Haryana has become the 23rd state in India to notify RERA. The Haryana Cabinet cleared the rule and approved the final Haryana (Regulation and Development) Rules 2017. Deletion of the definition of ‘Carpet area’ and ‘Flat’ has been included in the final rules besides an amendment in the definition of term ‘ongoing project’.
The amendment in RERA Haryana
It was reported that some of the final rules of the Regulation and Development Rules 2017 were amended. According to the amended term of ‘Ongoing project’ would mean that now projects that have been finished or where occupancy certificate have been issued will be exempted from registration. According to the earlier draft if the developer had already applied and it is granted in three months, were also exempted.
What will be the fee structure
The promoter shall pay a registration fee @Rs 10 per square metre of the total area of the real estate project. The Rs 10 fee will be collected in case of residential use in hyper/high potential zone. In the case of low and medium zone this fee has been kept at the rate of Rs 5 per square metre In addition to these fee structures in the state of Haryana, Rs 20 per square metre registration fee will be charged in case of commercial use. It was reported that In the case of the industrial plotted colony or the residential plots, the rate would be applicable for the gross area of the colony and in the case of Group Housing, Commercial/ Park/ Cyber City/ any other, the above rates are upto 175 FAR.
Developers in Haryana registered under RERA
It was reported that a total number of around 1,500 licenses have already been issued in Haryana so far. Till now around 25 developers have registered manually with the RERA regulator. There are 22 states that have already cleared and notified the rule. These 22 states include Chandigarh; Uttar Pradesh; Gujarat; Andhra Pradesh; Odisha; Maharashtra; Bihar; Madhya Pradesh; Chhattisgarh; Uttarakhand; Rajasthan; Assam; Punjab; Tamil Nadu; Jharkhand; Karnataka; NCT of Delhi (by Mo/UD); Andaman & Nicobar Islands; Dadra & Nagar Haveli; Daman & Diu; Lakshadweep and Puducherry.
What if one fails to get RERA registration in Haryana
If the builders or the real estate agents in Haryana miss out the chance to register themselves under RERA it will become difficult for them to survive their business. It was reported that without obtaining the mandatory registration no real estate agent will be able facilitate the purchase or sale of any apartment, plot or building. Since registration is mandatory under the central act there are no chances that the deadline will be extended. It was reported that in Punjab everyone will have to register before July 31 under the newly created real estate watchdog.
Source: Moneycontrol
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