Registration of Real Estate Project
Section 3 of the RERDA prohibits Sale or Marketing, etc of a Real Estate Project without registration with RERA
- No promoter shall
- advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner
- any plot, apartment or building, as the case may be, in any real estate project or part of it,
- in any planning area,
- without registering the real estate project with the Real Estate Regulatory Authority established under this Act
Initial Exemption for Ongoing projects at the commencement of the Act
First proviso to Section 3 states that Projects that are ongoing on the date of commencement of this Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within a period of three months from the date of commencement of this Act.
Inclusion of Projects outside Planning Area by RERA
Second proviso to Section 3 states that If the Authority thinks necessary, in the interest of allottees, for projects which are developed beyond the planning area but with the requisite permission of the local authority, it may, by order, direct the promoter of such project to register with the Authority, and the provisions of this Act or the rules and regulations made thereunder, shall apply to such projects from that stage of registration.
Exemptions from Registration of Real Estate Project
According to Section 3(2), No registration of the real estate project shall be required—
(a) where the area of land proposed to be developed does not exceed five hundred square meters or the number of apartments proposed to be developed does not exceed eight inclusive of all phases:
(b) where the promoter has received completion certificate for a real estate project prior to commencement of this Act;
(c) for the purpose of renovation or repair or re-development which does not involve marketing, advertising selling or new allotment of any apartment, plot or building, as the case may be, under the real estate project.
Withdrawal of Exemption from Registration of Real Estate Project in Clause (a) of Section 3(2)
If the appropriate Government considers it necessary, it may, reduce the threshold for exemption from registration under this Act below five hundred square meters or eight apartments, as the case may be, inclusive of all phases.