RERA registration

Q: I am planning to construct a residential project for my family where the plot area would be more than 500 sq. mtrs. and number of units would be more than 8 but these units are not for sale to anybody or to public

In this scenario do I need to apply for RERA registration? Because I understand the main purpose of RERA is to protect the allotees (home buyers) from the malpractice of the builders but in my case since I do not intend to sale the units the buyer would not come in picture.

Bharat, Pune

5th July 2017

Legal in Vishrant Wadi, Pune

property registration

rera

property registration in pune

property registration under rera

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Replies (6)

Timely Delivery of property otherwise builder has to pay fine and interest on property.
No more change in floor and master plan as builder has to develop projects as per the passed plan, cannot manipulate as per his choice.

Shival Chaudhary,

9th June 2020

Comment

Shival Chaudhary,

30th May 2020

Comment

Impact of RERA on real estate.

Lesser option of bankruptcy as builder has to maintain a Escrow Account containing 70 % of Project Value.
Timely Delivery of property otherwise builder has to pay fine and interest on property.
No more change in floor and master plan as builder has to develop projects as per the passed plan, cannot manipulate as per his choice.
All commitment done by builder during agreement must be full fill at the time of possession. Everything is going to be mentioned in BBA ( Builder Buyer Agreement).

bharti sharma,

1st May 2020

Comment

Many promoters are also using RERA Compliant services to do their referrals legally.
Loyalie is one such platform which makes referrals legal and hassle free for all. Loyalie has extensively worked with real estate companies across all India helping them ease their problems. The platform allows easy tracking and monitoring of all referrals from a single dashboard. It is easy to use and a very innovative solution under new RERA guidelines. Click here if you as a promoter want to beat your competitors and make your referrals legal.

nishant, Kolkata

8th November 2017

Comment

But if you are constructing those units for rental purpose, then remember, it will be considered as commercial activity and you have to pay service tax on it.

Ravi Waghmare, Mumbai

13th July 2017

Comment

Sir, thank you very much for your reply. But isn't Services Tax abolished now and is replaced by GST.

Thanks & regards,

Bharat

Bharat, Pune

14th July 2017

No, you do not have to register you property with RERA as you are not going to advertise for the property, not going to sale the units and there is no other owners of the property except you as there is no property registration is coming on your plot. And most important, no buyers are coming in the picture.

Yes, the main purpose of RERA is to protect innocent buyers from the malpractice of the builders.

Upendra Limaye, Pune

13th July 2017

Comment