Learn about the RERA registration fees in all Indian states and UTs in this blog. The article centres on all the real estate agents' provisions to get certified by the Indian Central Government.
In 2016, RERA was implemented in India. The idea was to ensure accountability and clarity in the real estate business. RERA constitutes a regulatory council that looks after the interests of property buyers. Parliament of India enforced its workflow from May 2017 after its initial drafting launched in 2016. The RERA Act specifies that any project exceeding 500 sq. mt. must be registered and approved by them. The law is applicable for both commercials as well as household properties.
Initially, all over India, fourteen states and UTs, including Uttar Pradesh, Madhya Pradesh, Gujarat, Andhra Pradesh, Odisha, Bihar, and Maharashtra, met mutual terms with RERA, while other states were soon going to declare their verdict. RERA will make sure buyers no longer suffer from the prolonged delay of projects as builders will have to follow guidelines governing the completion of construction. Also, the regulatory body will protect the property purchasers from fraud.
Any developer must seek approvals from a different state and Central agencies before inaugurating a specific venture and publish every minute detail on the official webpage set up by that particular state’s RERA council. The RERA allows a unique registration number for each real estate agent upon his submission of necessary documents along with the RERA registration fees. Each time they list any constructed project for sale, this has to be declared. If the agent tries to mislead or fraud any buyer, then the RERA regulatory body has every right to impose sanctions and take legal steps against him.
RERA Registration Fees in various Indian states
RERA controls the activities of real estate agents who work in close contact with property dealers and brokers. These agents act as the liaison of buyers. Many of them have fallen prey to false commitments of brokers that have resulted from the uncontrolled functioning of the active construction. The Government of India devised the real estate regulating law, commonly abbreviated as the RERA, in 2016 to dislodge such further happenings. The real estate agent must pay a RERA registration fee that varies from one state to another to avail of this service.
Here we mention the fees for RERA application in all Indian states:
In Uttar Pradesh, fees for individual or personal application are र 25,000 while that for other than the individual application is र 2 50,000. The validity of one-time RERA registration is five years at a stretch. The renewal fee is र 5,000 for an individual application. The renewal charge for applicants (other than individual candidates) is र 50,000.
In the list given below we have mentioned the RERA Registration Fees in all other Indian states and UTs:
| State/Union territory | RERA Registration Fees (Individual application) | RERA Registration Fees (Applicants other than one person) |
| Haryana | र 25000 | र 250000 |
| Delhi (NCT) | र 10000 | र 50000 |
| Andhra Pradesh | र 10000 | र 50000 |
| Maharashtra | र 10590 | र 100590 |
| Arunachal Pradesh | Discussion is in progress | Discussion is in progress |
| Bihar | र 10000 | र 50000 |
| Assam | र 10000 | र 50000 |
| Gujarat | र 10000 | र 50000 |
| Goa | र 10000 | र 100000 |
| Chhattisgarh | र 10000 | र 50000 |
| Jharkhand | र 25000 | र 250000 |
| Himachal Pradesh | र 5000 | र 250000 |
| Karnataka | र 25000 | र 200000 |
| Madhya Pradesh | र 10000 | र 50000 |
| Kerala | र 25000 | र 200000 |
| Odisha | र 10000 | Not known |
| Manipur | To be discussed | To be discussed |
| Mizoram | To be discussed | To be discussed |
| Meghalaya | To be discussed | To be discussed |
| Nagaland | To be discussed | To be discussed |
| Rajasthan | र 10000 | र 50000 |
| Punjab | र 5000 | र 25000 |
| Tripura | To be discussed | To be discussed |
| Telengana | र 10000 | र 25000 |
| Sikkim | To be discussed | To be discussed |
| Tamil Nadu | र 25000 | र 50000 |
| Uttarakhand | र 25000 | र 250000 |
| West Bengal | र 25000 | र 250000 |
| Chandigarh | र 10000 | र 50000 |
| Daman and Diu | र 10000 | र 50000 |
| Andaman and Nicobar Islands | र 10000 | र 50000 |
| Dadra and Nagar Haveli | र 10000 | र 50000 |
| Puducherry | र 10000 | र 50000 |
| Lakshadweep | र 10000 | र 50000 |
RERA Registration Fees for promoters in India
The registration fees for promoters vary depending on the project type. For residential projects that are limited to 1000 sq. m. charges have been set as र 500/ m2. If this measurement is more than 1000 sq. m, the valuation is र 500 for every 100 square meters. On the other hand, the commercial project registration fee is र 20/ m2 (if the project span is less than 1000sq. m.). If it exceeds the 1000 sq. m. limit then the valuation is र 1000 for every 100 square meters.
The Real Estate (Regulation and Development) Act, commonly known as RERA, has brought significant changes to the real estate sector, ensuring transparency and protecting the interests of homebuyers. For brokers operating in the real estate domain, understanding the RERA registration process is pivotal. This article sheds light on the RERA registration requirements, the necessary documents, and the validity of registration.
RERA Registration Requirement Under the Act
RERA mandates that real estate brokers register under the Act to streamline practices and enhance accountability. Brokers involved in facilitating property transactions, either as an intermediary or negotiator, fall under the purview of RERA. The registration process necessitates compliance with the specified guidelines to operate legally.
Brokers must fulfill the following key requirements for RERA registration:
Eligibility Criteria: Brokers need to ensure they meet the eligibility criteria outlined by the respective state RERA authorities. This may include educational qualifications, professional experience, and adherence to ethical standards.
Application Submission: Brokers must submit a detailed application form, providing essential information such as business details, contact information, and any other particulars required by the RERA authorities.
Registration Fee: A prescribed registration fee, as determined by the state RERA, must be paid along with the application. The fee structure may vary across states.
Code of Conduct: Brokers are required to adhere to the specified code of conduct outlined in RERA. This includes maintaining transparency, disclosing accurate information, and safeguarding the interests of homebuyers.
Documents Required for RERA Registration
The RERA registration process necessitates the submission of various documents to establish the credibility and legality of the real estate broker. Common documents required include:
Proof of Identity: Valid government-issued identification documents of the broker, such as Aadhar card, PAN card, or passport.
Proof of Address: Documents verifying the broker’s place of residence, such as utility bills, rental agreements, or property documents.
Business Address Proof: Valid documents confirming the broker’s office address, such as utility bills or lease agreements.
Financial Statements: Submission of audited financial statements or income tax returns may be required to assess the financial stability of the broker.
Educational Qualifications: Relevant educational certificates demonstrating the broker’s qualifications in the real estate domain.
Validity of RERA Registration
Once registered under RERA, brokers need to be aware of the validity period associated with their registration. RERA registrations typically remain valid for a specified duration, after which renewal is mandatory. Brokers must initiate the renewal process well in advance to ensure continuity in their real estate operations.
Understanding the nuances of RERA registration is crucial for brokers navigating the evolving real estate landscape. Compliance with RERA provisions not only ensures legal operations but also enhances credibility and trust among potential clients. Brokers should stay informed about any amendments to RERA guidelines to adapt and uphold the highest standards in the real estate industry.
Documents to be produced for successful Registration
To get approved by the RERA, it is necessary to present each of the below-mentioned documents apart from the RERA registration fees.
- Genuine photocopy of PAN/ Real estate agent’s Direct identification Number/ AADHAR number/ same set of documents for all the directors and partners.
- A summary of the enterprise stating the business name, address of operation, kind of proprietorship or partnership, etc.
- Authorised photocopy of partnership deed, certificate of incorporation, memorandum of association or MOU, and articles of association.
- Complete income tax returns recorded in the previous three fiscal years need to be submitted at the time of application. If the real estate agent has failed to file returns for any particular year, then a formal notice addresses the problem.
- Photos of the agent along with his partners and other Directors.
- Contact details of all the offices (main branch and other auxiliary offices, if any).
- A detailed report of all real estate ventures and their dealers under whom the person has worked as a real estate agent for the last five years has to be produced in front of the RERA complaint status state committee.
- A written report on all active civil and criminal cases filed against the agent and associated partners, directors, or other individuals is also needed.
- Rubberstamp images, approved letterhead copies and acknowledgement receipts issued in the process are to be kept handy for future purposes.
Conclusion
The RERA law of 2016 comes with strict repercussions for all the real estate agents who are found to violate the laid down regulations. The penalisation depends on the various types of offences committed; we will learn about them. Section 66 of the RERA Act announces imprisonment for a tenure that may last for one year and a 10% project cot fine if an individual or agency is found guilty of disregarding the instructions declared by the appellate tribunal.
Section 65 penalises an entity for ignoring the regulations stated by RERA; the punishment is generally 5% payback of the involved project cost price. The same sentence is dislodged if an agent does not execute corrective actions as per the verdict of the RERA council. Section 59 calls for the most severe punishment – a 10% stipulation of the real estate project’s estimated cost. This punishment is awarded to those who don’t legally register a specific project. All these provisions are meant to secure the interests of property buyers in the country.
FAQs
What is the full form of up RERA?
The full form of UP RERA is 'Uttar Pradesh Real Estate Regulatory Authority.' It is a regulatory body established to oversee and regulate the real estate sector in the state of Uttar Pradesh, India.
What is the penalty for up RERA?
UP RERA imposes penalties for various non-compliances, and the amount can vary. Penalties may include fines for delays in project delivery, providing false information, or violating other provisions of the RERA Act.
What is the validity period of up RERA registration?
The validity period of UP RERA registration typically extends until the completion of the real estate project. The registration remains in force until the project is delivered to the buyers, ensuring accountability throughout the construction and possession phases.
What is the cost of Rera registration in Delhi?
The cost of RERA registration in Delhi varies depending on the nature and size of the real estate project. Fees are structured based on factors like the area of the project, and developers are required to pay the prescribed fee to obtain RERA registration.
What is RERA registration in India?
RERA registration in India is a mandatory process for real estate developers and agents. It involves registering real estate projects and agents with the respective state Real Estate Regulatory Authority (RERA). The objective is to bring transparency, accountability, and consumer protection to the real estate sector.
What are the requirements for up Rera registration?
The requirements for UP RERA registration include submitting essential project details, approvals, financial statements, and promoter information. Compliance with RERA guidelines, adherence to project timelines, and providing accurate project information are crucial elements for successful registration.
What is the advantage of Rera registered property?
The primary advantage of owning a RERA registered property is the assurance of transparency and accountability. Buyers of RERA registered properties benefit from project updates, timely possession, and a mechanism for grievance redressal, ensuring a more secure and regulated real estate transaction.
How powerful is RERA?
RERA is a potent regulatory framework designed to empower homebuyers and instill discipline in the real estate sector. Its effectiveness lies in its ability to regulate project timelines, curb misleading practices, and establish a dispute resolution mechanism, thus ensuring fair dealings and protecting the interests of consumers.
What if a project is not registered in RERA?
If a real estate project is not registered with RERA, it is deemed illegal, and the developer may face legal consequences. Buyers are advised to avoid investing in unregistered projects, as the absence of RERA registration compromises transparency, making it challenging to address disputes or delays.
What is the difference between RERA registered and RERA approved?
While both terms involve compliance with RERA regulations, 'RERA registered' refers to completed registration of a real estate project or agent with the regulatory authority. On the other hand, 'RERA approved' may indicate that the project has received initial approval but hasn't completed the entire registration process.
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