RERA Mizoram: RERA Registration, Eligibility, Fees & Rules

Introduction

The Real Estate Regulatory Authority is regarded as one of the first Sections that regulate the real estate sector of India. The Mizoram RERA Act was formulated in the year 2016 and was passed by the Parliament of India. It aims at providing transparency in the purchases made between the seller and buyer. It protects the homebuyers’ interests and promotes fair practices and clarity in the dealings. The Mizoram RERA Act also imposes punishments and penalties on cheater and corrupt builders. Every state and UTs have their own set of rules and regulations as per the RERA Act. The regulatory body also addresses the grievances and issues like construction quality, price, title, and delay in delivery, etc. The Mizoram RERA Real Estate Regulatory Authority also impacts the real estate market by boosting the investment factor.

The key provisions of the Mizoram RERA Act are as follows:

Consumer protection and rights.
Regulating the actions of real estate brokers and developers.
It defines the duties of developers.
It also sets up deadlines for dispute resolution and project registration.
Mentions the liabilities and penalties of brokers and developers.
It also lays down the duties and roles of the investors.

The RERA Act is a unified legal body that regulates the buying and selling of flats or apartments. Other compliances laid down for the builders are as follows:

The allottees must be informed about alterations if any;
At least two-thirds of the allottees must give their consent for any changes.
BeforeMizoram RERA registration, no advertisement or launch must be made.
It is mandatory to share information regarding the layout project plan, sub-contractors, status of land title, and project plan.
Timely completion and delivery of projects to the respective consumers.

The registration process for Promoters

Firstly, check all the necessary documents required for the registration process.
Secondly, get the bank account number.
Thirdly, fill Form A (Registration application form) and submit it.
Fourthly, fill Form B (Promoter’s declaration) and submit it as per Section 4 of the RERA Act.
Then fill Form G (Draft agreement/Agreement of sale) and submit it.
Submit an affidavit along with Form G.
Submit another affidavit to state that no booking money has been taken from any other buyer as per Section 3 of the RERA Act.
Registration will be complete after paying the required fees (different for every state).
Make a copy of all the above-mentioned documents and get them duly signed before sending it to the respective RERA authority.
Lastly, fill Form C (Registration certificate) and submit it.

The registration process for Agents of real estate

Submit the necessary documents and the duly filled application form along with the fee to the RERA authority.
You will have to mention the registration number provided to you by the authority in every property sale that you do.
You will also have to maintain the total transactions made at intervals of three months related to the documents, records, and accounts books.
The buyer must be aware of all the documents and information about the project.
It is a punishable offense to commit fraud or misrepresentation in the registration process.

The documents required to register projects

As per RERA, the documents required to register projects are as follows;

Promoter’s ITR for the previous three years.
Audited account of profit and loss, balance sheet, and promoter’s report.
Copies of PAN and Aadhar card of the promoter (all the promoters must provide these documents).
Promoter’s passport size photograph (all the members must provide their photographs, in case of a company or a firm).
Relevant documents like the authenticated title deed should also be given. The promoter’s legal rights must be clear in these documents. A certificate of non-encumbrance is also acceptable if there is no title deed (a revenue authority above the post of a Tehsildar can provide this document).
Collaboration agreement copy should also be given together with the owner’s consent (when the promoter is not the landowner).
Approved sanctioned plan and layout plan.
All the facilities must be stated in the plan. Facilities like fire-fighting, drinking water, evacuation facilities, and renewable energy usage.
A detailed estimated invoice that such as the conveyance deed proposal and agreement of sale.
Open terrace area, carpet area, balcony area, and the number of apartments.
Detailed information about the number of garages available for sale and the open parking spaces.
Real agents’ address and name.
The contractors, structural engineers, architects, and other individuals, names, and addresses who are involved in the project.
No discrimination to be done in the project allotment by the promoter or any other authorized person, by issuing declaration using Form B.
Any other additional document is required as per the concerned state.

Types of forms available in the UD & PA Mizoram

The types of forms available on the UD & PA Mizoram RERA website:

Registration forms-

Form A- Registration application.
Form B- Declaration along with an affidavit.
Form C- Project’s registration certificate.
Form D- Application for Revocation or rejection of project registration.
Form E- Extension of the project application.
Form F- Extension of project certificate.
Form G- Registration as agent Application.
Form H- Agent’s Registration certificate.
Form I- Application as real agents for revocation/rejection of project registration/rejection of renewal application.
Form J- Renewal registration application as a real estate agent.
Form K- Renewal Registration Certificate as real estate agents.

Complaint Forms:

Form L- Appeal.
Form M- Complaint filing to the Authority.
Form N- Complaint filling to the Adjudicating Officer.
Form O-Yearly Accounts Statement.
Form P- Authority has to prepare for the Annual Report.

UD & PA Mizoram RERA

The Mizoram Urban Development & Poverty Alleviation aims to economically strengthen the underprivileged inhabitants and improvise the living conditions and infrastructure of the state. UD & PA Mizoram RERA is a regulatory department that has various waste management and sanitation programs, and District Urban Development programs to bring about a positive and big change. All the Notified towns or Census towns of Mizoram come under the Mizoram Town Planning.

UD & PA Mizoram RERA was adopted on the 24th day of August 2006, which aims at implementing sustainable habitat for all those in the State. The motto of the department is “To create economically vibrant, inclusive, efficient and sustainable urban habitats within the State”. There are several programs entrusted to the State by the Central government. The programs under the assistance of the Centre are mentioned below: