The real estate developers in Rajasthan got an extension for registering their projects with the Rajasthan Real Estate Regulatory Authority . As per the sources, the builders can now register their on-going projects with the Authority till 31st August 2017.
The extension is followed by the increase in the fee for RERA registration .
According to an official earlier fee for registering an on-going project was Rs 10 per square meter which is now increased to Rs. 40 per square meter. In case the developer fails to register his project within the extended deadline, he has to pay a fee which will be ten times the current registration fee.
The government has extended the deadline because the provision adopted for the implementation of RERA was not suitable for Rajasthan, said a Jaipur based developer. Also, the state government delayed the launch of the RERA website by one month. Due to the failure of the government the developers were not able to register their projects, he added.
Rajasthan is one of the few states to launch a fully functional online portal for its RERA. The state government made it mandatory for the real estate developers to register their on-going projects with the RERA.