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Questions and Answers
When should project registration be completed according to the guidelines?
What is the timeline for granting or rejecting registration applications?
Is there a restriction on construction during the registration period?
What aspect must be cleared before the registration application by the promoter?
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What is one of the primary reasons for timely project registration?
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Which type of entity can be a promoter as per the requirements listed?
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What financial document is necessary for a promoter's registration?
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Which document confirms the approval of a project's layout plan?
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Which of the following is not listed as a land detail requirement?
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Which certificate must be provided by engineers related to quality assurance?
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What should be included in the promoter's KYC documentation?
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Which authority's approval is necessary regarding environmental concerns?
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Which of the following documents provides a financial overview of the promotor's activities?
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What is the purpose of the brochures provided in the pre-booking process?
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Which type of certificate is needed from architects for plotted development?
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Why should a broker/agent be registered with RERA?
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What is NOT a component of the Total Project Cost?
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Which of the following costs could be classified as 'Other Costs' in a project?
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What is an essential document to check before issuing an allotment letter?
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Which form is required for Quality Assurance in engineering?
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What does FSI stand for in the context of project costs?
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What is the maximum advance payment that a promoter can accept without entering into a written agreement for sale?
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Which document must a promoter provide to the allottee at the time of booking?
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What must be done within three months from the date of issue of the occupancy certificate?
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Which of the following is NOT a method of advertisement under RERA?
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What should the stage-wise time schedule provided by the promoter include?
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What is a requirement for the registration of the agreement to sell?
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What must be included in the documentation related to legal aspects of property sale?
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What is the relationship between ownership and unit consideration as specified?
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Study Notes
Project Registration
- Registration should be done anytime between plan approvals up to the start of advertisement, booking and sales.
- Registration to be granted/Rejected within 30 days
- There is no restriction on construction as long as units are not advertised or booked.
- Advertise, Book and Sell
Registration Documents Required
- Promoter Details: Promoter Incorporation, Individual, HUF, Partnership, LLP, Company, Group of Individual, AOP, BOI, Competent Authority, Society, Promoters’ KYC, Partners/Director KYC
- Financial Details: Balance Sheet, Profit & Loss Account, Director’s Report, Cash Flow Statement, Auditor Report, Income Tax Return, Acknowledgement of last 3 years
- Land Details: Index, Sale Deed, 7/12, 6 and 8 (Revenue Records), NA Order, Area Development plan/Part Plan, Registered Development Agreement – Circular 20
- Approval from Authorities: Commencement Certificate, Approved Layout Plan, Approved Building Plan/Plotting plan, NOC from Airport, Fire, Opinion, Environment Authority as applicable, B.U.Permission
- Professionals Certifications: Form 1 – Architects Certificate, Form 2 – Engineers Certificate, Form 2A – Engineers Quality Assurance Certificate, Form 3 – CA Certificate, Form 4 – Architects Certificate, Form 4A – Architects Certificate for Plotted Development, Form 5 – Chartered Accountants Certificate – RERA Audit
- Bank Details: Bank Name, Account Name, Account Number, Branch Name, IFSC Code
Certificates by Various Professionals
- Form 1 – Architects Certificate
- Form 2 – Engineers Certificate
- Form 2A – Engineers Quality Assurance Certificate
- Form 3 – Chartered Accountants Certificate
- Form 4 – Architects Certificate
- Form 4A – Architects Certificate for Plotted Development
- Form 5 – Chartered Accountants Certificate – RERA Audit
Cost Components of Project
- Total Project Cost
- Land Cost: Cost of Land, FSI and TDR Acquisition
- Development Cost: Labour, Material, P&M, Overheads, Finance Cost
- Other Costs: Admin and Taxation Costs, Marketing Costs, Contingencies
Prior to Acceptance of Booking
- Dos: Brochure should be accurate, all amenities in the brochure should be provided, be aware of the date of possession and handing over provided in RERA
- Do Nots: Do not over-commit, broker/agent must be registered with RERA
Prior to Issuance of Allotment Letter
- Dos: Ownership/Joint Ownership should be fixed, Unit Consideration should be fixed
- Do Nots: Amount Collected/Cheque should be less than 10% of Unit Consideration
Rights of Allottee
- The promoter at the time of the booking and issue of allotment letter shall be responsible to make available to the allottee, the following information:
- Sanctioned plans, layout plans, along with specifications, approved by the competent authority, by display at the site or such other place as may be specified by the regulations made by the Authority.
- The stage wise time schedule of completion of the project, including the provisions for civic infrastructure like water, sanitation and electricity.
Registration of Agreement To Sale
- A promoter shall not accept a sum more than ten per cent of the cost of the apartment, plot, or building as the case may be, as an advance payment or an application fee, from a person without first entering into a written agreement for sale with such person and register the said agreement for sale, under any law for the time being in force.
Registration of Sale Deed
- The promoter shall execute a registered conveyance deed in favour of the allottee and hand over the physical possession of the apartment, and the other title documents pertaining thereto within three months from the date of issue of the occupancy certificate.
Marketing
- RERA Registration number
- Full RERA Number
- Abridged RERA Number
- Newspaper Advertisements
- Brochure and Leaflets
- Large Size Outdoor Billboards or Hoardings
- Small Size Hoardings
- Audio Video Media
- Radio
- TV
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Description
Test your knowledge on the requirements and processes for project registration. This quiz will cover essential details such as documents required, approval timelines, and promotional guidelines. Understand key concepts that are crucial for successful project initiation.
