In order to regulate the real estate sector, the Government of India has mandated the registration of all projects being undertaken by the developers and real estate agents under Real Estate Regulatory Authority Act, 2016.
Registration of Projects under RERA
It is compulsory for all developers to obtain the registration of all projects whether commercial and residential to register under RERA by submitting documents along with the prescribed fees except in projects where:
- The promoter has received completion certificate of the project prior to commencement of Act
- The area of land proposed to be developed does not exceed 500 sq. mtr
- The number of apartments is not more than 8
- Any repair or renovation of an existing building or structure that does not require marketing, advertising and selling of any apartment or plot