Is owning a new house your highly desired dream? Here is some Important Information you need to Know Before investing in a property in Gujarat.
In accordance with the RERA Act of 2016, the state of Gujarat established GUJRERA. The Real Estate Regulatory Authority Act [RERA] 2016 was enacted to create willingness and a code of conduct in the Indian real estate market. The government has established bodies in each state to implement the Act correctly. Gujarat RERA is an organisation or authority assigned to developing and regulating the state’s real estate sector.
The RERA’s establishment was a critical and significant decision that led to an essential change in the real estate sector. There is no doubt that the presence of this regulatory authority is an advantage within the real estate industry because it has effectively established an honest and inclusive real estate environment. Besides that, the Gujarat state government launched an act known as GujRERA in 2017 to gain buyers’ confidence.
What is RERA Gujarat and its Objective?
The primary purpose of the Real Estate Regulatory Authority Gujarat is to give dealers, and homebuyers access to a reliable, dependable, and sustainable environment. It primarily controls the real estate industry and restricts a variety of dishonest and unethical behaviour. It also decreases violations in the real estate industry. The Gujarat RERA is working efficiently to accomplish all of its objectives.
Gujarat’s housing sector is remarkable because it has transformed on an equal footing with the rest of the world. The growth of the Gujarat Municipal Corporation is higher than its legal limits. The enactment of RERA Gujarat, the development of necessary infrastructural services, and the development of the state as a famous commercial and business centre are the factors that have made a difference.
Gujarat RERA frequently develops innovative solutions that prioritise consumers and makes an effort to maintain strong relationships among stakeholders to accomplish its goals. A clean and evident real estate environment has been established because of this Act, which offered an efficient and trustworthy structure.
Functions of Gujarat RERA
The Gujarat RERA’s mission and objectives are:
- To create an environment-friendly, reliable, transparent, and safe regulatory framework for the real estate industry.
- The number of investors will be drawn to investing in a safe and open atmosphere.
- Purchase a reliable home that hasn’t been used in fraudulent situations.
- Buyer-friendly methods allow promoters to register themselves while homebuyers can quickly verify whether the developer is RERA registered.
- Check out the GujRERA page for any complaints about an immediate solution.
Gujarat RERA Guidelines & Regulations
Learning the RERA Gujarat rules and regulations is essential to prevent future problems. Misconduct and fraudulent activities are prohibited by the rules and laws that the Gujarat RERA Act implements.
- For buildings that fail to total more than 1000 square meters, buyers must pay a registration charge of INR 5 for each square meter. If the land size is more significant than 1000 sq m, the maximum is 10 rupees. The charge can go up to 5 lakh rupees.
- Property buyers must pay for only the carpet area. Super-built-up areas like balconies, lobbies, and staircases are not permitted to be charged for by contractors and developers.
- Registration cost for combined real estate projects is 10 rupees per square meter when the property’s area is below one thousand square meters. The registration cost is 15 rupees per sq. meter if the area is more significant than 1000 square meters. There is a ten lakh rupees restriction on the registration fee.
- The registration cost for commercial real estate ventures is 20 rupees per sq. meter for areas less than 1000 square meters. In addition, a registration cost of 25rupees per square meter will be paid for the land above. There is a ten lakh rupee restriction on the registration cost.
- The required registration cost for real estate projects with plots is 2 lakhs rupees.
- According to the Gujarat RERA Act, builders cannot charge more than 10%.
- They have to settle the matter within the allotted period, 120 days after the developer’s Gujarat RERA grievance was submitted against them.
- The person filing the request must pay 5% of Gujarat’s RERA registration costs, or 25,000 rupees, to cancel the application.
Procedure for Registration in Gujarat RERA
Use these steps to sign up for the Gujarat RERA Act:
- Visit the official website of the Gujarat RERA page.
- If you are a builder or developer, select “Project Registration”. If you work as a real estate agent, select “Agent Registration.”
- Before completing the online application, you must go through the checklists linked in the message window that will appear on your screen. Exit the message window after reviewing the list.
- Choose the Promoter Type, enter your email address, and press “Next.”
- You may have received an OTP on your email address.
- The registration procedure is then finished by completing the form and paying the fees.
Eligibility for Registration Under Gujarat RERA
The following promoters, builders, and property agents qualify to register themselves or their land according to the Gujarat RERA Act:
- Any developer/builder who constructs a residence or a structure
- Any developer or builder who reconstructs a present-day structure or structure intends to sell the completed project to customers.
- Anyone who transforms the undeveloped property into a structure to sell.
- When a building is constructed on property owned by the government by any public entity or authorised authority.
Registration of Promoter and Important Documents
- Suppose you choose “Project Registration” on the RERA Gujarat page. In that case, you will be taken to a new RERA Gujarat website where you must select the builder type: Individual, Society, business, Partnership Firm, Trust, Limited Liability Partnership, Governing Authority, or Hindu Undivided Family.
- On the RERA Gujarat website, you will be requested for your email address and mobile number. After you obtain the One Time Password, these will be verified.
- Complete the required fields on the GujRERA page.
After registering, a promoter can view QPR, complaints, notices, and judgments under the promoters category.
The proprietor must submit the following documents to Gujarat RERA to register:
- Company’s Registration Document
- Photograph Of The Promoter
- Picture Of The Project Leader
- Certification Of Project Accomplishment (Previous Projects)
- Architect’s License (Form 1)
- Noc (Form-1a)
- The Brief Audit Overview
- Acknowledgement Of A Tax Report
- Copy Of The Pan Certificate
- Certificate Of Obligation
- Proof Of Completion
- Construction Or Regulatory Plan Approval
- Approved Architectural Plan
- Agreement On Selling Performance
- Land Records
- Authorised Sector, Infrastructure Planning
- Areas Subject To Growth Strategy
- Form For A Distribution Notice
- The Project’s Latest Brochure
- All Authority-Issued Nocs
- Declaration (Form B)
- Performa Selling Agreement
- Picture Of The Project
- Project Description
- Certificate Of Title Approval
- Title Report Image (Floor, Wing, Structure)
- Engineer’s License (Form 2)
- A Ca Certification (Form 3)
- Chart Of Balances (For 3 Years)
- Statement Of Profits And Losses (For 3 Years)
- Reports From Directors (For 3 Years)
- The Flow Of Funds Statement (For 3 Years)
Documents for Agents
List of documentation that the agent must upload before submitting a “Project Application” online under Gujarat RERA:
- Describe your business briefly, which includes its name, registered location, and type (societies, partnerships, companies, proprietorships, etc.).
- Information regarding the Registration of a proprietorship, partnership, corporation, society, etc., including the articles and regulations of the organisation.
- If the agent is single, their name, phone number, location, and picture. Provide the names, contact information, addresses, and photographs of the partners, directors, etc., for a partnership form, business, or LLP.
- A copy of the PAN card
- A copy of your company’s location as evidence
Commonly Filed Grievances With Rera
The following are some of the frequent problems that buyers bring before the RERA authority or RERA decision-making officer:
- Ownership Of The Property Is Delayed.
- The Builder Won’t Issue The Money Back.
- No Refund For The Mentioned Delay
- Registration Delay
- Builders’ Pointless Interest
- Failure To Pay A Fine For A Delay, Etc.
Gujrera Online Portal
Here are some of GujRERA’s online platform’s primary features and advantages.
Applicants can register using the Gujarat RERA’s simple and fast registration process by giving their contact information, such as their name, phone number, and email account.
The portal provides a feature that makes it easy for users to find all relevant links on the main screen and quickly access the needed area. This allows them to save time and quickly discover the answers to their questions.
The homepage of the GujRERA platform has a separate area for the most recent information. The section offers the most current information on particular real estate initiatives.
The portal displays the quantity of registered and authorised projects. Users can view the overall investment generated, the total number of complaints handled, and the number of agents enrolled by viewing the online platform.
Procedure to File Complaint Under Gujarat RERA
Gujarat’s RERA platform has been established, and RERA grievances may now be submitted online. You should hire a professional to handle RERA complaints because the RERA Act is still relatively new and makes it difficult for nonprofessionals to submit complaints and obtain legal relief for their concerns.
- Access the Gujarat RERA page.
- Select the tab for complaint filing.
- A document will appear on the screen. Provide all required information about the concerns, along with the necessary paperwork.
- Complete the form and press the “submit” option.
- Pay the registration cost of Rs. 1000.
- After completing the form, you will receive an acknowledgement code.
- Kindly keep this number available. This will be maintained on file for later use.
All public and private organisations that create real estate initiatives for public sale are covered by the Act. The real estate industry is supposed to be governed, restructured, and organised by GUJRERA. RERA’s application in Gujarat has dramatically accelerated the resolution of issues for investors and homebuyers. Agents and developers also benefit because signing up for their projects with the Gujarat RERA platform is simple.
Gujarat’s Real Estate, Regulatory Authority Act, seeks to closely monitor the state’s real estate industry and protect consumers’ interests. The web portal answers questions regarding project/agent regulation, authorisation, and the filing or resolving complaints, among other topics.
How does one verify a project's status per the Gujarat RERA Act?
Go to Registration on the GujRERA official website to see the status of the Gujarat RERA projects. Choose the project or agent at this point. After that, enter the necessary information. The compiled list of Gujarat Real Estate Regulatory Authority projects will appear on the website.
What does Gujarat RERA Certificate refer to?
The RERA-registered developers or agents in Gujarat are issued RERA certificates, and a developer or agent with this license abides by all the guidelines established by RERA Gujarat.
What if the contractor disregards the RERA order?
According to section 64 of the RERA Act, disobeying an order issued by the RERA Appellate Tribunal is a crime with a penalty of up to three years in jail or a fine equal to 10 per cent of the estimated project’s cost in real estate.
How can I determine if the Gujarat RERA Act has filed my project?
On the authorised website of Gujarat RERA, click the registration tab, then choose the projects you’d like to access a summary of to view information about enrolled assignments.
Why did the real estate industry need a regulating law?
Although the real estate industry has expanded recently, it remains unsupervised regarding homebuyer protection. Despite consumer protection rules, their remedies are only remedial and not preventive. A lack of expertise and uniformity has impacted the sector’s possible overall development.