HRERA/RERA Registration is mandatory and we make it simple for you!
HRERA (Haraya Real Estate Regulatory Authority) was established in 2017 with an aim of protecting the interest of buyers and promoting ethical transactions in the real estate markets.
Haryana RERA has two separate jurisdictions in Panchkula and Gurugram, and both these branches supervise the transactions done during the sale of plot, building, or apartment in their respective areas.
Haryana RERA is meant for sale and development of property, and it is not applicable on renting a property.
Documents Required For HRERA Registration
Builders and real estate agents are directly involved in selling properties, so it is mandatory for them to stay compliant with Haryana RERA.
Registering As A Developer or Builder
- Copy of license as well as the schedule of the land.
- Proof of ownership of the licensed area
- Name of the project and the name of authority under which it is enrolled
- Demarcation plans, layout plans, and approved zoning plans
- Documents relating to the entry of license and collaboration agreement in the revenue record.
- A complete set of the last approved building plans.
- Cash flow statement of the proposed project.
- Identity proofs of the developers or builders, such as Aadhar, Pan card, etc,
- Certificate from CA certifying that the information provided by the applicant in Form REP-I-CX is correct as per the books of Accounts/Balance Sheet of the applicant.
Registering As A Real Estate Agent
- Details of the real estate company including its name, type of company (whether it’s sole proprietorship, partnership, or private limited company, etc.)
- Name, Registered address, and contact details of the Real Estate Agency.
- Photograph of the owner or partners, or directors of the company.
- Proof of address of the company
- Details of registration would include the bye-laws to which the real estate company complies, articles of association, memorandum of association, etc.
Significant Benefits
Standardized Carpet Area
HRERA helps in eliminating the scope of malpractices in the real estate transactions by specifying the definition of Carpet area. Builders can calculate the price of the property as follows-
Cost of Property = Carpet Area x Rate per sq ft
Since the method for calculation of Carpet Area is defined clearly by RERA the developers cannot overcharge a property.
Right to Information About the Property
Haryana RERA acts in the favor of the home buyers, as the builder has to provide detailed information regarding the property such as plan of execution, plan layout, stages of completion, the status of competition, including the status of water and electricity connection, sanitation, etc.
Limitation on The Advance Payment
The buyer will not pay more than 10% of the cost of the apartment in advance, before the builder enters into an agreement of sale.
Builder Is Held Responsible For Defects Detected After Possession
Builder would be answerable for any defect in the quality, structure, workmanship, provision or service that is discovered within 5 years after the possession of the property, and the builder have to do cost-free rectification of such defects within 30 days. If he fails to do so, the buyer has the right to claim compensation for the same.
Fair compensation For Delay In Possession
In case the builder fails to complete the project on the due date, as promised by the builder, then buyer has the right to ask for full refund from him along with the interest payable from the due date of completion till the date on which the amount is refunded. If the buyer is still interested in the deal, he will have the right to demand compensation from the builder along with interest payable from the due date of completion of project till the completion of the project.
Grievance Redressal
Any grievance against the builder will be addressed by the Haryana RERA. In case the buyer is not satisfied with the order, he can file an appeal with the Appellate Tribunal where the grievance will be redressed within 60 days, and if it fails, it will record the reasons of such failure.
In case the builder appeals against HRERA to the Appellate Tribunal, then will have to pay at least 30% of the penality, or the total amount to the allottee along with the compensation and interest imposed on him, before the appeal is heard.
The Haryana Real Estate Appellate Tribunal ensures that the disputes between buyers and builders related to the Haryana RERA registered projects will be resolved within 120 days.
Penalties For Noncompliance With HRERA
- One has to face the penalties for non-compliance with the Haryana RERA Act, that recommends imprisonment that can be extended up to three years or a fine amounting to 10% of estimated cost of real estate project, or both.
- If a builder provides false information at the time of HRERA registration then he will be fined with 5% of the estimated cost of the real estate project.
- Contravention of the orders from HRERA is not permissible. In such cases, the builder has to pay the penalty for each day of default that may cumulatively extend upto 5% of the estimated cost of the real estate project.
- Ignoring the orders of Appellate Tribunal may result in 3 years of imprisonment, with or without fine that may range upto 5% of the estimated cost of the real estate project.
Our team has an in-depth understanding of the Haryana RERA Registration procedure, so let us do it for you!