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All you need to know about RERA Himachal Pradesh

Source : 12 Sep, 2018

The Real Estate (Regulation & Development Act) popularly known as RERA came into effect on 1st May 2016 after the government of India sought to promote discipline and transparency in the real estate sector of the country. The real estate watchdog is expected to enhance professionalism and mar opaqueness in the real estate sector of India. The Act also mandates all Indian states to notify their own set of RERA rules, based on the notification published by the Central government.

Leaping to improve the realty sector, Himachal Pradesh notified the RERA rules on 28th September 2017 contrary to West Bengal, where the state government seems to oppose major provisions of the Central government and thus has not notified the rules yet. Not digging deep into the political affairs, let’s know about RERA Himachal Pradesh  rules, fees and archives in details.

The hilly state has included itself amongst other 26 states and Union Territories to notify this game-changing realty rules. Additionally, Himachal Pradesh is amongst few states to launch the official website for its RERA. The website facilitates online registration of real estate projects and agents along with grievance filing. Mr. Sandeep Kumar is the Designated Officer of RERA Himachal Pradesh.

Registration of Real Estate Projects and Agents with HP RERA

RERA has mandated real estate developers to register their ongoing projects (as defined in the HP RERA notification) and agents to register themselves with the Real Estate Regulatory Authority to carry out transactions in the realty sector of the state. Developers and agents can register online by visiting the official website of HP RERA.

HP RERA Registration Fee

For registering with RERA, developers and agents have to pay a registration fee as prescribed by the state government. For registering a real estate project there are various slabs depending on the area of land and type of construction.

Fee for registering real estate projects

In case of group housing project where the area of land proposed to be developed does not exceed 2500 square meters, the developers have to pay Rs. 2 per square meter. If the area of land increases 2500 square meters, the project registration fee is Rs. 5 per square meter but capped at Rs 5 lakhs.

If the project is a mixed development (consisting both residential units and commercial units such as shops, offices, malls etc.), the developers have to pay Rs 5 per square meter for project land where the area of land proposed to be developed does not exceed 2500 square meters. If the project land where the area of land proposed to be developed does exceeds 2500 square meters, the RERA registration fee is Rs 10 per square meter capped at Rs 7 lakhs.

For commercial projects the registration fee is Rs. 10 per square meter for project land where the area of land proposed to be developed does not exceed 2500 square meters and Rs. 15 per square meter (capped at Rs. 10 lakhs) for projects where the area of land proposed to be developed exceeds 2500 square meters.

RERA registration fee in case of plotted development projects is Rs 2 per square meter of project land (excluding area under roads, paths and other civic amenities), but capped to Rs 2 lakhs.

Fee for application for the time extension of Real Estate Project

A developer can apply for the time extension for the completion of his real estate project by filling up “Form E”. He has to pay an amount equivalent to half the registration fees as prescribed under sub-rule (3) of rule 3 along with an explanatory note setting out the reasons for delay in the completion of the project. He/she can pay the registration fee using demand draft or a bankers cheque drawn on any scheduled bank or a Co-operative Bank or through online payment mode.

Fee for registering real estate agents with HP RERA

The real estate agent has to pay a registration fee at the time of application for registration with the RERA by way of a demand draft or a bankers cheque drawn on any scheduled Bank or a co-operative Bank or through online payment. The applicant has to pay a sum of Rs 5000 in case of the being an individual or sums of Rs 20,000 in case the applicant other than an individual.

Fee for the renewal of the registration of real estate agent/s

Real Estate agent/s can renew their registration by filling up and submitting the application for renewal of registration "Form J" along with a demand draft or a bankers cheque drawn on any scheduled Bank or a co-operative Bank or through online payment to the authority. The applicant has to pay a sum of Rs 2500 in case of the being an individual or sum of Rs 10,000 in cases the applicant other than an individual.

Fee for filing complaint with the Regulatory Authority

Any aggrieved person may file a complaint with the Regulatory Authority for any violation under the Act by filling up "Form M" along with a fee of Rs. 500 paid using a demand draft drawn on a nationalized bank or a co-operative Bank in favour of regulatory authority and payable at the main branch of that bank at the station where the seat of the said Regulatory Authority is situated.

Fee for filing complaint with the Adjudicating Officer

Any aggrieved person may file a complaint with the Adjudicating Officer for any violation under the Act by filling up "Form O" along with a fee of Rs. 500 paid using a demand draft drawn on a nationalized bank or a co-operative Bank in favour of regulatory authority and payable at the main branch of that bank at the station where the seat of the said Regulatory Authority is situated.

Fee for filing an appeal with the Appellate Tribunal

An appeal can be filed with the Appellate Tribunal by filling "Form N" in triplicate along with a fee of Rs. 1000 paid using demand draft or a bankers cheque drawn on a scheduled bank or a co-operative bank in favour of the Appellate Tribunal and payable at the branch of that Bank at the station where the seat of the said Appellate Tribunal is situated or through online payment.

Documents required for registering with RERA Himachal Pradesh

To register an on-going project

Every promoter should furnish the following information and documents, along with those specified under section 4 of the Act, for registration of the project with the Authority, namely:-

  1. Authenticated copy of the PAN card of the promoter;
  2. Annual report including audited profit and loss account, balance sheet, cash flow statement, directors report and the auditor’s report of the promoter for the immediately preceding three financial years; and where annual report is not available, the audited profit and loss account, balance sheet, cash flow statement and the auditor’s report of the promoter for the immediately preceding three financial years; or as case may be
  3. The number of open parking areas and the number of covered parking areas available in the real estate project;
  4. Authenticated copy of the legal title deed reflecting the title of the promoter to the land on which development of project is proposed along with legally valid documents for claim of title with authentication of such title;
  5. Details of encumbrances on the land on which development of project is proposed including details of any rights, title, interest, dues, mortgage litigation in Revenue Courts and name of party in or over such land or non-encumbrance certificate from an advocate having experience of at least ten years or from the revenue authority not below the rank of Tehsildar/ Naib Tehsildar, as the case may be;
  6. Where the promoter is not the owner of the land on which development of project is proposed details of the consent of the owner of the land along with a copy of the collaboration agreement, development agreement, joint development agreement or any other agreement, as the case may be, entered into between the promoter and such owner and copies of title and other documents reflecting the title of such owner on the land on which project is proposed to be developed;
  7. Name, photograph, contact details and address of the promoter if it is an individual and the name, photograph, contact details and address of the chairman, partners, directors, as the case may be, and the authorised person in case of other entities.

To register as an agent

Every real estate agent required to register as per sub-section (2) of section 9 should make an application in writing to the Authority in Form ‘G’, until the application procedure is made web-based, along with the following documents, namely:-

  1. Brief details of his enterprise including its name, registered address, type of enterprise (proprietorship, societies, partnership, company etc.);
  2. The particulars of registration (whether as a proprietorship, partnership, company, society etc.) including the Bye-laws, Memorandum Of Association (MOA) and Articles Of Association (AOA) etc. as the case may be;
  3. Name, address, contact details and photograph of the real estate agent, if it is an individual and the name, address, contact details and photograph of the partners, directors etc. in case of other entities;
  4. An authenticated copy of the PAN card of the real estate agent;
  5. An authenticated copy of the address proof of the place of business.

Additional disclosure by the promoters of ongoing projects

The promoter should in addition to disclosures provided in rule 3 disclose the following information:-

  1. The original sanctioned plan, layout plan and specifications and the subsequent modifications carried out, if any, including the existing sanctioned plan, layout plan and specifications;
  2. The total amount of money collected from the allottees and the total amount of money used for development of the project including the total amount of balance money lying with the promoter;
  3. Status of the project (extent of development carried out till date and the extent of development pending) including the original time period disclosed to the allottee for completion of the project at the time of sale including the delay and the time period within which he undertakes to complete the pending project, which should be commensurate with the extent of development already completed, and this information should be certified by an engineer, an architect and a chartered accountant in practice.
  4. The size of the apartment based on carpet area even if earlier sold on any other basis such as super area, super built-up area, built up area etc. which should not affect the validity of the agreement entered into between the promoter and the allottee to that extent.
  5. In case of plotted development, the promoter should disclose the area of the plot being sold to the allottees as per the layout plan.
  6. For projects that are ongoing and have not received completion certificate, on the date of commencement of the Act, the promoter should, within a period of three months of the application for registration of the project with the Authority, deposit in the separate bank account, 70% of the amounts already realized from the allottees, which have not been utilized for construction of the project or the land cost for the project as required under sub-clause (D) of clause (l) of sub-section (2) of section 4 of the Act which should be used for the purposes specified therein

Note: All Inforamtion provided by third party source.

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