The Real Estate (Regulation and Development) Act, 2016 or RERA was enacted to regulate the real estate sector and protect the interests of homebuyers. The act is applicable to all states in India, including Chhattisgarh. In this article, we will discuss the Chhattisgarh RERA registration process for real estate projects and its importance.
The Chhattisgarh Real Estate Regulatory Authority (RERA) was established in 2017 under the RERA act. It provides a platform for real estate developers and agents to register their projects and obtain a license to carry out real estate transactions.
The Chhattisgarh RERA registration process for real estate projects involves the following steps:
Step 1. Visit the Chhattisgarh RERA website (https://rera.cgstate.gov.in/) and click on the 'Promoter Registration' tab on the homepage.
Step 2. Fill in the required details, such as promoter's name, address, PAN, Aadhaar, contact details, project details, etc.
Step 3. Reference number
Step 4. Submit Promoter Member Details
Step 5. Submit Project Details
Step 6. Upload the necessary documents, such as project plan, layout, complete this
Step 7. Go to “Project Status” Section of the CG-RERA web-portal. and enter promoter reference number
Step 8. Your screen will display the project registration charge calculation. To pay the registration fees, please select "Click here to pay registration fees"
Once the application is submitted, it will be scrutinized by the authority. The Chhattisgarh RERA authority will then issue a registration number and a certificate of registration if the application is approved.
The Chhattisgarh RERA registration is mandatory for all real estate projects with a land area of more than 500 square meters or eight apartments. The registration certificate is valid for the duration of the project, and developers need to renew it before expiry.
Why Chhattisgarh RERA Registration is Crucial for Real Estate Projects?
As per the RERA Act, all real estate projects with land exceeding 500 square meters or more than eight apartments must register with the respective state RERA authority before launching or advertising the project. Failure to comply can result in penalties, fines, and legal action, which can severely impact the project's reputation and profitability.
Transparency and Accountability:
RERA registration requires developers to disclose all the project-related details, such as land title, project plan, layout, timeline, progress, etc., on the RERA website, which is accessible to the public. This promotes transparency and accountability and helps buyers and investors make informed decisions.
RERA mandates developers to adhere to the quality standards and specifications mentioned in the agreement, use only approved building materials, and get the project approved by the concerned authorities before completion. This ensures that the project meets the expected quality and safety standards and reduces the risk of disputes and complaints.
RERA registration mandates developers to maintain a separate bank account for each project, deposit at least 70% of the project's funds in it, and use them only for the project's construction and development. This protects the investors' interests and reduces the risk of fund diversion or project abandonment.
registering under the Chhattisgarh RERA is mandatory for all real estate developers and agents who wish to operate in the state. It provides protection to both the buyers and sellers of real estate properties by ensuring transparency and accountability in the sector. The registration process is simple and can be completed online through the official website of the Chhattisgarh RERA. It is important to note that failure to register can result in legal consequences, including fines and imprisonment. Therefore, it is highly recommended that all real estate developers and agents in Chhattisgarh comply with the RERA regulations and register their projects with the authority.
By following the guidelines mentioned in this article, real estate developers and agents can ensure that their projects are registered under the Chhattisgarh RERA in a timely and hassle-free manner. This will not only protect their interests but also enhance the credibility and transparency of the real estate sector in the state. So, if you are a real estate developer or agent operating in Chhattisgarh, make sure to register your projects with the Chhattisgarh RERA and contribute to the growth and development of the state's real estate sector.
Note: The information provided in this article about Chhattisgarh Real Estate Regulatory Authority is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.
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