Real Estate Projects – Information and documents to be furnished by the promoter for registration of project

The Ministry of HUPA has prepared DRAFT  rules for Real Estate Regulation and Development Act 2016 for UTs without legislature (Andaman & Nicobar Islands, Chandigarh, Dadra & Nagar Haveli, Daman & Diu, Lakshadweep).  Public comments are sought on the same by maximum 08th July, 2016.

Information and documents to be furnished by the promoter for registration of project.-
(1) The promoter shall furnish the following additional information and documents, along with those specified under the relevant sections of the Act, for registration of the real estate project with the regulatory authority namely:-
(a) authenticated copy of the PAN card of the promoter;
Draft
(b) audited balance sheet of the promoter for the preceding financial year and income tax returns of the promoter for three preceding financial years;
(c) the number of open parking areas available in the said real estate project;
(d) copy of the legal title deed reflecting the title of the promoter to the land on which development is proposed to be developed along with legally valid documents with authentication of such title, if such land is owned by another person;
(e) the details of encumbrances on the land on which development is proposed including any rights, title, interest or name of any party in or over such land along with details;
(f) where the promoter is not the owner of the land on which development 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 proposed to be developed;
(g) such other information and documents, as may be specified by regulations.

(2) The application referred to in sub-section (1) of section 4 shall be made in writing as per Form ‘A’, which shall be submitted in triplicate, until the application procedure is made web based as provided under sub-section (3) of section 4 of the Act.

(3) The promoter shall pay a registraion fee at the time of application for registraion by way of a demand draft drwan on any scheduled bank, for a sum calculated at the rate of:-
(a) rupees ten per square meter for residential projects where the area of land proposed to be developed does not exceed one thousand square meters; or rupees twenty per square meter for residential projects where the area of land proposed to be developed exceeds one thousand square meters; or

(b) rupees fifty per square meter for commercial or any other projects, where the area of land proposed to be developed does not exceed one thousand square meters; or rupees one hundred per square meter for commercial or any other projects, where the area of land proposed to be developed exceeds one thousand square meters;

(4) The declaration to be submitted under clause (l) of sub-section (2) of section 4 of the Act, shall be as per Form ‘B’, which shall include a declaration stating that the promoter shall not discriminate against any allottee at the time of allotment of any apartment, plot or building, as the case may be.

(5) In case the promoter applies for withdrawal of application for registration of the project before the expiry of the period of 30 days provided under sub-section (1) of section 5, registration fee to the extent of ten percent paid under sub-rules (3) above, or rupees fifty thousand whichever is more, shall be retained as processing fee by the
Draft regulatory authority and the remaining amount shall be refunded to the promoter within thirty days from the date of such withdrawal.

4. Disclosure by promoters of existing projects.-

(1) Upon the notification for commencement of sub-section (1) of section 3, promoters of all ongoing projects which have not received completion certificate shall, within the time specified in the said subsection, make an application to the Regulatory Authority in the form and manner provided in Rule 3.

(2) The promoter shall disclose all project details as required under the Act and the rules and regulations made thereunder, including the status of the project and the extent of completion.

(3) The promoter shall disclose 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 shall not affect the validity of the agreement entered into between the promoter and the allottee to that extent.

(4) In case of plotted development the promoter shall disclose the area of the plot being sold to the allottees.

5. Withdrawal of sums deposited in separate account.-

(1) For the purposes of subclause (D) of clause (l) of sub-section (2) of section 4, the land cost shall be the cost incurred by the promoter, whether as an outright purchase, lease charges etc.
(2) For the purposes of sub-clause (D) of clause (l) of sub-section (2) of section 4, the construction cost shall be the cost incurred by the promoter, towards the on-site expenditure for the physical development of the project.
6. Grant or rejection of registration of the project.-

(1) Upon the registration of a project as per section 5 read with Rule 3, the Regulatory Authority shall issue a registration certificate with a registration number as per Form ‘C’ to the promoter.
(2) In case of rejection of the application as per section 5 the regulatory authority shall inform the applicant as per Form ‘D’.

7. Extension of registration of the project.-

(1) The registration granted under section 5, may be extended as per section 6, on an application made by the promoter in Form ‘E’ which shall not be less than three months prior to the expiry of the registration granted.

(2) The application for extension of registration shall be accompanied with a demand draft drawn on any scheduled bank, for an amount equivalent to twice the registration fee 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 and the need for extension of registration for the project, along with documents supporting such reasons:

Provided that where extension of registration is due to force majeure the regulatory authority may at its discretion waive the fee for extension of registration.

(3) Extension of registration of the project shall not be beyond the period provided as per local laws for completion of the project or phase thereof, as the case may be.
Draft

(4) In case of extension of registration, the regulaotry authoirty shall inform the promoter about the same as per Form ‘F’ and in case of rejection of the application for extension of registration the regulatory authority shall, after giving an opportunity to the applicant to be heard in the matter as per second proviso of section 6, inform the promoter about the same as per Form ‘D’:

8. Revocation of Registration of the project.-

Upon the revocation of registration of a project as per section 7 the regulatory authority shall inform the promoter about such revocation as per Form ‘D’.

9. Agreement for sale.-

(1) For the purpose of sub-section (2) of section 13, the agreement for sale shall be in the form as per Annexure ‘A’.

(2) Any application letter, allotment letter or any other document signed by the allottee, in respect of the apartment, plot or building, prior to the execution and registration of the agreement for sale for such apartment, plot or building, as the case may be, shall not be construed to limit the rights and interests of the allottee under the agreement for sale or under the Act or the rules or the regulations made there under.

Courtesy: mhupa.gov.in

For complete Draft Copy of this RERA documents, Please download here.

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