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RERA Registration

RERA Registration-Why Registration Required.
The Real Estate (Regulation & Development) Act, 2016 aims to establish the Real Estate Regulatory Authority that would regulate and promote the real estate sector.
RERA makes it mandatory for all commercial and residential real estate projects where the land is over 500 square meters or eight 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 . Developers have to post details like project plan, layout plan, approvals, land title status, details of promoters, contractors, architects, date of completion with the State RERA – Customers can access this information from the RERA websites.