All You Need to Know about Gujarat RERA

Each one of us has a dream, a hope that keeps us going. We try hard to realize our dreams. We work hard, follow a drab and monotonous life to earn some money so that we can materialize our dreams. Some of us may have the dream to travel, while you will also find people who wish to sit quietly in a corner of his/her room and listen to his/her favorite music while sipping a cup of coffee. Whatever might be the dream, we need a space of our own at the end of the day. We all try to return to our home just like the birds return to their nests as the color of the sky turns orange. 

But what if the house that you want to buy is not having proper legal documents? What if you face problem while buying the house? What if your builder doesn’t keep his promise?

The property buyers have perpetually visaged these problems since historical past. So, the Parliament has passed the Estate Regulation and Development Act in 2016 with a promise to resolve the issues faced by the buyers. Beneath this act we’ve got the Estate Regulatory Authority (RERA) in each state to supervise the Real Estates.

Under the RERA Act, it is compulsory for the builders or developers to enlist their land venture which they want to sell, promote, market, book or buy. They are expected to make an application to the expert for enlistment. The Department of Gujarat Real Estate Regulatory Authority allows the RERA enrolment for the venture. It was passed in the month of May in 2017. Till date it has done its best to execute the functions that the mother act asks and permits it to do. In this article, we shall see the Gujarat RERA exhaustively.

Objectives of Gujarat RERA

The main objective of RERA Gujarat is to supply a, trustworthy, credible and sustainable surrounding both for the home buyers and the agents, developers, builders and the like. It preponderantly regulates the estate sector and tries to remove the deceitful activities. Gujarat Real Estate Regulatory Authority is moving at a quick pace to realize all its goals. Gujarat RERA turns up with innovative customer-oriented solutions and tries to maintain a good communication with the stakeholders too. In short, if you’re wanting to buy a RERA registered property, then get stress-free as you are about to make an investment in an exceedingly legitimate property that has license and all other legal documents.

Gujarat Real Estate Regulatory Authority aims to form Gujrat an area where there will be giant investment in Real Estates. To achieve this, RERA employs innovative client familiarized solutions, glorious communication practices with stakeholders, and best service delivery techniques through skilled staffs.

Eligibility for Applying to Gujarat RERA

Anyone of the following can apply for RERA in Gujarat:

1. An individual who wants to build his own structure or wants to reshape the structure into smaller apartments.
2. Any person whosoever wants to develop a project to sell the same to other persons.
3. Plots claimed by improvement authority or which are made available to them by the government authority to sell the lofts.
4. An individual who calls himself to be a builder, developer, contractor, etc or claims to hold the power of attorney from the owner of the building or land on which construction is being done.
5. A state-level agreeable lodging finance society that develops the condos or structures for its individuals or to any allottee.  

Steps for Registration

• After opening the official website of Gujrat RERA, you have to click on “Project Registration” 
• Select the “Promoter type” 
• Enter your email address
• Click on “Next”
• You will receive an OTP. You need to enter it in the required place to proceed further
• Fill up the required details of the form
• You will have to make online payment after you submit the form. You will be automatically redirected to the page of payment 

Documents to be Provided

1. The name, address, and type (company, societies, etc.) of the project
2. Specifics of enrolment including the notice of affiliation, bye-laws, articles of affiliation, and so on
3. Personal details of the Real Estate agent; like, name, address, phone number, etc.
4. Address proof (self-attested)
5. PAN card of the agent (self-attested)
6. Last 3 years ITR

If the builder of developer is registering as one individual, then he needs to make a payment of Rs. 10,000. However, if the registration is being done by a group of people, then the payment is Rs. 50,000.

Advantages of Gujarat RERA

1. The customer or the buyer can file a complaint if the builder or developer doesn’t fulfil his promise
2. The buyers can claim any kind of information regarding the property that he/she intends to buy
3. The builder or the agent can lodge a complaint if the buyer fails to make payment in the stipulated time
4. The Real Estate agent can also renew his registration from the official website
5. The cases of fraud are minimised 

In Summary

Investment on any property is a big thing. You should always try to be a little cautious while doing so. However, the government has also brought up strategies like RERA so that you hardly face any problem while you make an investment in Real Estates.

On the other hand, your investment will also benefit others in the long run, as we know that human beings are dependent on each other, directly or indirectly. This article has tried to supply some basic details regarding Gujrat RERA.

Nevertheless, if you continue to have any confusion or question regarding Gujrat RERA, definitely drop a mail at info@roodland.com. Roodland India maintains a dedicated team to answer all of your queries and assist you in each matter.

For a lot of such articles involving Real Estates, kindly subscribe to The Real Talks platform. You’ll notice lots of articles that may enrich your view on real estates.

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