Chhattisgarh RERA: The Real Estate Regulatory Authority

The word “Chhattisgarh RERA” stands for the Real Estate Regulatory Authority and this got introduced in the year 2016 by the Indian Parliament. There are some rules and regulations which are implemented in some of the union territories of India, like Lakshadweep, Daman & Diu, Chandigarh, Andaman & Nicobar Islands, Dadra & Nagar Haveli. Now, let’s see what are the rules that are implemented.

Some Rules and Regulations under this RERA Act are:

This RERA Act comes with a set of rules and regulations that are implemented and have to be maintained by the project builders. They must abide by the rules and regulations of the Act which are strictly given by the government of India to everyone planning to build a housing project that is more than 500 sq.m. The rules are:

• A builder or a developer, be it a small or a big project can only ask for 10% of the total cost of the property from the investors and buyers. 70% of the total amount of the buyer should be kept in a different account.
• Under this act, the builders are not allowed to talk about the total area of a property as per the super built area, they should tell the carpet area clearly in square meters to the investors and buyers
• If the buying decision somehow gets delayed, then the buyer or the investor should get the full amount of return. If not then the monthly investment of the amount is also allowed.
• Before building the project, every action of the builder should have the consent of the buyer as it is very essential. The developers and builders should always take the permission and approval of the buyer or investor and then proceed ahead.
• All the original documents taken from the buyer should be submitted intact.
• Any serious issues faced by the buyer or the investor should be resolved within 5 years of buying the property also the issue must be corrected within 30 days after the complaint is lodged.
• If the buyer faces any loss from the promoter regarding the property then the buyer himself or the people involved in the process is liable to ask for compensation from the promoter or the builder. The builder is liable to pay compensation for that.

RERA Chhattisgarh

The state of Chhattisgarh has recently implemented the RERA Act in their own state. The real estate builders and developers are liable to follow every rule determined and implemented by the Government of India and in case of any misleading, they are subject to a huge compensation later on. This RERA Act not only protects the buyers from buying any property also motivates and promotes the real estate business in the state as well, where people can easily think of and go for buying any property without a doubt and risk factors.

Chhattisgarh RERA the real estate regulatory authority has become extremely helpful for both the buyer and the builder or developer because, with the security that RERA gives to the people for buying a real estate property, buyers are buying more and this, in turn, is helping the builders as well. The Chhattisgarh RERA has also made the state, a place where one can think of buying a real estate property, be it big or small, without a doubt and in turn help in the economy of the state. This not only is uplifting the real estate business of Chhattisgarh but at the same time is helping the people as well. So, both ways it has helped the state, and thus we can say the RERA CG state is worth it. There another point to note for those who are more comfortable in the Hindi language because one can view theRERA Act Chhattisgarhin Hindi language as well so that it is easier to reach more people of the state.

Now let’s have a look at the Chhattisgarh RERA Registration

Registration of properties is essential in the business of real estate, as it is also considered to be an assurance and protection of both the buyer and the developer. But not all properties need to be registered, the following doesn’t need any registration:

• If the area of a property is not more than 500sq.m.
• Not more than 8 apartments should be constructed in case of a housing complex
• A certificate of completion has to be received by the builder or developer or the promoter
• The real estate projects that don’t involve public endorsements like marketing or advertising

About RERA Chhattisgarh website

Chhattisgarh RERA the real estate regulatory authority website has launched, so that it becomes easier for the people staying in the state or outside the state, to know about the total concept of RERAAct and also the rules and regulations valid for the state real estate business.

Operating this website is very easy and it is also available in the Hindi language as well, one just has to follow the simple steps below:

• The Chhattisgarh RERA official website is opened.
• A new page will open (shown below)
• From the menu bar, the option “Registration” is selected
• From the drop-down menu, you have selected either of the options from “Promoter/project” or “Real estate Agent” (shown below)

In the case of “Promoter/project”

• For online application, one has to select the option “online application” from the drop-down menu
• Another new page will appear on your screen, then you have selected between two options-“New promoter” or “Existing promoter” (shown below)
• If the option, “New promoter” is selected, then one has to enter various details(shown below) and then apply.
• If the option, “Existing promoter” is selected, then one has to enter just the reference number that he has and then apply.

In the case of “Real Estate Agents”

• For online application, one has to select the option “online application” from the drop-down menus
• Another new page will appear on your screen, then you have to enter various required details (shown below)
• After the completion of filling up the details, apply to complete the registration process. 

Also Read   RERA Decoded– What’s in it for you?

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