Real Estate Regulatory Authority Registration
At one time, when purchasing a property that was being built in India, buyers had no choice but to rely on the builder's word and had to hope that the date on which possession would be handed over wouldn't be postponed. The requirement to register with the Real Estate Regulatory Authority altered this situation by providing buyers with a legal benchmark and enabling developers to have a compliance framework that they can no longer ignore quietly. For anyone involved in the business—whether they are a promoter, a broker, or a buyer who is looking into a project—the details of RERA registration are more important than most people think.
RERA Types of Registration
The procedure for obtaining RERA registration is not the same for all cases; rather, it is divided into two different types according to the applicant:
- Project registration, submitted by the promoter / developer for each real estate project individually
- Real estate agent registration, for brokers and agents who assist in the sale or purchase of property on behalf of buyers or promoters
A developer must register each project separately and cannot use a single certificate for more than one development, even when the developments are in the same state.
Who This Is Essential For
Projects that involve more than eight apartments or land exceeding 500 square meters—whichever of these two figures is higher—must be registered. This requirement also applies to projects that are currently underway and which have not yet obtained the completion certificate as of the date on which the RERA rules came into effect in the relevant state. On the agent side, all middlemen involved in property transactions, whether individuals or firms, have to be registered before they can act as brokers on any deal.
Law Applicable
The framework makes use of the Real Estate (Regulation and Development) Act, 2016, as well as the rules issued by each state's own Real Estate Regulatory Authority. Although the procedural details, the fee structures, and the portal formats may differ from state to state since implementation is specific to each state, the main obligations remain the same.
Prerequisite for Application
Before filing the application, building plans and layout approvals, and setting up a separate project bank account into which the seventy percent of the buyer's funds that are to be used exclusively for construction costs can be received, a promoter must have clear title to the land. However, agents generally need their business registration and identity documents in place before they apply.
Required Documents for Authority Registration
In order to register a project you must submit your PAN and the documents showing incorporation, proof of title and ownership of the land, the approvals for the sanctioned plan and layout, any statutory no-objection certificates (NOCs), details of any previous projects, certificates from the architect and the engineer, and information regarding the designated escrow account. For agents, the requirements for registration are relatively low since it is only necessary to provide the PAN, proof of address, the business registration documents, photographs and a declaration affidavit.
Registration Process of RERA
The applications are filed online on the respective state RERA portal with the prescribed fee in Form A for project registration and Form G for agent registration. The authority reviews the application and supporting documents and, if satisfied, issues a unique registration number, which needs to be displayed on all advertisements, brochures, and marketing material pertaining to that project. As a rule, the registration is valid until the announced end date or, if extended, until the extended date.
Other Things to Know
Registered promoters are required to upload quarterly project updates on the RERA portal, including progress of construction, changes in the sanctioned plan, and utilization of funds from the escrow account. Selling or advertising an unregistered project can attract a penalty of up to 10 percent of the project cost and imprisonment in case of continued default. Delayed possession also entitles buyers to compensation or interest, which is precisely the accountability RERA was designed to enforce.
Between land title verification, escrow account structuring, and staying current with quarterly disclosures, RERA compliance tends to demand more ongoing attention than most builders expect at the outset. Corpzo assists promoters and real estate agents with end-to-end RERA registration, from document preparation and portal filing to ongoing compliance support, so real estate businesses stay on the right side of the regulator without losing momentum on their projects.