What is RERA?
Real Estate Regulation Act is the law in India which governs the conduct of real estate business in India. Every state in India has its state specific law which provides for rules and regulations for undertaking the real estate business in that particular state.
RERA Registration
RERA registration is required for individuals and companies that buy, build or sell properties. This was brought out by the Government of India to improve the standards of transparency. It is crucial to consider this form of registration. Securing this form of registration is crucial, hence it is suitable to utilise expert third-party services for RERA. RERA regulation would not only apply to promoters of buildings and construction companies but also would apply to all other intermediaries in the real estate sector. Building Companies, developers, real estate agents and real estate intermediaries would be required to be compliant with Real Estate Regulation Authority.
Documents required for RERA Registration
For a Promoter or Company the following documents are required:
- Copy of the Memorandum of Association and Articles of Association
- Certificate of Incorporation of the Company
- Registered Business Address of the Business
- Email of the company
- PAN Card
- TAN Card
- CIN (Company Identification Number)
- Information related to prior real estate experience
- Information related to the directors and shareholders
- Any present real estate project.
An individual promoter or builder would require the following documents for RERA registration:
- Basic details
- PAN Card
- Income Tax Details
- Audited Balance Sheets
- Promoters Official Website
- Income Tax Return
- Previous Project Experience
Information and documents required for RERA registration of the Real Estate Agent:
- Basic details
- Digital Signature Certificate
- PAN Card
- Income Tax Details
- Audited Balance Sheets