The Rajasthan Real Estate Regulatory Authority has increased the fine for delay in registering the ongoing real estate projects by the developers.
Now, the developers have to pay 10% of the project cost as a fine for not registering their ongoing projects with the Rajasthan RERA by 30th September. Earlier, the developers were permitted to register their projects with the RERA after paying the RERA registration fee along with 2% of the project cost as a fine.
An official from RERA Rajasthan stated that most of the ongoing projects are registered with the authority within the given deadline and we hope that the developers will follow the rules prescribed by the RERA.
Vasundhara Raje, the Chief Minister of Rajasthan launched the Rajasthan RERA website on 1st June 2017, one month after the implementation of the RERA rules in Rajasthan. The government mandated the developers to register their ongoing projects with the RERA by July 31 which was further extended to August 31.
According to the RERA rules, builders cannot advertise or sell their ongoing or upcoming real estate projects without registering them with RERA after paying a RERA registration fee.
As per the rules, the developers have to pay Rs 5 per square meter if the area of land proposed to be developed does not exceed 1000 square meters and Rs 10 per square meter (up to Rs. 5 lakhs) if the area of land exceeds 1000 square meters in case of group housing project.
In case of mixed development, the RERA registration fee of Rs. 10 per square meter is applicable if the area of land proposed to be developed does not exceed 1000 meters and Rs 15 per square meter (up to up to Rs. 10 lakhs) if the area of land exceeds 1000 square meters.
If the real estate entity is bracketed under the commercial project, RERA registration fee of Rs. Rs 20 per square meter is applicable if the area of land proposed to be developed does not exceed 1000 square meters and Rs. 25 per square meter (capped up to Rs. 10 lakhs) if the area of land exceeds one thousand square meters. Whereas RERA registration fee of Rs 5 per square meter is (up to Rs 2 lakhs) is applicable in case plotted development of projects.
The developers can register their projects and can pay the registration fee online by visiting the official website of Rajasthan RERA.
APNA RERA has provided an integrated platform where develops can advertise their RERA registered projects and can reach potential buyers.
Click here to list your RERA registered projects at APNA RERA.