate regulatory authority and apply for registration as well as pay the applicable registration The real estate agent must register with the Authority and apply for registration as well as pay the applicable registration cost.
• With the registration application, the agent must provide all needed information, including the KYC documents.
• The RERA Delhi authority will give a registration certificate to the agency after registration.
• The real estate agent must keep and maintain the books of accounts, records, and documents in accordance with the provisions of the Income Tax Act of 1961 (43 of 1961), as modified from time to time.

Documents Required for RERA Registration

The Real Estate Regulation and Development Act, 2016 (RERA) is an Indian legislation that regulates and promotes transparency in the real estate sector. To register under RERA, real estate agents, promoters, and buyers must provide specific documents. Here are some of the documents required for RERA registration:

• PAN card of the promoter or real estate agent
• Certificate of incorporation of the promoter or real estate agent
• Address proof of the promoter or real estate agent
• Details of ongoing projects and completed projects in the past five years
• Details of the real estate agent or promoter's financial status
• Copy of the title deed of the land on which the project is being constructed
• Sanction plan, layout plan, and specifications of the project
• Details of the project's architect, contractor, and structural engineer
• Details of approvals from local authorities

Real estate agents, promoters, and buyers must ensure that all the documents required for RERA registration are in order to avoid any legal complications. At NoBroker, we help our clients through the RERA registration process, ensuring that they comply with all the necessary requirements.

How to Register (For Real Estate Agents)

Real estate agents play a crucial role in the real estate sector. RERA registration is mandatory for all real estate agents in India. Here are the steps to follow for RERA registration online:

• Visit the official RERA website of the state where the real estate agent is operating.
• Click on the 'Register as Real Estate Agent' option and fill in the required details.
• Upload all the documents required for RERA registration.
• Pay the registration fee online.
• Once the registration is complete, the real estate agent will receive a registration number

How to Register (For Promoters)

Promoters, or real estate developers, play a significant role in the real estate sector. RERA registration is mandatory for all real estate developers in India. Here are the steps to follow for RERA registration online:

• Visit the official RERA website of the state where the project is located.
• Click on the 'Register as Promoter' option and fill in the required details.
• Upload all the documents required for RERA registration.
• Pay the registration fee online.
• Once the registration is complete, the promoter will receive a registration number.

How to Register (For Buyers)

Buyers in India can check the RERA registration details of the developer and the project before making a purchase. Here are the steps to follow to check the RERA approval status:

• Visit the official RERA website of the state where the project is located.
• Click on the 'Projects' option and search for the project using the project name, developer name, or registration number.
• The search results will display the RERA registration details of the project, including the developer's name, registration number, and project details.

At NoBroker, we provide a list of projects registered under RERA on our website, making it easier for buyers to find RERA-approved projects.

Delhi Rera Registration Fees

Where to Check RERA-Approved Projects in Delhi NCR?

The Delhi National Capital Region (NCR) is one of the most significant real estate markets in India. Here are some websites where buyers can check for RERA-approved projects in Delhi NCR:

• The official RERA website of the state where the project is located. Buyers can search for the project using the project name, developer name, or registration number.

• NoBroker provides a list of RERA-approved projects in Delhi NCR on our website. Buyers can easily find the projects they are interested in and connect with the developers directly.

With our extensive database of properties and developers, NoBroker makes it easy for buyers to find RERA-approved projects in Delhi NCR. We also provide assistance with legal and financial matters related to real estate purchases.

How to File RERA Complaint and How to Track It?

RERA has provisions to protect the interests of homebuyers and to ensure that developers comply with the rules and regulations. If a homebuyer has any grievances against the developer, they can file a complaint with the RERA authority. Here are the steps to file a RERA complaint and track its status:

1. Visit the official RERA website of the state where the project is located.
2. Click on the 'Complaint Registration' option and fill in the required details.
3. Upload all the documents related to the complaint.
4. Pay the registration fee online.
5. The RERA authority will verify the complaint and take appropriate action.

Homebuyers can track the RERA complaint status or RERA case status online by visiting the RERA website and entering their complaint number.

RERA Delhi oversees the registration of real estate projects and agents, as well as creates greater transparency in the real estate sector. The major purpose of the RERA is to resolve complaints filed by developers, agents, or buyers. It's also in charge of putting an end to unethical or immoral real estate operations. Looking to invest in Delhi? Check out NoBroker to find the house of your dreams.

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