#RERA Registration

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RERA Registration With Tax and Services: A Complete Guide for Real Estate Developers

Tax and Services, we focus on supporting real estate developers with RERA registration, providing a variety of services to ensure a seamless and efficient process. By partnering with Tax and Services, you benefit from expert advice, document management, and compliance assistance, helping your project stay on schedule and fully compliant with legal requirements.

[acquisory]

RERA Implementation — How Effective

The Ministry of Housing and Urban Poverty Alleviation wherein the government has notified the major sections of Real Estate (Regulation and Development) Act, 2016 (RERA) which shall come into force w.e.f. 1st May, 2017. While the deadline for the RERA implementation is almost there, many of the State Governments are still under the process to notify their versions of rules and bring in legislation for the same. Implementation of RERA is important as it is seen that regulators play a key role in removing unscrupulous players, promoting fair and healthy competition and instill confidence in buyers, all of which ensure the growth of real estate.

“The much-awaited Real Estate Act has come into force from May 1st, 2017 but only 13 states and Union Territories have so far notified rules under the Act. The Real Estate (Regulation and Development) Bill, 2016 was passed by Parliament in March last year and all the 92 sections of the Act come into effect from May 1. ”

All sections in the Act have now been notified and states can now appoint both the regulatory and the appellate authorities. While the deadline was on May 01, only a handful of states have so far notified their versions of RERA. The main intention behind RERA is to increase transparency and bring in standardization into real estate industry and amongst various stakeholders including buyers, developers, brokers and investors.

Benefits under RERA

– RERA will make it mandatory for all commercial and residential real estate projects where the land area is over 500 sq. mt or eight apartments to be registered with the regulator before launching of these projects. Under RERA, builders and agents will have to register themselves with the regulator

– Developers will be able to sell projects only after the necessary clearances are obtained.

– To enable informed decisions by buyers, Real Estate Regulatory Authorities will ensure publication on their websites information relating to profile and track record of promoters, details of litigations, advertisement and prospectus issued about the project, details of apartments, plots and garages, registered agents and consultants, development plan, financial details of the promoters, status of approvals and projects etc.

– RERA seeks to impose strict regulations on the promoter and ensure that construction is completed on time.

– More clarity provided for Carpet Area. It has now been clearly defined in the bill to include usable spaces like kitchen and toilets.

– Developer to put 70% of the money collected from…

Read more: https://www.acquisory.com/ArticleDetails/48/RERA-Implementation-%E2%80%93-How-Effective

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Understanding RERA and its Impact on Plot Developers.

Chennai as a bustling metro is exuding immense potential for growth in the real estate sector offering a plethora of options for those looking to buy plots in Chennai in the residential and commercial segments. Most buyers get carried away by the excellent location, striking property designs, and competitive prices. So, as much as they research on the reputation of the land promoters in Chennai, it is also wise to shortlist RERA approved plots in Chennai. Buying a property is a big milestone for most of us, and so are the risks involved therein. So, the buyer needs to ensure that the real estate promoters are RERA certified so that their investments do not fall into the wrong hands. This blog will brief the what and why of purchasing RERA approved plots.

Know the basics of RERA.

RERA (Real Estate Regulatory Authority) was established in March 2016 as a regulatory certificate, to monitor the land promoters in the Chennai market to ensure transparency and accountability in all their real estate dealings. These RERA approved projects will be certified with a unique registration number to avoid mishandling by the buyers or plot developers. The act ensures that no developer, builder, or property dealer can book, sell, or advertise properties without a RERA certificate.

The certificate will hold important property details like a copy of the title deed, financial statements, layout plans, and unique registration number. Further, to avoid any kind of malpractices & to protect the interest of the buyers, the RERA norms monitor the practices of the real estate plots for sale in Chennai, laying down the guidelines to be followed by all builders & developers.

RERA norms to protect the buyer’s rights.

RERA has laid a regularisation of the carpet area, so land promoters in Chennai cannot show escalated areas and increase prices. Further, for plots with carpet areas over 500 sq. mtrs, the builders have to register it under RERA.

All real estate projects must be mandatorily registered with RERA and the land promoters must deposit 70% of the funds in a separate escrow account & carry proof for the same.

Advance payments by buyers to builders need not be more than 10% to ensure the former gets enough time to pool funds.

The buyer will know the project’s phase-wise details until the completion status, from the unique registration number.

Any quality/structure defect reported within five years of possession must be rectified within 30 days, by the builder at his own cost

In the event of delayed buyer payment or building hand-over both the buyer and the promoter, as required by RERA need to pay the same interest amount.

The project terms & plans can be altered only with the buyer’s consent and in case of any discrepancy, the buyer can refuse the property & demand a refund of the full amount.

For any disputes or complaints with the real estate plots dealer, the buyer can file with RERA & they can further raise it with the ‘Appellate Tribunal’ if dissatisfied with RERA’s decision

Irrefutable benefits of RERA approved plots.

It is well known that the residential/commercial plots for sale in Chennai or construction projects cannot be booked, promoted, or sold without a RERA certificate. Because this certificate is issued only after the authorities authenticate that the norms have been duly followed by the respective land promoters in Chennai. The key benefits of the RERA approved plots include the following:

RERA validates & approves the credibility of the builder.

The builders, developers, & promoters are bound by RERA’s norms so the chances of malpractices are avoided.

RERA protects the rights & interests of the buyers and lays a sense of responsibility for the promoter or builder.

Certifies transparency of the project details using the RERA unique registered number.

By launching a standardized pan-India model, both the buyer & developer will be able to access the RERA Complaint tribunal.

How does Elephantine Enterprises follow the RERA guidelines?

Elephantine has been one of the prestigious land promoters in Chennai for over 12 years and pioneered in designing & implementing new benchmarks in all of its residential, commercial, and industrial projects, by duly adhering to the norms & guidelines of RERA.

The company has redefined the chronicles of the real estate landscape in Chennai by fashioning friendly living communities & empowering its clients with personalized services.

To achieve this level of excellence, Elephantine integrates state-of-the-art amenities, technologies, & designs prioritising the well-being & satisfaction of its clients. As an exemplary land aggregator, promoter, developer, and builder, Elephantine makes sure its projects are a reflection of their pillar values, which are integrity & transparency, and an innovative & trustable approach. A few of its noteworthy value-added services for its RERA approved plots are:

End-to-end support to monitor the project progress & handle the legal paperwork.

Due Diligence and obtaining no-dues certificates.

Diligent land Surveying and Mapping for all their clients

Financial Advisory & Risk Assessment.

Market Research & Project Management services.

Elephantine as a top real estate player, has maintained customer-centric relationships, by adhering to prudent and expert practices. Visit the company site to learn about their exemplary projects.

[corpbizlegal]

In India, developers and agents of real estate are required to register with the Real Estate Regulatory Authority (RERA) as per the Real Estate (Regulation and Development) Act of 2016. Improving accountability, efficiency, and openness in the real estate industry is the main goal of RERA. To get RERA registration, contact with our Legal Advisor at Corpbiz.

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UP RERA: Training and certification

A significant step in the direction of professionalizing Uttar Pradesh's real estate sector is the UP-RERA-mandated training and certification program.

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What are the Documents Required for RERA Registration in Maharashtra?

Explore the essential documents needed for RERA registration in Maharashtra, crucial for builders and agents. This overview delves into the significance of compliance, transparency benefits, and the process's impact on the real estate sector.

[finowings-lucknow]

Why RERA Act is Important for India?

On May 1, 2016, the Indian Parliament created the Real Estate (Regulation and Development) Act, 2016, generally known as RERA. This Act was created to protect home buyers' to regulate India's real estate industry.

RERA is significant for India because it offers a framework for regulating the formerly uncontrolled real estate market. By informing home buyers about the project, the developer, and their rights, the Act also safeguards their interests. RERA also offers a method for settling conflicts between purchasers and developers and guarantees that developers execute projects on time and within budget. Home buyers and developers alike have embraced RERA.

Home buyers are now in a position to make well-informed about which projects to invest in, and developers are also governed by a set of guidelines that will enable them to finish projects on schedule and on budget.

On the real estate market in India, RERA's adoption has had a favourable effect. Property buyers are becoming larger, and there have been more new developments created. Investor trust has increased as a result of the sector's increased transparency and regulation.

Considering how recent it is, RERA is still a work in progress. On India's real estate market, nevertheless, it has already had a favourable effect. In the years to come, it's anticipated that RERA will continue to have a significant impact on the sector's growth.

Read More About RERA Act https://www.finowings.com/Finance/rera-act

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RERA project registration promotes transparency by standardizing project information and making it easily accessible to homebuyers. This enables informed decision-making and protects their interests in the real estate sector.

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A Real Estate agent’s Registration Certificate under RERA is typically valid for a period of 5 years, subject to the regulations of the specific state in which the agent is registered. The certificate may expire upon the death of the Real Estate agent or in the case of voluntary surrender. If the agent fails to apply for renewal within 60 days of the previous certificate’s expiration date, it will also expire.

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What is Real Estate Regulatory Authority & Registration Procedure?

R.E.R.A: Real Estate Regulatory Authority is the full form of R.E.R.A. Implemented in the year 2017 on 1st May, for managing the real estate sector of Indian with a strict hand. It implemented across the country to save the investing environment for interested investors. The real estate industry of India is that the victim of malpractices, which hurt the investor’s health.

To Know Salient features & Key provisions of RERA, Click on Link Below.

What is Real Estate Regulatory Authority & Registration Procedure?

[yourlegalconsultant]

Secretarial Audit Impact Compliance in Tax Filing

The importance of maintaining compliance in tax filing cannot be overstated, particularly when businesses are under scrutiny from regulatory bodies. Among the key aspects of ensuring compliance, secretarial audits play a significant role. These audits ensure that the company adheres to the relevant laws, policies, and regulations. Read: https://toastul.com/real-estate/secretarial-audit-impact-compliance-in-tax-filing/

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Record-Breaking Real Estate Deals in India

India’s real estate sector witnessed record-breaking real estate deals in the July-September quarter of 2024, signaling its resilience amidst economic challenges. The latest report from Grant Thornton Bharat highlighted 25 deals worth $1.3 billion during the period, marking an all-time high in deal numbers. However, despite this surge in record-breaking real estate activity, there was a notable drop in deal value compared to previous quarters.

Breaking Down Q3 2024: Trends and Key Drivers

The sector recorded a 5% increase in deal volumes from Q2 2024, and a significant 54% rise compared to Q3 2023. Investors’ confidence in the realty sector in India remains strong, even though the average deal size fell due to smaller, diversified investments in residential and commercial real estate. This trend reflects a shift toward strategic investments, showing adaptability in the face of economic challenges.

An important trend driving this activity is the rise of real estate technology companies (proptech) and their role in attracting investor interest. With the integration of digital tools, the real estate industry is evolving, creating new opportunities for investment and improving market transparency.

The Role of Qualified Institutional Placements (QIPs)

One of the major forces behind the uptick in deal volumes has been the surge in qualified institutional placements (QIPs). During Q3 2024, QIPs raised $940 million, almost six times the amount from the previous quarter. This increase demonstrates the growing reliance on public markets by real estate companies, reflecting their confidence in institutional capital.

QIPs have emerged as a critical funding source, helping firms meet regulatory standards and improve market visibility. The real estate sector’s embrace of QIPs not only signals growing investor interest but also points to greater transparency and accountability, further attracting institutional investors.

Private Equity and M&A: A Steady Presence

Private equity (PE) and mergers & acquisitions (M&A) have maintained a steady flow of activity, even with the overall value of deals seeing a 71% drop compared to Q2 2024. Q3 saw 12 PE deals totaling $401 million, highlighting sustained interest in the sector despite lower valuations. Interestingly, the top two PE deals alone accounted for $346 million, reflecting a concentration of value in a few high-profile transactions.

The focus of these deals has largely been in urban areas and key commercial hubs, where the demand for premium real estate remains high. Furthermore, outbound deals—primarily involving student housing and online rental platforms—indicate that Indian real estate firms are increasingly exploring international markets.

Looking Forward: Future Prospects for Indian Real Estate

As we approach the final quarter of 2024, the Indian real estate market appears poised for continued growth. Investor confidence, combined with the rise of new financial instruments like QIPs and the steady involvement of private equity, is expected to drive further momentum. The increasing role of real estate technology is another factor likely to shape the future of the industry, as more companies adopt digital solutions to enhance operations and attract investment.

The market’s adaptation to regulatory frameworks and its focus on transparency will likely make real estate an even more attractive option for institutional investors. As more firms turn to public markets, the sector’s credibility and attractiveness to foreign investors will continue to improve.

What This Means for Investors

For those considering entering India’s real estate market, the latest data offers valuable insights. The increase in deal volumes indicates that there are numerous opportunities for both small-scale and large-scale investments. Whether through private equity, M&A, or QIPs, the sector provides diverse entry points for investors with varying levels of risk tolerance.

Additionally, the rise of proptech—technology-driven real estate solutions—offers a new area for growth. Investors should keep an eye on companies that are leveraging digital tools to modernize the buying, selling, and management of properties, as these businesses are likely to play a key role in the sector’s future.

Conclusion

The Indian real estate sector’s resilience in Q3 2024, reflected in its record deal volumes, underscores its strength even amid fluctuating values. With the continued support of institutional investors through QIPs and sustained private equity interest, the sector is well-positioned for future growth. Investors should watch for emerging trends, especially the rise of real estate technology and public market participation, to seize the opportunities that lie ahead.