RERA is defined as a regulatory authority that maintains a set of rules and regulations with the ultimate goal of pacifying the real estate industry and its workings with transparency, as well as warding off any discrepancies and fraudulent activities that developers may engage in.
As RERA, the Real Estate Regulation and Development Authority Act, came into existence in May 2017, each state in India launched its own regulatory authority and an online portal, Uttarakhand RERA is one of them. With each state emphasizing its own RERA, it became possible to define and practice compliance and complaint redress.
Eligibility for registering with RERA Uttarakhand
In order to register your real estate project under RERA UK, you must meet certain requirements, according to the RERA Uttarakhand registration eligibility criteria.
Following are the eligibility criteria for Uttarakhand RERA that must be met in order to register with this regulatory authority:
- Any housing real estate project with an area of 500 square meters or more than 8 apartments has to be registered with the Real Estate Regulatory Authority (RERA) prior to advertising or selling a project.
- Any real estate agent must register themselves with RERA prior to promoting the sale or purchase of real estate properties.
- If any project is ongoing which has not obtained the completion certificate on the date of commencement of the Act is required to be registered with RERA within three months.
Transparency in the market
RERA protects buyers from non-professionals by ensuring that the land title is clear, the encumbrances are viable, and the documents up for sale are solid, legally enforceable, and in line with the model documents. Independent engineers and financial experts monitor physical progress and financial discipline, as well as ensure the development and operation of the owners’ associations.
The act promotes transparency in the real estate sector in the following ways:
- Ensures that sanctioned plans, layout plans, and specifications are approved by the appropriate authority.
- It enables buyers to request from the promoter the proposed Plan, the proposed Layout Plan of the entire project, and the Floor Space Index proposed to be consumed throughout the entire project.
- The authorized and proposed number of buildings or wings to be built.
- The project’s completion timeline, stage by stage, includes provisions for civic infrastructure such as water, sanitation, and electricity.
- Quarterly update of the number of covered parking spaces and garages booked.
- Update the list of approvals granted and pending approvals on a quarterly basis.
- which are subsequent to the commencement certificate.
- Quarterly project status updates
- Other information and documents required by GUJRERA regulations.
The RERA registration number and website address of GUJRERA, where all the details of the registered project have been entered, must be prominently displayed in the advertisement or prospectus issued by the promoter.
Financial discipline
- According to the act, the promoter cannot accept more than 10% of the total cost of the apartment, plot, or building as an advance payment or an application fee from a person without first concluding a written agreement for sale with that person and registering the said agreement for sale.
- Allottees must maintain a separate account in a designated bank to cover the cost of construction and land costs. This account may only be used for that purpose and must be funded with 70% of the amounts periodically realized for the real estate project.
- A practicing chartered accountant, an engineer, and an architect must certify the project’s progress before withdrawals from these accounts may be made.
- In the event of any misrepresentation or error, the promoter is required to give the buyer a full refund of the purchase price plus interest.
- Copy to be sent to RERA Uttarakhand of Project Accounts to be Audited/FY.
- Provision for RERA Uttarakhand to freeze the project bank account upon non-compliance.
- Impose stronger financial penalties for violating RERA Uttarakhand.
How to register a project with Uttarakhand RERA
Following are the given steps to register a real estate project with RERA Uttarakhand-
Step 1: Firstly, log on to the official website of Uttarakhand RERA.
Step 2: Navigate to the ‘Project Registration’ option on the homepage, and this will take you to the page where you have to fill out the registration.
Step 4: Click on the “Next” button in order to proceed, following the instructions mentioned over there.
Step 5: Now you can check the list of all registered projects with RERA Uttarakhand.
Real estate agent registration
Here are the steps which you need to follow in order to register as a real estate agent with RERA in Uttarakhand online-
Step 1: Log on to the official Uttarakhand RERA website.
Step 2: Select the “Agent Registration” tab on the homepage of the UK RERA website, this will redirect you to the page where you have to fill up the required details in the registration form.
Step 4: After filling out the registration form click on the “Next” tab in order to move further as per the given instructions.
RERA Uttarakhand Documents and Information Required
The required documents for RERA Uttarakhand must be submitted by the real estate promoter and agent, in order to complete the RERA UK registration, are given below –
Uttarakhand RERA Documents for Promoters
These are the required documents for UK RERA that a promoter is required to submit –
- An authenticated PAN card copy
- An audited balance sheet for the previous financial year
- IT Returns for the previous 3 financial years
- Details related to the encumbrances on the land for which the real estate development has been proposed including the information on any title, interest, litigation, dues, etc.
- Total number of open parking areas that are available in the proposed real estate project
- A valid copy of the legal title deed that specifies the promoter’s title to the land for which the real estate project development is proposed
- A declaration stating that the promoter shall not discriminate against any allottee at the time of allotment of a property
Required Documents for Real Estate Agents
Here are the RERA Uttarakhand documents that are required to be submitted by real estate agents for the RERA real estate project registration-
- A copy of the PAN card
- A copy of address proof of the agent’s address or the address of partners or directors
- The registration certificate copy (in case of companies or firms)
- A copy of the address proof of business
- Photographs of the partners, agents, directors, etc.
- IT Returns for the previous 3 financial years
How to File a Complaint with RERA Uttarakhand?
The RERA Act is intended to protect the buyers from the malpractices carried out by the developers as well as to ensure transparency across all real estate dealings. This act came into effect in May 2017 across all the states of India with the intention of making sure that there is speedy dispute resolution within the real estate sector.
Each Indian state came up with its own act along with a website and a particular authority that provided buyers with an opportunity to file complaints, and the concept intact. Buyers can file a complaint under the Uttarakhand RERA Act against any malpractice with respect to agent services or the registered project.
The following is the procedure for filing a complaint with Uttarakhand RERA:
Step 1: First of all, head to the official RERA Uttarakhand website. Click on the “Complaint Registration” tab of the website.
Step 2: Then, select the option for whether you’d like to complain before RERA or under the authority that is adjudicating.
Step 3: In the next step, you have to fill out the form online. You must fill out this form completely, including the complaint against column and a statement indicating whether or not the project in question is registered with RERA Uttarakhand.
Step 4: Fill in the required details related to the complainant, including their address and contact number.
Step 5: Next, the respondent’s information, including their address and the complaint’s details, must be included. This information must also make clear any relief that is anticipated from RERA.
Step 6: After you have completed filling out the form with all the necessary information, you must continue by submitting the supporting documentation. You have to make an online payment or bank draft worth INR 1000/-. Then, by clicking the submit button, you can proceed with declaring and then confirming your consent.
You can save your complaint reference number for future use after completing the form and submitting it.
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