Panchkula, a planned city in the state of Haryana, adjacent to Chandigarh, has been witnessing a consistent rise in its real estate sector. Thanks to its well-laid-out infrastructure and proximity to the city of Chandigarh, Panchkula has become a coveted location for residential and commercial developments. The real estate market in Panchkula benefits from its serene environment and the availability of ample land, attracting both developers and homebuyers. This surge in property development, however, brings the need for stringent regulations to ensure fair transactions and protect buyer interests. The Real Estate (Regulation and Development) Act, 2016 (RERA), implemented in Panchkula, aims to address these needs effectively.
Thanks to RERA's rigorous adherence to project deadlines and quality benchmarks, potential buyers can navigate the market with confidence. Paired with accessible home loan options from Bajaj Housing Finance, this enables buyers to make informed choices and realise their homeownership goals efficiently.
What is RERA in Panchkula?
The Real Estate (Regulation and Development) Act, 2016, commonly referred to as RERA, is a pivotal act enforced to regulate and promote the real estate sector in Panchkula. RERA's primary objectives include ensuring transparency in real estate transactions, protecting the interests of home buyers, and establishing an arbitration mechanism for dispute resolution. The Haryana Real Estate Regulatory Authority (HRERA) is the governing body responsible for the implementation of RERA in Panchkula. The introduction of RERA has brought numerous benefits, such as standardised business practices, reduced risk of builder insolvency, and timely delivery of projects, making the real estate market more buyer-friendly and reliable.
What is the function of RERA in Panchkula?
RERA in Panchkula serves several key functions to streamline the real estate sector:
- Project registration: Ensures that all real estate projects meet required standards before they can be sold.
- Transparency: Mandates the disclosure of all pertinent information regarding the projects.
- Consumer protection: Focuses on safeguarding buyer interests and ensuring their grievances are addressed promptly.
RERA in Panchkula: How can you access approved projects list?
Accessing the list of RERA-approved projects in Panchkula is straightforward with these steps:
- Visit the official HRERA website dedicated to RERA compliance in Haryana.
- Navigate to the ‘Approved Projects’ section available on the website.
- Select ‘Panchkula’ from the dropdown menu to filter projects specific to the region.
- Review the list, which includes detailed information about each project’s compliance status, developer details, and project specifications.
- For more detailed insight, select individual projects to view extensive details including legal approvals and project status updates.
What are the rules and regulations of the RERA Act in Panchkula?
The RERA Act in Panchkula sets forth strict rules and regulations to ensure the integrity of the real estate market:
- Comprehensive disclosure: Developers must provide detailed information about their projects, including site and layout plans, approval status, and land title status.
- Regulation of funds: A stipulated percentage of the buyer’s investment must be deposited into a separate escrow account to be used exclusively for the construction of the project.
- Redressal mechanisms: RERA provides a robust mechanism for the redressal of grievances faced by buyers, offering resolutions in a time-bound manner.
How can you register with RERA Act in Panchkula?
Registering a project under RERA in Panchkula involves the following steps:
- Prepare and collect all necessary documentation, including title deeds, project plans, and builder credentials.
- Complete the RERA registration form available online on the HRERA portal.
- Submit the application along with the requisite documents and pay the registration fee.
- Once the application is verified and approved, the project will receive a RERA registration number, which should be displayed in all promotional activities.
What are the fees and charges of RERA in Panchkula?
The registration fees and charges for RERA in Panchkula are outlined below:
Rate of registration for builders/promoters:
| Category | Hyper/High Potential I & II | Medium/Low Potential |
| Residential/industrial | Rs. 10 per square metre | Rs. 5 per square metre |
| Other than individual | Rs. 20 per square metre | Rs. 10 per square metre |
Fees for filing complaint:
| Complaints | Fees in Rs. |
| Filing complaint before the authority | 1,000 |
| Filing the appeal before the appellate tribunal | 1,000 |
| For every annexure | 10 |
| Additional affidavit | 20 |
The Bajaj Housing Finance Home Loan offers a wide array of personalised financial solutions tailored to meet the unique needs of prospective homebuyers in Panchkula. Here are the reasons why selecting Bajaj Finance for your home loan could be beneficial:
Why choose Bajaj Housing Finance Home Loan in Panchkula
Bajaj Housing Finance Home Loan provides tailored financial solutions designed to meet the diverse needs of homebuyers in Panchkula, enhancing the property-buying experience in this emerging market. Here’s why Bajaj Finance is a preferred choice:
- Efficient application process: Offers an online application process that is straightforward and fast, with approvals typically processed within 48 Hours* following document verification.
- Competitive interest rates: Features attractive interest rates starting as low as 7.99%* p.a., facilitating affordable monthly EMIs and effective financial management.
- Flexible repayment options: Allows customisation of the repayment plan with terms up to 32 years, helping buyers manage their finances better.
- Top-up loan for extra requirements: Provides a top-up loan option with minimal paperwork and competitive rates for additional needs like renovations or expansions, enhancing both functionality and appeal of properties.
Opting for Bajaj Finance for your home loan in Panchkula not only ensures access to flexible and cost-effective financing options but also guarantees a transparent and supportive process, helping you realise your dream of owning a home.
