The government of Uttar Pradesh has notified the UP Real Estate (Regulation & Development) Act (RERA) on 29 October 2016. Counting to regulate the real estate sector in the state, this disciplinary law mandates all the real estate developers to register their ongoing projects and real estate agents to register themselves with the UP RERA.
In this blog we will let you know about the nominal fee prescribed the state government for registering with the UP RERA .
To conduct the real estate business, a developer shall pay a registration fee while applying for registration of his project with the RERA authority. He/she can pay the registration fee by filling up “Form A” along with a demand draft or a bankers cheque drawn on any nationalized bank or a Co-operative Bank or through online payment mode.
Rs 10 per square meter - For projects where the area of land proposed to be developed do not exceed 1000 meters.
Rs 500 per 100 square meter - For projects where the area of land proposed to be developed exceeds 1000 square meters. (As mentioned in RERA Uttar Pradesh notification)
Rs 20 per square meter - For projects where the area of land proposed to be developed does not exceed 1000 square meters
Rs 1000 per 100 square meter – For projects where the area of land proposed to be developed exceeds one thousand square meters.
A developer can apply for the time extension for the completion of his real estate project by filling up “Form E”. He has to pay an amount equivalent to twice the registration fees as prescribed under sub-rule (3) of rule 3 along with an explanatory note setting out the reasons for delay in the completion of the project. He/she can pay the registration fee using demand draft or a banker’s cheque drawn on any nationalized bank or a Co-operative Bank or through online payment mode.
In case the promoter applies for withdrawal of application for registration of the project before the expiry of the period of thirty days specified under sub-section (1) of section 5, a processing fee to the extent of 10% or Rs. 50,000 whichever is more, will be deducted from the project registration fee paid by the developer and the remaining amount will be refunded to the promoter within thirty days from the date of such withdrawal.
The real estate agent have to register with the RERA by filling up “Form G” The applicant has to pay a sum of Rs 25,000 in case of the being an individual or sum of Rs. 2,50,000 in case the applicant other than an individual. The applicant can pay the RERA registration fee using a demand draft or a banker’s cheque drawn on any nationalized Bank or a co-operative Bank or through online payment.
Real Estate agent/s can renew their registration by filling up and submitting the application for renewal of registration “Form J” along with a demand draft or a banker’s cheque drawn on any nationalized Bank or a co-operative Bank or through online payment to the authority. The applicant has to pay a sum of Rs 5000 in case of the being an individual or sum of Rs 25000 in cases the applicant other than an individual.
Click here to list your RERA Registered Project at Apna RERA
Click here to see the enquiries from property seekers for RERA Registered Projects in UP
The Real Estate (Regulation & Development Act) popularly known as RERA came into effect on 1st May 2016 after the government of India sought to promote discipline and transparency in the real estate sector of the country.
We all have heard a proverb “Tit for Tat” but it seems that this is not true when it comes to the RERA.
We couldn’t be more excited to announce the recommencement of the “Campaign for RERA Awareness in India (CRAI)”, our nation-wide effort to bring awareness about the Real Estate (Regulation and Development) Act , 2016 (RERA) and revolutionize the country’s perception of the Indian Real Estate Industry.