What is RERA (Real Estate Regulatory Act)?

The Real Estate (Regulation and Development) Act, 2016 introduced with a view to establish regulatory authorities at the state level to register residential real estate projects and seeks to regulate contracts between buyers and sellers in the real estate sector to ensure sale of plot, apartment or building, etc. in an efficient and transparent manner. It also proposes to ensure greater accountability towards consumers, and significantly reduce frauds and delays as also the current high transaction costs.

By imposing certain responsibilities on purchasers and promoters, it attempts to balance the interest of both. It seeks to establish the following:

• Ease of information between the Promoter and Purchaser;
• High level of transparency of contractual Conditions;
• Set minimum standards of accountability and;
• A fast-track dispute resolution mechanism.

Who all are required to apply for RERA Registration?

RERA registration is applicable on promoters, project and real-estate agents subject to the following conditions:

• The applicability of the Act has been extended to commercial and residential real estate (including plotted development).
• All the residential and the commercial projects exceeding 500 square meters or more than 8 units/apartments have to mandatorily apply for RERA registration with the Real Estate Regulatory Authority (RERA); thereby ensuring that even the small projects by local promoters are brought under the ambit of the Act.
• All the ongoing projects that have not received Completion Certificates have also been brought under the purview of the Act and such projects will need to apply for RERA registration with the Regulator within 3 months.
• Prior RERA registration is required to be taken from RERA under respective state laws by the Real estate agents who facilitate selling or purchase of properties. RERA Registration certificate is valid for all over the state / UT.
• Application for RERA registration must be approved or rejected within a period of 30 days from the date of an application made.
• On successful RERA registration and approval from the authority, the promoter of the project will be provided with a unique registration number, a login id, and password for the applicants to update the necessary details about the company and project.



In case of failure to apply for RERA registration, a penalty of up to 10 percent of the project cost or three years’ imprisonment may be imposed.

What is the procedure of RERA registration?

Every promoter and agent have to register themselves with the state RERA authority as per the RERA Act. There is a prescribed procedure for the registration of real estate projects and agents.

RERA registration is done in respect of commercial projects as well as residential projects along with the necessary documents and prescribed fees.

RERA registration of Projects as per RERA Act

Following process is followed by the promoter to register a project

• Convene board meeting to pass the board resolution in respect of the following:
• Separate bank account opening to cover the cost of construction
• Filing of the RERA registration application
• Approval of the allotment letter, sale agreement, and sale deed
• Obtain title search report in relation to proposed land
• Obtain necessary licenses & NOC from the government authorities such as Fire Department, Airport Authority of India, National Highway Authority of India, National Authority Disaster Management Authority etc.
• Collection of all the necessary documents for filing application in Form A
• Filing of a RERA registration application with the respective state authority along with the prescribed fees



Note: Currently in Maharashtra, online application can be filed while in Uttar Pradesh physical copies of documents are required to be dispatched.



• Registration certificate of the project is obtained in Form C as per section 5 of the Real Estate (Regulation and Development) Act, 2016.