UP Real Estate (Regulation and Development) Act 2016 (RERA) Compliances

RERA- Overview (Dates)

• Applicability – Whole of India except state of J & K
• RERA Bill- introduced in Raja Sabha in 2013
• Raj Sabha Select committee-submitted its report in July 2015
• Rajya Sabha- Passed on 10.03.2016
• Lok Sabha- Passed on 15.03.2016
• Hon’ble President- assented on 25.03.2016 [ ACT 16 of 2016]
• Published in Official Gazette- on 26.03.2016
• Notified sections – w.e.f. 01.05.2016- sec 2, 20 to 39, 41 to 58, 71 to 78 and 81 to 92
• Making Rule <6 months- by 31.10.2016
• Establishment of RERA- by 30.04.2017
• Up RERA Rule- on 27.10.2016
• Registration under UPRERA- between 01.05.2017 to 31.07.2017 (3 months)
• UP RERA Website- launched on 26.07.2017

UP RERA Offices /Helpline

UP RERA office address;

First Floor, Janpath Market, Hazratganj, Lucknow Uttar Pradesh ,E-mail: contactuprera@gmail.com,

www.up-rera.in/index

6 J.C.BOSE MARG, LALBAGH,LUCKNOW, Uttar Pradesh

UP RERA HELPLINE Timing: 10:00 AM – 06:00 PM ( Mon to Fri )

For Technical 7318000875 , 0522-2202073

For Complaint 0522-2202079

For Project 0522-2202072

UP RERA Compliances- Quarterly

Creation of Web Page (Chapter II,Sec-5 (1) (a))

– On site of RERA after receiving login ID & Password

– Share details of Proposed project for public viewing.

Quarterly Updates(Chapter III, Sec-11 (1), Rule-14(1))

(a) details of registration granted by Authority (rule 14(1)(b)(i)(C)

(b) Bookings No. & Types of Flats/Apartments/Plots, (rule 14(1)(d)(i)

(c) List of Garage (Parking) booked (rule 14(1)(d)(ii)

(d) List of Approvals taken & Pending subsequent to commencement certificates (rule 14(1)(d)(iv)

(e) Status of Projects- (rule 14(1)(d)(iv) (additionally may be CA Cert, Architect & Engineer Cert)

(f) such other as specified by regulation

UP RERA Compliances

♦ Mention (Chapter III, Sec-11 (2))

In Advertisement / Prospectus mention the website address of the authority, wherein all details of registered project entered and registration no obtained from authority and other matters incidental thereto .

♦ Display (Chapter III, Sec-11 (3))

At the time of booking and issue of allotment letter ,make available to allottee;

(a) approved Sanctioned plan, layout plan with specification by display at site

(b) Stage wise time schedule of completion of project including civil infrastructure like water, sanitation & electricity

UP RERA Compliances – Annual

♦ Annually reports (Chapter II, Sec-4(2)(l)(D))..3rd proviso;

– Get his accounts audited within 6 months after end of every F/year by Chartered Accountant (CA) in practice, and

– Produce a statement of Accounts duly certified & signed by such CA, and

– Verified during audit that amounts collected for a particular project have been utilized for that project, and

– Withdrawal has been in compliance with proportion to the % of completion of Project.

UP RERA Compliances- Transfer of Title

Registered Conveyance Deed (Chapter III, Sec-17(1);

– along with undivided proportionate title in common area,

– handover physical possession of Apartment to allottee and common area to association….as per sanctioned plans..[in absence of local law, conveyance deed carried out < 3 months from date of issue of OC]

– After OC and handing over physical possession to allottee / association ….handover the necessary docs /plans to the association as per local laws…[ in absence of local laws <30 days after obtaining OC]

UPRERA Compliances- Publish on Website of Authority Chapter IV, Rule-14(1)(a)

(1)(a) Details of PROMOTER (Chapter IV, Rule-14(1)(a);

(i) Group Profile / Developer;

(A) brief of his enterprises– name, registered address, type of enterprises, particulars of registration. (parent entity details in case of newly registered / incorporated entity)

(B) background of promoter-education, work experience (parent entity in case of newly..)

(ii) Track record of Promoter;

(A)/(B) Experience- No. of yrs of promoter / parent entity in UP , other states or UT

(C) /(D) Projects Completed / Ongoing – No. and area constructed, proposed area to construct

(E) Projects Completed / Ongoing-details & profile for last 5 yrs (sec 4(2)(b)

(iii) Litigation ; past / present in real estate project

(iv) Website ; web link to developer or group website, project website

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(1)(b)

(1)(b) Details of Real Estate Project (Chapter IV, Rule-14(1)(b);

(i) Compliance and registration;

(A) approvals and commencement cert. from competent authority (sec-4(2)(c)

(B) sanctioned plan, layout plan, phase, specification of project (sec-4(2)(d)

(C) details of registration granted by Authority

(ii) Apartment and garage;

(A) No., type, carpet area of apartment for SALE in project (sec-4(2)(h)

(B) No., areas of garages /closed parking for SALE in project (sec-4(2)(i)

(C) No. of open parking areas in real estate project

(iii) Registered Agents ; Name, address (sec-4(2)(j)

(iv) Consultants details ; name, address of firm, name of promoters, year of establishment, names & profile of key projects completed of Contractors, Architects, Structural engineers, others concerned for development of project (sec-4(2)(k)

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(1)(b) /(c)

(v) Location ; details of project Name, clear demarcation of Land, boundaries , Latitude , longitude of end points of the project (sec-4(2)(f)

(vi) Development plan ;

(A) plan of development to be executed, proposed facilities to be provided including fire-fighting, drinking water, emergency evacuation, use of renewable energy(sec-4(2)(e))

(B) Amenities ; access to the project, design for electric supply including street lighting, water supply arrangements, site for disposal, treatment of storm and sullage water, or public health services proposed to be provided.

(C) Gantt Charts and Project schedule; plan of development works to be executed and and proposed facilities to be provided thereof

♦ (1)(c) Financials of promoter (Chapter IV, Rule-14(1)(c);

(i) Pan card copy authenticated of promoter,

(ii) audited BS of promoter for preceding FY, ITR for 3 preceding FY , in case of newly entity-annual returns of last 3 Fyr of PARENT entity

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(1)(d)

♦ (1)(d) UPLOAD the following updates on Webpage for the project < 7 days after each Qtr (Chapter IV, Rule-14(1)(d) / Sec 11 (1);

(i) Booked No. & Types of Flats/Apartments/Plots,

(ii) Booked No. of garages / closed parking,

(iii) status of project;

(A) Construction of each building with Photographs

(B) Construction of each floor with Photographs

(C) Construction of each internal Infrastructure & common areas with Photographs

(iv) status of approvals; Received , applied & expected date of receipt, to be applied & date planned for application, Modifications, amendment, revisions issued by competent authority as to license, permit / approval for the project

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(1)(e)

(1)(e) DOWNOLDS Approvals (Chapter IV, Rule-14(1)(e);

(A) NOC-CTE/CTO, EC,Fire,permission from water & sewerage deptt, height from AAI, others

(B) License, Land USE permission, building sanction plan, commencement cert. from competent authority, phases wise if proposed to be developed in phases.

(C) Site plan, site map showing location of project land along with names of revenue villages, khasra numbers and area of each parcels / lease plan if applicable.

(D) Layout plan of project /phase /whole project sanctioned.,

(E) Floor Plan-tower, block, club house, amenities and common areas.

(F) Other permission if any, (G) OC /CC including its application

Legal Documents;

(A) Proforma-Application form, Allotment letter, Agreement for sale and conveyance deed,

(B) Legal title deed, legally valid document if such land owned by another person,

(C) Land title search report from advocate > 10 yrs experiences in land matters

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(1)(e)/(f)/(g) /(14)(2)

(D) Details of Encumbrances on land including any rights, title, interest, or name of any party in or over such land along with details or No encumbrance cert. from advocate>10yrs ….

(E) If land owner is different-consent of land owner with coll. agreement, development agreement, joint development agreement , any other and copies of title & other docs….

(F) Consent letters; from bank for construction finance, for home loan tie-ups.

♦ (1)(f) Contact details ; contact -address, no. email ids of promoter & other officials handling the project

♦ (1)(g) Contact details ; other docs /information as per Act /rules/regulations

♦ (2) Regulatory Authority Rule-14(2) /sec-34(c)– maintain a database & ensure that information shall be made available on its website each project Revoked /penalized

UPRERA Compliances-Publish on Website of Authority Chapter IV, Rule-14(3)/(4)

Real Estate Agent (Rule-14(3) / sec-34(d)) – regulatory authority ensure that following information shall be made available on its website ..of each real estate agent registered /application for registration rejected / revoked;

(a) (i) Registration-No. and validity

(ii) His enterprises-name, registered address,type

(iii) Particulars of registration-including bye-laws, MOA, AOA

(iv) Photograph-Individual /partners /directors etc.

(v) Pan card copy, (vi) ITRs >3 Yrs, if exempt then declaration

(vi) address proof of place of business, contact no.,email ids & other officials responsible

(b) Rejected /Revoked regn- same as mentioned supra (a)(i), (ii), and (iv)

(c) Other docs / information as specified..

♦ (4) Regulatory Authority Rule-14(4); Authority maintain Back-up in digital form of its website…and such back-up updated on last day of each month.

Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. Author does not intend to advertise its services through this insight, and not responsible for any error or omission in this insight or for any action taken based on its contents.

(Author can be reached at +91 8802253937, maha_prsd@yahoo.co.in, camsprasad@gmail.com)