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VALIDITY OF REGISTRATION UNDER RERA


 

What is the tenure or validity of registration under Real Estate Regulatory Authority (RERA)

The tenure or validity of registration under the Real Estate Regulatory Authority (RERA) depends on the specific provisions outlined in the respective state's RERA regulations. While I can provide a general understanding, it's important to refer to the specific rules and regulations of the concerned state for accurate and up-to-date information. Here are some key points regarding the tenure or validity of registration under RERA:

1.    Registration Duration: RERA requires developers to register their real estate projects with the respective state's regulatory authority before advertising, marketing, or selling any units in the project. The registration duration is generally linked to the timeline of the project.

2.    Validity Period: The validity period of registration is typically defined by the state's RERA regulations and can vary between different states. It is generally aligned with the estimated timeline required for completion and delivery of the project. The validity period ensures that developers complete the project within a reasonable timeframe.

3.    Extension of Registration: In certain cases, if the project is not completed within the initial validity period, developers may be eligible to apply for an extension of the registration. The conditions and process for extension vary between states and may involve providing justifiable reasons for the delay and paying the applicable fees.

4.    Maintenance of Ongoing Projects: RERA registration is primarily required for ongoing and under-construction projects. Once the project is completed and all units are handed over to the buyers, the registration may no longer be applicable as the project is considered complete.

It's important to note that the specific tenure or validity of registration may vary between different states' RERA regulations. Each state has the authority to determine the duration and conditions of registration. Therefore, it is advisable to refer to the RERA rules and regulations of the specific state to obtain accurate and detailed information regarding the tenure or validity of registration under RERA.

 ADV LEENA KAULGEKAR


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