RERA Registration: The Real Estate (Regulation and Development) Act, commonly known as RERA, was introduced by the Government of India in 2016 to enhance transparency and accountability in the real estate sector.
The Indian real estate industry has always been one of the fastest-growing sectors, contributing significantly to the country’s economy. However, for many years, the lack of transparency, delays in project delivery, and limited accountability created mistrust between buyers and developers. To bring reform, transparency, and accountability to the real estate sector, the Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced.
Under this law, real estate projects and real estate agents must obtain RERA Registration before they can advertise, market, sell, or book any property. This registration ensures that homebuyers are protected, and developers and agents operate within a transparent and regulated system.
If you are a builder, developer, or real estate agent, getting RERA registration is not just a compliance requirement but also an opportunity to build trust, credibility, and long-term success in the real estate market.
At Kickstart Business Advisors LLP, we provide end-to-end RERA Registration services across India. Our team of experts assists you in documentation, application filing, compliance management, and timely approval, making the process hassle-free.
What is RERA Registration?
RERA Registration is the process of registering real estate projects or real estate agents with the respective State RERA authority. As per the Act, every commercial or residential real estate project that exceeds a certain size or involves advertising and selling to the public must be registered with RERA before launch.
For developers and builders, RERA Registration ensures that only compliant projects can be marketed and sold. For real estate agents, registration is mandatory to operate legally and deal in RERA-approved projects.
Once registered, the project or agent is assigned a unique RERA registration number, which must be displayed in advertisements, brochures, and official communications.
Eligibility Criteria for RERA Registration
To apply for RERA project registration in India, promoters and developers must meet specific eligibility requirements as outlined under the Real Estate (Regulation and Development) Act. Below is a detailed checklist:
Residential & Commercial Projects: All real estate projects covering more than 500 square meters or comprising over 8 units/apartments are required to register under RERA.
Ongoing Projects: Any ongoing construction project that has not yet received a completion certificate and falls within the scope of the Act must be registered within 3 months.
Independent Construction: Individuals or entities constructing or proposing to construct an independent building or apartment for sale.
Renovation or Modification Projects: Developers or promoters engaged in modifying or redeveloping existing apartments with the intent to sell.
Land Development: Any person or company involved in developing land into a project for commercial or residential sale purposes.
Government & Public Bodies: Any development authority, public body, or government agency constructing apartments, buildings, or plots on government-owned or allotted land.
Cooperative Housing Societies: State-level cooperative housing finance societies or primary cooperative housing societies constructing residential buildings for their members.
Landowners & Power of Attorney Holders: Individuals or entities holding legal ownership, possession, or power of attorney for land/property on which a building or flat is constructed for sale.
Characteristics of RERA Registration
Key characteristics of RERA include:
Establishment of Regulatory Authority: Creation of a Real Estate Regulatory Authority to oversee and register real estate projects and agents.
Transparency: Ensures transparency between promoters and buyers, protecting the interests of buyers and securing sellers’ rights.
Disclosure Obligations: Promoters are required to disclose project details, plans, and any defects in the structure. They must also offer refunds in case of non-compliance.
Financial Transparency: Promoters must deposit at least 70% of the project cost in a separate account, which can only be used for the project’s construction.
Dispute Resolution: Provides mechanisms for fast-track dispute resolution and establishes a Real Estate Appellate Tribunal for appeals.
Penalties: Specifies penalties for non-compliance with regulations and unfair practices.
Benefits of RERA Registration
Obtaining a RERA Registration Certificate provides multiple advantages for real estate promoters, agents, and homebuyers. It enhances credibility, builds customer trust, and ensures compliance with government regulations. Here are the key benefits:
Enhanced Transparency and Accountability: RERA enforces strict disclosure norms, ensuring buyers get accurate details about project layout, approvals, timelines, and pricing.
Increased Buyer Confidence: A registered project or agent builds trust among customers, leading to faster sales and better brand reputation.
Legal Protection: Both buyers and developers gain protection against fraud, delays, and false commitments as disputes are resolved under the RERA authority.
Better Access to Funding: Banks and financial institutions prefer financing RERA-registered projects, making it easier for promoters to secure loans.
Market Competitiveness: Developers with RERA registration stand apart from unregistered competitors, offering an edge in the competitive real estate market.
Timely Project Completion: RERA ensures strict monitoring of project timelines, reducing delays and safeguarding buyer investments.
Penalty Protection: By complying with RERA, developers and agents avoid heavy fines and legal consequences of non-registration.
Documents Required for RERA Registration
For Companies or Promoters:
Articles of Association and Memorandum of Association
Incorporation Certificate
PAN and TAN Card
Official Company Email
Company Identification Number
Business Address Proof
Prior Real Estate Experience
Details of Directors and Shareholders
For Individuals:
Name and PAN Card
Occupation and Proof of Address
Father’s Name
Income Tax Details
Official Website of the Promoter
Audited Balance Sheet
Income Tax Returns
Project Experience
Photographs
For Agents
State and District Registration Details
Tehsil Information
Bank Details
Name and Identity Proof
Father’s Name
Occupation
Auditor Balance Sheet and Income Tax Details
Process of RERA Registration
Visit the RERA Portal: Access the official RERA website for registration.
Create an Account: Register by creating a new account with an email ID and password.
Fill Out the Form: Provide details about the project and construction specifics.
Attach Documents: Upload the required documents with the application form.
Pay Fees: Pay the registration fees, which vary based on whether the project is residential or commercial.
Declaration: Submit a declaration affirming the accuracy of the provided information.
Verification: After verification, receive the RERA Registration Certificate.
Why Kickstart Business Advisors?
At Kickstart Business Advisors, we understand the complexities involved in RERA registration. Our expert team ensures a smooth and efficient registration process, guiding you through every step.
Expert Guidance: Our professionals offer comprehensive support and advice on RERA registration.
Efficient Processing: We handle the documentation, application, and follow-up, saving you time and effort.
Compliance Assurance: Ensure adherence to all RERA regulations with our expert assistance.
FAQs
What if a project needs to be registered in RERA?
Projects must be registered with RERA to ensure compliance with regulations and protect buyer interests.
What is the difference between RERA registered and RERA approved?
RERA registration indicates compliance with the Act’s requirements, while RERA approval confirms that the project meets all regulatory standards.
What are the requirements for RERA registration?
Requirements include detailed project information, financial disclosures, and adherence to RERA norms.
What if RERA registration is rejected?
If rejected, review and rectify the issues mentioned by the authority, and reapply.
Is it safe to buy a flat without RERA?
Buying a flat without RERA registration poses risks as it lacks regulatory oversight and buyer protection.
Can RERA cancel the project?
Yes, RERA can cancel a project if the promoter fails to comply with regulations or completes the project as promised.
What are the disadvantages of RERA for builders?
Builders may face increased compliance costs and stricter deadlines. However, RERA ensures transparency and trust.
What is Rule 4 of the RERA?
Rule 4 pertains to the registration process and the information required for registration, including project details and financial disclosures.
What is the RERA refund clause?
The RERA refund clause mandates that buyers receive a refund along with interest if the promoter fails to deliver the project on time or as promised.
How is RERA compensation calculated?
Compensation is calculated based on the delay period and the amount paid by the buyer, including interest as stipulated by RERA.
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