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.
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.
Sir, thank you very much for your reply and confirm my thoughts on RERA.
Thanks & regards,
Bharat
14th July 2017
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.
Sir, thank you very much for your reply. But isn't Services Tax abolished now and is replaced by GST.
Thanks & regards,
Bharat
14th July 2017
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