2 min read
25 May 2021

The Indian real estate sector’s CAGR is estimated to be 11.2% at present, and its market value is likely to cross $180 billion by 2020, and $1 trillion by 2030. Despite such rapid growth, until recently, investors faced issues relating to pricing, quality, and delivery of projects as the sector was unregulated. This called for the intervention from the authorities in the form of stricter laws and better regulation. In 2016, the government addressed this concern via RERA.

What is RERA?

To curb unethical behaviour by real estate developers, promoters or agents and to protect homebuyers’ interests, the Government of India implemented the Real Estate (Regulation and Development) Act (RERA) in 2016. According to RERA Act, every state and union territory in India has to establish a Real Estate Regulatory Authority to oversee the real estate sector within its boundaries.

Accordingly, the government of Madhya Pradesh, just like the states of Punjab, Haryana, West Bengal and others, introduced the RERA Act, Madhya Pradesh. The Madhya Pradesh Real Estate Regulatory Authority was established on 1 May 2017 to instil transparency and accountability in the state’s real estate transactions.

An Introduction of RERA MP

Functions of the RERA Act, Madhya Pradesh

Here are a few of the many functions that the RERA Act MP performs.

  • Works towards ensuring full disclosure about real estate projects by promoters and developers
  • Creates a productive environment for speedy resolution of real estate disputes
  • Extends support and guidance to the state government on matters pertaining to development and promotion of the real estate sector

MP RERA Rules and Regulations

To implement the RERA Act all across Madhya Pradesh, the RERA rules of MP were created. These rules are divided into 10 chapters, where each chapter addresses a specific area. This ranges from registration of real estate projects and promoters to collection of fees and resolution of complaints raised by homebuyers, as well as other administrative duties.

Fees and Charges of RERA MP

As per the Act, all promoters, real estate agents and developers have to register themselves with RERA, Madhya Pradesh, by paying a fee as per their profile and project eligibility. As a stakeholder you can pay the fee via a demand draft or an online transfer. Here are the charges you will have to pay.

Fee for project registration

Projects Type Area Fees
Residential projects Less than 1,000 sq.mt. Rs. 10 per sq.mt.
Residential projects More than 1,000 sq.mt. Rs. 20 per sq.mt.
Commercial Projects Less than or equal to 1,000 sq.mt. Rs. 50 per sq.mt.
Commercial Projects More than 1,000 sq.mt. Rs. 100 per sq.mt.

How to Register with RERA Madhya Pradesh?

Registering a real estate project with the Real Estate Regulatory Authority (RERA) in Madhya Pradesh, India, is mandatory under the Real Estate (Regulation and Development) Act, 2016. To register a project with RERA Madhya Pradesh, follow these steps:

Before initiating the registration process, ensure you have all the necessary documents and details related to your real estate project. This includes project plans, financial information, legal documents, and other relevant information.

Follow the below steps to register a real estate project with RERA Madhya Pradesh:

  • Visit the RERA Madhya Pradesh website
  • Create a user account or log in
  • Access the ‘New Project Registration’ section
  • Provide detailed project information, including project name, location, and developer details
  • Upload required documents and pay registration fees
  • Receive an acknowledgment and a unique RERA registration number
  • Display the RERA number in project advertisements
  • Ensure compliance with RERA regulations throughout the project
  • Renew registration as required and submit completion documents
  • Contact RERA Madhya Pradesh authorities if needed for assistance

Documents Required to Register for RERA MP

When registering your company or project as a promoter, developer or agent, you must produce certain documents. Typically, the ones required are as follows.

  • Registration details including by-laws
  • Memorandum and Articles of Association
  • Passport size photographs
  • Copy of PAN card and Aadhaar card
  • Your business’ financial documents for the past 3 years including the balance sheet, audited profit and loss account, auditor’s report and ITR
  • Documents showing that you have legal right over the said property

RERA Impact on Real Estate

Although its implementation was fairly recent, the RERA Act has already been able to regulate and promote many changes across the sector in India. Though some states like Maharashtra have implemented RERA to the T, a total of 12 states and union territories are yet to follow suit. Only once RERA is in full effect in every state of the country will it have the desired impact.

Additional Read: Effect of RERA on Real Estate

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Frequently asked questions

How to get registration number in MP?

Follow the below steps to get the registration number:

  1. Visit the RERA Madhya Pradesh website.
  2. Create or log in to your account.
  3. Fill in project details, upload documents, and pay registration fees.
  4. Receive an acknowledgment and a unique RERA registration number.
  5. Display the RERA number in project advertisements.
  6. Comply with RERA regulations, provide project updates, and renew registration as required.
  7. Contact RERA authorities if needed for assistance.
Why should real estate agents register with RERA MP?

Real estate agents should register with RERA Madhya Pradesh (MP) to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016. The act mandates that all real estate agents must be registered with the concerned state RERA authority. Here are some key benefits of real estate agents registering with RERA MP:

1. Legitimacy: Registration with RERA MP lends legitimacy to real estate agents and establishes their credibility and professionalism in the eyes of potential clients.

2. Consumer protection: RERA MP provides protection to home buyers and investors against fraud and malpractices by unscrupulous real estate agents.

3. Accountability: Registration with RERA MP makes real estate agents accountable to the regulator, reducing the likelihood of misconduct or unethical practices.

4. Business opportunities: Real estate agents who are registered with RERA MP can participate in registered projects, which can improve their business prospects and earnings potential.

5. Competitive advantage: Real estate agents registered with RERA MP have a competitive advantage over those who are not registered, as they are recognized as trustworthy and compliant with the law.

How to check RERA approved projects?

To check RERA approved projects, follow the below steps:

  1. Visit the RERA Madhya Pradesh website - http://rera.mp.gov.in/
  2. Click on the ‘Search Project’ option available on the homepage of the website
  3. Choose the ‘Project Category’ from the dropdown list
  4. Select the ‘District’ and ‘Promoter Name’ or ‘Project Name’ or ‘RERA Number’ in the respective fields
  5. Click on the ‘Search’ button
  6. The system will display the list of RERA approved projects based on your search criteria
  7. You can view the details of the project, including the name of the promoter, RERA number, project details, and status
  8. You can also download the project's RERA certificate for further verification

That’s it. By following these simple steps, you can check RERA approved projects on the RERA Madhya Pradesh website and make an informed decision before investing in a real estate project.

How do you file a complaint with RERA MP?

To file a complaint with RERA Madhya Pradesh, follow the below steps:

  1. Visit the RERA Madhya Pradesh website - http://rera.mp.gov.in/
  2. Click on the ‘Complaint Registration’ option available on the homepage of the website
  3. Fill in the required details, such as complainant name, address, phone number, etc., in the online application form
  4. Choose the ‘Nature of Complaint’ from the dropdown list
  5. Provide a brief description of the complaint in not more than 5000 characters
  6. Upload the necessary documents to support your complaint, such as project documents, agreements, receipts, etc
  7. Pay the prescribed complaint fee, if applicable, through the online payment mode
  8. Once you have submitted the application and paid the fee, the system will generate an acknowledgement receipt with a unique complaint number
  9. You can track the complaint status using the complaint number provided
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