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What is RERA, Registration, Benefits & Objectives

What Is RERA?

What Are the Rules Under RERA Act?

Why Is RERA Registration Needed?

What Are the Key Benefits Offered by RERA?

How Does RERA Impact Home Buyers?

What Are the Objectives of RERA Registration?

What Is the Process of RERA Registration?

What Are the Documents Required for RERA Registration?

What Is the Applicability of RERA Registration?

What Are the Charges for RERA Registration?

The registration charges for RERA vary from one state to another. Consider the list below to find the required details:

State

RERA Registration Charges for an Individual in ₹

RERA Registration Charges for Applicants Other than One Individual in ₹

Delhi

10000

50000

Haryana

25000

250000

Madhya Pradesh

10000

50000

Andhra Pradesh

10000

50000

Maharashtra

10590

100590

Gujarat

10000

50000

Assam

10000

50000

Chhattisgarh

10000

50000

Rajasthan

10000

50000

West Bengal

25000

250000

Chandigarh

10000

50000

Tamil Nadu

25000

50000

What Are the Penalties Under RERA Act?

Buyers

Offence

Penalty

Violation of the Appellate Tribunal’s rules

Imprisonment for up to a year, a fine equal to 10% of the project's estimated cost, or both

Non-compliance with RERA

A daily fine of up to 5% of the project's estimated cost

Agents

Offence

Penalty

Failing to register projects

A penalty of ₹ 10,000 every day up to 5% of the project's estimated cost

Violation of RERA rules

A penalty of 5% of the estimated value of the project every day

Violation of the Appellate Tribunal’s Rules

10% of the estimated cost of the project or imprisonment up to 1 year

Promoters

Offence

Penalty

Failing to register

10% of the estimated project cost

Violation of laws

A fine of 10% of the estimated cost of the property or up to 3 years of imprisonment

Giving false information

5% of the project’s estimated cost

Applicable Penalties Under RERA

Offence

Applicable Section

Applicable Penalties

Breach of terms for which registration is obtained

Section 9(7)

Registration number of agent to be cancelled

Securing registration through fraud or misrepresentation

Section 9(7)

Registration number of agent to be cancelled

Violation of Sections 9 and 10 of the RERA Act

Section 62

A fine of Rs. 10,000 is imposed for each day that the default persists, up to a maximum fine of 5% of the unit's selling price.

Violation of orders of RERA authorities

Section 65

Fine up to 5 per cent of the cost of unit sold

Violation of orders of Appellate tribunal

Section 66

Up to a year in prison or a fine equal to 10% of the unit's selling price

That piece comprehensively describes what RERA is and how it impacts home buyers, sellers and agents. Having in-depth knowledge about the registration process, documents and penalties will further help individuals in the property purchasing or selling process.

FAQs About RERA Act