Kerala RERA Rules

Kerala Real Estate (Regulation & Development) Rules, 2018

Kerala has notified the Kerala Real Estate (Regulation and Development) Rules 2018 on 18th June 2018 vide GO (P) No. 46/2018/LSGD and has constituted Kerala Real Estate Regulatory Authority on 5th October 2019.

Sri. P.H. Kurian IAS (Retd) has assumes charge as Chairman and Adv.Preetha P Menon has assumed charge as member.

Authority has started the series of awareness program to educate the Promoters/Builders/Real Estate Agents, Allottees/Home buyers/consumers and various stake holders.

Application, forms, affidavits etc are published in the Kerala RERA Website for registration of Real Estate Projects and Real Estate Agent and guidelines there on.

This note will help the reader to understand the Kerala RERA Rules, applicability for Registration real estate project, documents, information required to file application for grant of registration, extension, revocation.

Details

Details

Official Kerala RERA Website https://rera.kerala.gov.in/
Kerala RERA Office Address Swaraj Bhavan, 5th Floor,

Nanthancode, Kowdiar PO,

Thiruvananthapuram 695003

Email [email protected]
Filing of Application Manual Filing / Submission till webportal is ready
Authenticated Copy – Rule 2(‘C) of Kerala RERA Self-Attested copy of any document required to be provided

Registration of Real Estate Projects with Authority – Rule 3
Rule 3(1) Application in Form A – in Triplicate

For New Projects (means all Statutory Approvals and permits have been obtained on or after 1-5-2017)

Rule 3(2) Application in Form A 1 – in Triplicate

For Ongoing Projects (means Occupancy Certificate has not been issued as on 1-5-2017)

Registration Fee – Rule 3(4)

Note –

1) Project involving construction and sale of building, total registration fee = plot fee + buildings fee

2) Floor Area – as specified in permit issued by competent authority

1) By way of Demand Draft drawn on any scheduled Bank

2) Fee Amount is as per the Table –

Type of Project Rs. Per Sq Meters Fees payable On
Plots 10 Plot Area
Building – Ongoing Projects – Form A1 25 Total Floor Area
Building – New Projects – Form A 50
Building – Commercial or any other projects 100
List of Documents –

Rule 3(5)

1) All documents as per Sec 4(2)

2) Form B (Sec 4(2)(l) Clauses A to F)

Withdrawal of Application Rule 3(6) 1) Application for withdrawal shall made within 30 days of filing application for grant of registration

2) Authority will retain 10 % or Rs.50,000 whichever is more towards processing fees

3) Balance will be refundable within 30 days from such withdrawal

Rule 4 – Additional information and documents to be furnished – 1) PAN

2) Audited BS, ITR for preceding 3 years

3) No of Parking Available

4) Legal title Deed

5) Details of encumbrance on Project Land

6) Development Agreement / MOU

Rule 5 – Disclosure in case of Existing (ongoing) Project 1) All documents as prescribed in Rule and Act

2) Status of the Project and Extent of Completion

3) Sold details – Size of the apartment in Carpet Area

4) Sold details – area of plots

Rule – 6 Withdrawal of sums deposited in separate bank account – Sec 4(2)(l)(D) 1) Land cost – shall be cost incurred by the promoter (whether outright purchase / lease charges etc)

2) Construction Cost – cost incurred towards on-site and off-site expenditure for physical development of the project

Rule 7 – Grant of Registration of the Project 1) Registration Certificate in Form C

2) Rejection shall inform in Form D

(however 15 days or such time may be provided to rectify the defect application before rejection)

Rule 8 – Extension of registration of Project 1) Before expiry of 3 months prior to expiry of registration granted

2) Fees – 50 % of registration fees

3) Reason for such delay

4) Documents

5) Force majure – fees may be waived off

6) Extensions maximum of 1 year

Rule 9 – Revocation of registration

 

As per Sec 7 of the Act
Rule 10 – Agreement for Sale As per Annexure A
Rule 11 – Real Estate Agent Registration 1) All Documents

2) Application Form in Form G

3) Fees

a. Individual Rs.25,000

b. Non Individual Rs.2.00 Lacs

Rule 18 – Interest Rate, Timelines 1) SBI PLR + 2 %

2) Refund with in 45 days from the due date

Author is Chartered Accountant and Extensively practice on RERA since implementation of the Act.

for any clarifications you can write to [email protected] or call 9341246770

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Qualification: CA in Practice
Company: Venu & Vinay
Location: Bangaloe, Karnataka, IN
Member Since: 05 Sep 2018 | Total Posts: 20
CA Vinay Thyagaraj, practicing Professional in the area of Real Estate, Direct Taxation, business structuring apart from financial consultation. Practicing since 2 decades in Bengaluru, developed team of professionals to provide holistic and 360 Degree services to the clients. Living with parents, View Full Profile

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