Latest Updates on Bihar RERA- Registration Process and Rules
The establishment of the Real Estate Regulatory Authority has somewhat changed the landscape of real estate in Bihar (RERA). Home purchasers, investors, and promoters now have better responsibility, transparency, and security due to the introduction of RERA Bihar.
What is Bihar RERA?
Bihar’s RERA Act came into effect on April 28, 2017, and it applies throughout the state. It is implemented to prevent fraudulent and deceptive actions, which greatly aid in establishing transparency and accountability in Bihar’s real estate market.
Functions associated with RERA Bihar
Registration of real estate projects
Real estate agents Registration
Redressal of complaints
Disclosure of the promoter’s project
Benefits of RERA
The RERA act intends to bring transparency and efficiency to the real estate sector, these are the major concerns when it comes to investing in real estate. The RERA Act has made it compulsory for every state government to establish its own set of real estate regulatory body to make the home-buying process transparent, hassle-free, and professional. The formation of a specific state RERA has eliminated concerns about transparency and security.
Provision under RERA Bihar
The provisions under the RERA Bihar are divided into 10 chapters, and each chapter caters to a different category. The following are some of the major rules listed in RERA Bihar.
The Act necessitates the developers and agents to get their projects registered along with relevant documents with the RERA.
Registration and further approval of projects in case they fulfil RERA requirements
Evaluating applications and approvals of the registered agent or promoter
Filing complaints of a homebuyer against developers and providing speedy resolution to their concerns
Verifying information on projects that are expected to be delisted
Fees and charges
All developers, agents, and their real estate projects are required to get registered with RERA, except in the case of the below-mentioned scenarios.
If the proposed land area is less than 500 sq meters does not require registration
Any residential apartment has less than 8 units including all phases of construction
Any project where the developer has received the completion certificate before the emergence of the RERA Act
You need to submit a RERA online fee in order to get registered with RERA. The registration fee is different for each type of project.
Fees And Charges of Bihar RERA
Late Fees Charges
Imposed late fees in case of residential project registration (1000 square meters) is Rs 5 Lakh
Imposed late fees in case of commercial, mixed, and residential project registration is RS 7 Lakh
Other Charges Implied
To avail copy of first five pages of a document
Rs 100
To avail copy of remaining pages (After five pages) of document
Rs 20 is charged per page
To file a written statement
Rs 200
Case File Inspection
Rs 200
POA in the course of hearing
Rs 50
Case restoration
Rs 500
On-site inspection of the real estate project by the RERA authority
Rs 10,000 for above 60Kms, Rs 6,000 (30Kms to 60Kms), Rs 3,000 (within 30 km)
Alterations and modifications are done in the registration form
Rs 1,000
To submit query response
Rs 1,000
To submit project status on a quarterly basis
Rs 1,000
To submit an audited statement of the dedicated project account
Rs 1,000
Group Housing
The fee charged will be Rs 5 per sqm if the area is less than or equivalent to 1000 sqm,
If the area exceeds 1000 sqm, the fee will be Rs 10 per sqm
Mixed Developments Project
If the area is less than or equivalent to 1000 sqm in that case the fee is Rs 10 per sqm
If the area exceeds 1000 sqm the fee becomes Rs 15 per sqm
Commercial Projects
If the area is less than or equivalent to 1000 per sqm, the fee charged is Rs 20 per sqm
If the area exceeds in that case the fee is Rs 25 per sqm
Plotted Development Projects
Rs 5 per sqm capped at Rs 2 Lakh
Required documents for agent registration
Authentic proof of Place of Business
Pan Card of Real estate agent
Proof of Registration – COI or Partnership Deed
Photograph of Real Estate Agent
Business Pan Card of Agent
Aadhar Card of Real estate agent
Other documents such as by-laws, memorandum of association and articles of association
Click on “project registration”, and it will redirect you to new page
Now, select the type – Promoter/Real estate agent
Select “Real estate agent”
Fill in all the required details such as mobile number, email Id, and PAN number
After completing all the steps, click on the “register” tab to complete the RERA registration process
Filing complaint with RERA Bihar
You need to fill and submit Form M to file a complaint to the authority
You need to fill and submit Form N to file a complaint to the Adjudicating Officer
How to file a complaint
Click on the “Complaint Registration” on the homepage of the official website of RERA Bihar at rera.bihar.gov
Select where you want to file you complaint form the option “Compliant to RERA / Complaint to Adjudicating Authority”
Now, fill all the required details in the RERA online form, the RERA details whether the project is registered or not needs to be mentioned in the form
After filing the form, attach the required documents with a bank draft of Rs 1000 and click on “submit” to register your complaint.
RERA Conciliation Forum
To resolve disputes between home buyers, real estate agents, and developers, the conciliation forum is created. RERA protects home buyers from malpractices by developers or agents, thus conciliation forum is formed to address the disputes between homebuyers and developers.
Conciliation Process
The conciliation process starts once the complaint is registered online, and below are the steps that are followed thereafter:
In the next step the complaint is sent to the promoter for their consent and the builder must approve the request on the RERA official website
Complaint registration requires to submit fee
Once the payment is done, the complaint is sent to the conciliator, which is followed by a hearing to resolve the issue amicably
The coordinator facilitates and attempts to resolve the matter. Further, consent is signed by both parties
If there is no consensus, the complaint is dismissed, and both parties are free to file an appeal in court
Compliances under RERA Bihar
To ensure transparency and professionalism, RERA Bihar introduced “Quarterly Compliance”.
Developers must provide a quarterly update about the proportionate completion of their projects every quarter
Architect certificate (Form 1) Engineer Certificate (Form 2) Chartered Accountant Certificate (Form 3) are categorized as RERA Return
The developer must provide the construction status to the home buyers for their respective projects
Checklist for the RERA Bihar “Quarterly compliance” includes the following
Percentage of water supply
Percentage of flooring, internal plaster, and internal walls
Installation of electrical fittings, lift, common areas, and water pumps
Percentage of lobbies, staircase, underground water tanks
Information about approvals, amendments, and modification