We provide Rera Registration in Patna Bihar,Rera project registration services in Patna Bihar. We can help you in RERA registration in Patna Bihar,Online RERA registration in Patna, Bihar. Registration under RERA Act, 2016 is mandatory for all type of Real estate business and projects. We will give you all important information about RERA registration in this article in brief.

RERA Registration

RERA registration means, registration under rules and regulations of RERA (The Real state regulation and development) Act, 2016. This act was passed by Indian Parliament on 1^stday of May, 2016. This act has been passed for protecting home buyers and helping investors of real estate industry. The RERA act registration is mandatory for all commercial and residential real estate projects. For ongoing projects which have not received completion certificate on the date of commencement of this act, they also have to get registration under this act within 3 months. As per provision of RERA act builders and real estate companies’ have to deposits 70% of project cost in a separate bank account. Builder will be penalized if there will be delay in project completion. Developers have to put all information about the project and promoters of the real estate company. RERA registration established transparency in real estate sector. RERA act ensuring that sale of real estate projects, in an efficient and transparent manner. Buyer paid only 10% as booking amount, which is paid only after registering the agreement for sale with builders. Under RERA act application must be grant or reject within 30 days by Real Estate Regulatory Authority.

Advantage of RERA Registration

Fat track dispute resolution.
Provides protection to buyers and protect their interest.
Established transparency in real estate sector.
Provides all and proper information about builders and project.
Timely delivery of project to buyers.
Without registration under RERA act, real estate companies and builders cannot advertise any project.
Reduction in booking amount, now it is 10%.

Documents Required for RERA Registration

Copy of Pan Card and Aadhar Card of all promoters of the Real Estate Company /builder.
MOA & AOA, pan card, incorporation certificate of business.
Land Agreement Papers.
Photograph, contact detail of promoters or authorized persons.
Plan sanction letter.
Proposed plan layout.
Index of floor space to be consumed.
Number of buildings or wings.
ITR and balance sheet of builders last 3 years.
Information about architecture and design standards.
All other information and documents required by authority of this act.

Procedure of RERA Registration

Documents preparation.
File application form with all required documents.
Pay fee.
You will receive a registration number from RERA authority.

RERA Registration Before commencement of RERA act, real estate sector is most unorganized and unregulated sectors. But after RERA act it is regulated by the rules and regulations of this act. After registration under RERA act, registration numbers need to be mentioned on all property sale documents. Builders are required to maintain books of accounts, records etc on quarterly basis. If builders fail to get registration under RERA act they will pay heavy penalty. So it is good for all buyers. RERA is fully based on online registration process. So you no need to visit our office. Send us your all self attested documents through email. We will do all your work. You can pay our fee online.

If you want to get Rera registration for your projects or land development business, call or whatsapp us at +91-8540099000

In recent years, the real estate sector has witnessed significant regulatory reforms aimed at protecting the interests of homebuyers and promoting transparency and accountability in the industry. One of the most significant reforms is the implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA), which mandates the registration of real estate projects and agents. In this blog, we’ll delve into the importance of RERA registration, its benefits, and the process involved in obtaining this critical certification.

Understanding RERA Registration:

RERA registration is a mandatory requirement for real estate developers and agents involved in the sale or marketing of residential and commercial projects. The objective of RERA registration is to promote transparency, accountability, and professionalism in the real estate sector by ensuring compliance with regulatory standards and safeguarding the interests of homebuyers.

Significance of RERA Registration:

RERA registration offers several key benefits for homebuyers, developers, and real estate agents:

Consumer Protection: RERA registration provides a high level of protection to homebuyers by ensuring that real estate projects are delivered on time, as per promised specifications, and without any unfair practices. It mandates developers to adhere to strict guidelines and standards, thereby reducing the risk of fraud, delays, and disputes.
Transparency and Accountability: RERA registration enhances transparency and accountability in the real estate sector by requiring developers to disclose project details, financial information, construction progress, and other relevant information on the RERA portal. This allows homebuyers to make informed decisions and mitigate risks associated with property investments.
Regulatory Compliance: RERA registration ensures compliance with regulatory requirements and standards set forth by the government. Developers and agents must adhere to RERA guidelines, including the timely completion of projects, adherence to quality standards, and resolution of grievances in a transparent manner.
Dispute Resolution Mechanism: RERA provides a dedicated dispute resolution mechanism for resolving disputes between homebuyers and developers in a timely and efficient manner. The regulatory authority appointed under RERA acts as a mediator and facilitates the resolution of disputes through conciliation or adjudication.
Professionalism and Credibility: RERA registration enhances the professionalism and credibility of developers and agents in the eyes of homebuyers and investors. It signifies a commitment to ethical business practices, compliance with regulatory standards, and accountability for delivering on promises.

The Process of Obtaining RERA Registration:

The process of obtaining RERA registration involves the following steps:

Preparation of Documents: Gather the necessary documents and information required for RERA registration, including project details, land title documents, layout plans, approvals, financial statements, and promoter details.
Online Application Submission: Register online on the RERA portal of the respective state or union territory and fill out the RERA registration application form with accurate project details and supporting documents. Pay the prescribed registration fee as per the RERA rules and regulations.
Verification and Scrutiny: The regulatory authority scrutinizes the application and documents submitted for compliance with RERA requirements. This may include verifying project details, land ownership, approvals, financial viability, and promoter credentials.
Approval and Issuance: Upon successful verification and scrutiny, the regulatory authority approves the RERA registration application and issues the RERA registration certificate for the project. The certificate specifies project details, timelines, obligations, and other relevant information.
Project Updates and Compliance: Maintain ongoing compliance with RERA requirements throughout the project lifecycle. Update project status, construction progress, sales details, and other relevant information regularly on the RERA portal to keep homebuyers informed and ensure transparency.
Grievance Redressal: Establish a grievance redressal mechanism for addressing complaints and grievances raised by homebuyers or stakeholders during the project development phase. Respond to grievances promptly and resolve them in accordance with RERA guidelines.

Conclusion:

In conclusion, RERA registration plays a pivotal role in promoting transparency, accountability, and consumer protection in the real estate sector. By mandating developers and agents to register their projects under RERA, the government aims to safeguard the interests of homebuyers, enhance confidence in the real estate market, and foster sustainable growth and development. Aspiring homebuyers should prioritize investing in RERA-registered projects to mitigate risks and ensure a smooth and hassle-free property buying experience. Similarly, developers and agents should embrace RERA registration as a mark of credibility, professionalism, and commitment to delivering quality projects in compliance with regulatory standards. By embracing the principles of RERA registration, stakeholders can contribute to building a resilient, transparent, and vibrant real estate ecosystem that benefits all stakeholders in the long run.