Complete Guide to RERA Registration: Process, Documents, and Benefits

The Real Estate (Regulation and Development) Act, 2016 (RERA), has transformed the real estate industry in India by making it more transparent and reliable. One of its key features is the mandatory registration of projects and agents under RERA. This process ensures accountability and protects buyers from fraud and delays.

If you are a developer, agent, or homebuyer, understanding RERA approved properties and the registration process is crucial. Let us walk you through its process, required documents, and benefits.

What is RERA registration?

RERA registration is the process where developers and real estate agents register their projects or services with the state’s RERA authority. This registration ensures compliance with the Act and promotes fair practices in the real estate sector.

Who needs to register under RERA?

• Developers: All residential or commercial projects exceeding 500 square metres or more than eight apartments must be registered.
• Real estate agents: Agents selling or advertising RERA-registered projects must also register.

Step-by-step process for RERA registration for developers

1. Create an account: Visit your state’s RERA website and create an account. Each state has its own portal for RERA-related services.

2. Submit the application form: Fill out the RERA registration form with details about your project, including project layout, type, and financial estimates.

3. Upload required documents: Attach all necessary documents such as land title certificates, project plans, and financial statements.

4. Pay registration fee: Pay the registration fee online. Fees vary by state and project type.

5. Verification by authority: The RERA authority reviews the application. If all documents are in order, the project gets approved and registered.

6. Get registration certificate: Upon approval, you receive a unique registration number for the project. This number must be displayed in all promotional materials.

Step-by-step process for RERA registration for real-estate agents

1. Go to the MahaRERA website.

2. Click New Registration to create an account.

3. Select user type as "real estate agent".

4. Enter the required information.

5. Verify your email address to log in.

6. Log in to your account and fill out the agent registration form.

7. Upload the required documents.

8. Accept the declaration and pay the fee online.

9. After payment, you will receive an application number that you can use to track the status of your application.

10. After approval, you will receive a certificate of registration and a registration number.

11. You can download your certificate by logging into your account.

Documents required for RERA registration for developers

• Identification and address proof
• The promoter's PAN number.
• The promoter's email ID.
• The project's commencement certificate.
• The project's sanction plan.
• The project's layout plan.
• The project's location details.
• Legal documentation confirming the promoter's ownership of the land.
• Previous project experience
• Encumbrance certificate
• Audited balance sheets
• A copy of the Memorandum of Association and Article of Association.
• A certificate of incorporation of the company.
• Registered office address proof
• Company PAN card
• Company TAN card
• Company Identification Number

Documents required for RERA registration for agents

• PAN card
• Permanent address proof
• Business address proof:
• Income Tax Returns
• A recent photograph of yourself
• Registration information
• Self-certified copies
• Acknowledgement receipts
• No open criminal or civil cases declaration

Benefits of RERA registration

1. Legal protection for buyers: RERA ensures that registered projects follow strict guidelines. Developers are legally bound to deliver on time and as promised.

2. Transparency: Buyers can access detailed project information, including progress, approvals, and finances, on the RERA portal.

3. Timely delivery: With RERA compliance, developers must adhere to deadlines. Any delays result in penalties.

4. Trust in real estate transactions: RERA builds trust among buyers and investors by promoting accountability and fair practices.

5. Financial security: Funds collected for a project must be used solely for its development, reducing the risk of fund diversion.

6. Resolution of disputes: If buyers face issues like delayed possession or false promises, they can file a complaint with the RERA authority for quick redressal.

Why RERA registration is a must for homebuyers

When you buy a home in a RERA-registered project, you get:

• Clear timelines for possession
• Accurate project specifications
• Assurance of quality construction
• Refund or compensation in case of delays

If you are planning to purchase a property, always verify its RERA registration. It is a sign of a trustworthy developer who complies with the law.

Filing a complaint under RERA

If you encounter issues with a registered project, filing a complaint is simple:

1. Visit your state’s RERA portal.

2. Navigate to the complaint section.

3. Fill out the complaint form with project and developer details.

4. Attach supporting documents and pay the complaint fee.

5. Submit the form for review.

The RERA authority will address the issue promptly, ensuring buyer satisfaction.

How home loans support RERA-registered projects

Home loans make it easier to buy a RERA-compliant property. Since RERA ensures transparency and legal security, lenders are more likely to approve loans for these projects. By securing a home loan, you can finance your dream property without worrying about fraud or delays.

Explore Bajaj Housing Finance Home Loan

Are you eyeing a RERA-registered property? Bajaj Housing Finance offers home loans tailored to your needs. With competitive interest rates, flexible repayment options, and quick approvals, financing your dream home has never been easier.

With Bajaj Housing Finance, you can enjoy:

1. High loan amount: Secure a home loan of up to Rs. 15 crore* to bring your dream home to life.

2. Low interest rates: Enjoy interest rates starting 8.25%* p.a, and EMIs as low as Rs. 741/lakh*.

3. Quick approval: Get approved within 48 Hours* of applying – sometimes even sooner.

4. Flexible repayment tenure: Choose a repayment term of up to 32 years for comfortable EMIs.

5. Simple application: Take advantage of doorstep document collection for a smooth process.

6. Balance transfer facility: Move your existing home loan and get a top-up loan with better terms.

With Bajaj Housing Finance Home Loan, you can make your dream of owning a home come true.