New costs hit Rajasthan builders! Plotting future takes a pricey turn from August 1.
Builders and real estate developers in Rajasthan will face increased registration fees for their plotted and commercial schemes under the Rajasthan Real Estate Regulatory Authority (RERA) starting August 1. The authority recently revised the registration charges, imposing a standard fee of Rs. 10 per square metre.
According to RERA rules, any project with nine or more plots on land exceeding 500 square metres must be registered under RERA. The current registration fee for residential plots is Rs. 5 per square metre, while for commercial, industrial, and mixed-use plots, it is also Rs. 5 per square metre. Now, the new standard fee will be added to the existing registration fee, making it Rs. 10 per square metre for commercial, industrial, and mixed-use plots and Rs. 5 per square metre for residential plots.
Notably, this standard fee will apply not only to schemes launched by private developers but also to those initiated by government agencies such as municipalities, Urban Improvement Trusts, development authorities, Rajasthan State Industrial Development and Investment Corporation, and housing boards.
The introduction of the standard fee comes as RERA aims to encourage serious developers in the state, given the recent surge in complaints within RERA’s limits, making it challenging to manage.
Additionally, the fee increase is expected to address the issue of unauthorised colonies, and in response, RERA will establish an office at the divisional level. Furthermore, RERA plans to implement a rule prohibiting issuing occupancy certificates for plotted colonies without RERA permission, thereby maintaining better control over the real estate sector.
The order issued by the RERA registrar will take effect from August 1, affecting all new plotted and commercial development projects in Rajasthan. The move streamlines the registration process, promotes transparency, and ensures the state’s efficient development of real estate projects.