Source: squareyards

The real estate sector of Jharkhand has shown immense growth in recent years and has succeeded in satisfying home buyers. However, enacting fair laws is also necessary to hold this growth. This is why the RERA act in Jharkhand has been initiated by the state government.

This article has assembled all the necessary details of the act, and to learn about it, keep scrolling.

RERA in Jharkhand is a beneficial act by the state government to save the homebuyers' interest while buying a property from a builder or promoter. Consumers can get grievances and redressal quickly by appealing to the Appellate Tribunal. Besides, the law regulates the sector perfectly to avoid or solve any dispute. Therefore, every builder who wants to build a property within the state's territory must register under this act.

If you are wondering about the important rules of RERA in Jharkhand, check out the following list:

• According to this act, a total of 70% of buyers' and investor's money should be deposited in a separate account.
• Builders cannot charge more than 10% of the total payment in advance from any buyer.
• Builders must charge only for the carpet area.
• Any dispute within 5 years should be solved in 30 days after filing the complaint.
• Builders can not make and sell a property before registering under this act.
• A full refund should be given to the homebuyers in case of dispute or delayed handover of the property.

Follow these below-mentioned steps to register a project under RERA Jharkhand:

Step 1: Go to the official site of RERA Jharkhand.

Step 2: On the home page, find the "Registration" tab.

Step 3: Choose the "Project" option.

Step 4: Carefully read the user manual, required documents and checklist.

Step 5: Fill the declaration checkbox.

Step 6: Choose the "Project Registration" tab.

Step 7: Fill up project details such as project area, type, etc.

Step 8: Proceed to pay either online or by a cheque or demand draft.

Step 9: Fill up necessary information on the payment window.

Step 10: Click on submit.

Property-Related Documents:

• Sale deed
  
• Updated Rent Receipt
• Mutation certificate
• Registration certificate that is issued by Zila Parishad/U.L.B or Regional Development Authority
• Copy of an agreement between developer and landowner
• U.L.B issued permission letter
• Performa of the letter to the customer by the developer
• Customised agreement performa for sale between customer and builder
• Details of the floor of each block and flat
• Map copy with architect's name
• Performa of form B
• Copy of original and modified plan

Promoter's Details

• Copy of PAN card
• An audited balance sheet of last financial year
• Income tax return statement of last 3 years
• Personal details proof if registering as an individual
• Company details proof if registering as a business entity

Follow this stepwise guide to register as a project agent under this act:

Step 1: Go to the official site of RERA Jharkhand.

Step 2: Select the “Registration” tab from the home page.

Step 3: Click on "Agent Registration".

Step 4: Click on Application and input PAN number.

Step 5: Select the "Get Agent Details" option.

Step 6: On the next tab, enter every personal detail, including name, Aadhaar and PAN number.

Step 7: Click on the "Save and Next" button.

Step 8: Choose the "Project Registration" button.

Step 9: Enter the project details.

Step 10: Provide the necessary information of a real estate agent.

Step 11: Proceed to pay.

Step 12: Click on submit and download Form B.

Here is the checklist of important documents that should be provided to register as a project agent

• Copy of PAN card
• Copy of Aadhaar card
• Proof of address of the business entity
• Documents of ownership
• Income tax returns statement of last 3 years
• Personal details such as name, contact information of the agent
• Photographs of the agent
• Company's registration certificate
• Deed of conveyance

There have been no such major updates recently; however, the act again has ensured that every builder should register first under RERA act, then can start advertising about the project. Further, the act also tells homebuyers not to purchase property from unregistered agents. Additionally, every project advertisement board and prospectus should have RERA Jharkhand registration numbers.

The easy steps to check the application status are as follows:

Step 1: Visit the official site of RERA Jharkhand.

Step 2: Find "Application Status" on the home page and click on it.

Step 3: From the drop-down menu, choose either project registration status or agent registration option.

Step 4: On the next window, fill up the application type, registered PAN number and acknowledgement number.

Step 5: Click on submit to check the status.

Stepwise guide to find registered projects under RERA Jharkhand is as follows:

Step 1: Go to the official site of RERA Jharkhand.

Step 2: Scroll down on the home page.

Step 3: Find the "Quick Search" box.

Step 4: Click on "Online Registered Project" and check the status.

Follow these below-mentioned steps to check registered agents:

Step 1: Visit the official site of RERA Jharkhand.

Step 2: On the home page, find the "Quick Search" option.

Step 3: Click on the "Registered Agents" option.

Step 4: Click on it and check the list.

To access the rejected project list under RERA Act in Jharkhand, follow these steps:

Step 1: Visit the official site of RERA Jharkhand.

Step 2: Scroll down to the "Quick Search" option.

Step 3: Find the "Rejected Projects" option.

Step 4: Click on it and access the list.

The process of raising a complaint under RERA Jharkhand is as follows:

Step 1: Go to the official site of RERA Jharkhand.

Step 2: Click on the "Complain" tab on the home page.

Step 3: Click on "Complaint Form" from the drop-down menu.

Step 4: Fill up the necessary details on the next window.

Step 5: Proceed to payment.

Step 6: Click on submit and record the complaint number.

To access progress report, follow these steps:

Step 1: Go to the official site of RERA Jharkhand.

Step 2: Click on the "Official Document" option.

Step 3: Choose the "Annual Report" option from the drop-down.

Step 4: Access the document.

As the whole discussion has brought out the important provisions, rules and processes of RERA Jharkhand, now check out the potential benefits of these. Mainly the act is helpful for homebuyers; however, builders also get a streamlined working process with the help of this act.

• The act helps to protect the buyers' rights.
• This act makes the whole process from building a property to selling it transparent.
• Builders cannot charge any excessive amount from the home buyers.
• The charges are only made on the basis of carpet area, not for the super-built area.
• Home buyers can worry less about the disputes as builders are responsible for that within the span of 5 years.
• Delay in handover is strictly prohibited so home buyers can get their property on time.

Thus, the RERA act in Jharkhand is perfect for effectively managing the state's real estate sector. The act ensures that the builders are registered, which helps hold the industry's clarity. In addition, the portal of RERA Jharkhand is also very user-friendly, and one can easily find every detail.