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What are the details required for RERA registration?

By |2022-08-25T17:31:56+05:30August 25th, 2022||

a) That he has a legal title to the land on which the development is proposed along with legally valid documents with authentication of such title if such land is owned by another person. b) That the land is free from all encumbrances or as the case may be details of the encumbrances on such [...]

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When the RERA registration is not required?

By |2022-08-25T17:25:00+05:30August 25th, 2022||

1) Where the area of land proposed to be developed does not exceeds 500 square meters or no of apartments do not exceed 8 in number. 2) The promoter has already received a completion certificate for a real estate project prior to the commencement of this Act. 3) for the purpose of renovation or repair [...]

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What is carpet area?

By |2022-08-25T17:17:34+05:30August 25th, 2022||

Yes , carpet area is clearly defined in the act . Carpet area means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of [...]

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What is RERA?

By |2022-08-25T17:05:19+05:30August 25th, 2022||

This act promotes transparency and uniformity in the real estate sector. Basically, this act regulates and promotes the real estate sector. The main objective is to promote the interest of consumers and investors in this industry. This act was passed by Rajya Sabha on 10 march 2016 and by Lok Sabha on 15 March 2016.

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The Real Estate Regulatory Authority (RERA) Act has mandated real estate developers to specify “CARPET AREA” rather than : SUPER BUILT UP AREA” . How it will be help to consumer?

By |2022-08-22T16:27:22+05:30August 22nd, 2022||

The carpet area is a measure of the net usable area of the unit and does not include common areas, balconies, verandahs, etc., whereas, the super built-up area could be an addition of both. Therefore, to ensure that the consumer knows what he is paying for, it has been made mandatory for the real estate [...]

What is an ESCROW ACCOUNT and why is Real Estate Regulatory Authority (RERA) mandating 70% funds collected be deposited in an escrow account by a real estate developer?

By |2022-08-22T16:22:52+05:30August 22nd, 2022||

An ESCROW ACCOUNT is under the purview of a third party essentially a bank or a recognized lender. This provision thereby results in future oversight of the bank account and signing authority is with the ESROW ACCOUNT manager say a trustee or a bank or a lender. One of the challenge issues for consumers has [...]

What are the responsibilities of a consumer as per Real Estate Regulatory Authority (RERA) Act, 2016?

By |2022-08-22T16:19:31+05:30August 22nd, 2022||

It is mandatory for a consumer to make timely payments to the real estate developer as per the agreement for sale. He will also have to pay his share of registration charges, municipal taxes, maintenance charges, ground rent, electricity charges, water supply charges, and any other services. As per Real Estate Regulatory Authority (RERA) Act, [...]

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