This article explains the importance of the Real Estate Regulatory Authority. The status of the Nagaland RERA Act in Nagaland along with the registration process of a piece of land or property is also given below. The significance of the Acts & Rules – Government of Nagaland formulated by the state and the benefits of RERA are also explained in this article. You will also find information about the necessary documents, validity, and eligibility criteria.
Nagaland RERA Act
The Real Estate (Regulation & Development) Act is regarded as the regulatory body that forms state-level rules and guidelines to bring transparency in the purchase, build trust in home-buyers, quality implementation of projects, and timely delivery. The Real Estate Agents are regarded as the heart of the Real Estate Regulatory Authority. Every agent must register themselves under their respective RERA Act. Every agent is then issued a registration number by the RERA that is valid for up to 5 years. The issued registration number must be quoted in every buying or selling of property (all transactions). These real estate agents can also be penalized in case they falsely represent the project details to the prospective buyers or commit fraud. A penalty of Rs. 10,000/day and 5% project cost will be charged if found guilty. They are also required to maintain the books of records of all the projects as they are accountable for them.
Nagaland RERA
Nagaland is one of the six North-eastern states who have implemented the Real Estate Regulation Act. The RERA Act paves way for the protection of home-buyers interests while dealing with an agent/broker. The other five North-eastern states are Arunachal Pradesh, Mizoram, Sikkim, Meghalaya, and Manipur. The RERA Act was enacted in the year 2016 by the Indian Parliament.
Implementation is the main objective of any Act. The Central Government gave powers to all the states to notify rules as per their city and form regulatory authorities. Some states are still left to make their web portal as per the RERA Act. Under the RERA Act, only 22 states have their functional web portals, and over 32,923 projects are registered. The lands in these 6 states are owned by the community which poses constitutional challenges. West Bengal is the only state that has implemented its own Real Estate Regulations, called the HIRA (Housing Industry Regulatory Act) in 2017.
RERA Registration in Nagaland
The process of RERA registration in Nagaland is as follows:
When applying in-person
Step 1: Only the indigenous tribe of the state can deal with a property in Nagaland, unlike the other states.
Step 2: The preservation of land has already been adopted by the tribal people of the state.
Step 3: The basic requirements must be met if a person wishes to buy a property or a piece of land.
Step 4: The registration takes place in the sub registration office. The buyer or seller is advised to consult the concerned tribal head. Their guidelines must also be followed.
Step 5: To know about the official process, the applicant must contact the District Administration/office of the Nagaland Commissioner/District Magistrate authorities.
Step 6: Applicant can register the property as per the advice and guidelines of the people mentioned above.
The RERA Registration in other states is different for both promoters and agents. It is more time-consuming and requires many types of forms and documents. The RERA Registration certificate is issued within 30 days of the application by the Department of Real Estate Regulatory Authority.
Documents required in the RERA Registration
The necessary documents that are needed in the registration process of RERA are as follows:
- An encumbrance certificate.
- Duly signed original document of all parties.
- Details of the property like surrounding land details, survey number, land size, etc.
- DD/Challan as proof of full payment with transfer duty/stamp duty (Registration fee and other extra charges).
- Property card.
- Aadhar card.
- Power of Attorney.
- Map of the piece of land/property.
- ID proof and Address proof to be shown to the Registrar (original documents).
- Title deed.
- Certificate of valuation (by the Tehsildar).
Eligibility criteria
The eligibility criteria for the registration of property in Nagaland are as mentioned below:
- Applicants must have the land in their name.
- Applicant must be a legal heir.
- Must have the Power of Attorney or an Authorized signatory.
Fees charged
- The stamp duty and registration fees are different in every state of India.
- The stamp duty depends on the market value or the agreement value that may change as per the type of property and location.
- Charges of document preparation and EC fees.
Validity
The validity of the land registration remains until it is sold to someone else.
Why are the documents required?
- Section 17 of the Registration Act, 1908 is applicable in the whole of India for the land registration process.
- For ascertaining the title of the property, the registration of land is important.
- The property or land registration refers to document registration, alterations in ownership, and other transaction of immovable property. It is advisable to register the land whenever you purchase one to have legal ownership or claim and a guaranteed title. It reduces the risks of fraud and also assists in resolving disputes. Additionally, it creates and maintains an updated record for the public.
Acts & Rules – Government of Nagaland
- The Nagaland (Ownership and Transfer of Land and its Resources) 1955, Act.
- The Nagaland Housing Board Act, 1990.
- The Indian Stamp Duty (Nagaland Amendment) Act, 1989.
- The Nagaland Land and Revenue Regulation (Amendment) Act, 1978.
- The Nagaland Village, Area and Regional Councils Act, 1971.
- The Nagaland Town and Country Planning Act, 1966.
- The Societies Registration (Nagaland) First Amendment Act, 1969.
- The Nagaland Co-operatives Societies (Amendment) Act, 2006.
- The Nagaland Village and Area Councils Act, 1979.
RERA Approved Projects in Nagaland
The projects that come under the authority of RERA are mentioned below:
- All the residential and commercial projects as well as plotted development.
- Land measuring over 500 sq mts.
- Any project without a certificate of completion (before the RERA Act was commenced).
If the purpose of the project is only renovation/re-development/repair which requires no new allotment/selling, marketing, advertising, it will not come under the RERA Act.
The Nagaland PWD (housing Department) is entrusted with the design planning, maintenance, and construction of the Government buildings (except for the police department) such as public buildings, hospitals, schools, government offices, training institutes, stadiums, museums, etc. It also takes the responsibility of repairing and constructing central and semi-government buildings/departments within the state.
The PWD (Public Works Department) Planning and Design Cell has taken up various projects under the assistance of the Central Government as the State Plan Outlay has increased.
Benefits of RERA
There are several benefits of RERA for industries, developers, buyers, and agents.
Benefits of Industry:
- Brings transparency and smooth governance.
- Timely project delivery and efficiency in projects.
- Quality project and standardization.
- The confidence of the investors is enhanced.
- It attracts more investors offering higher investments along with PE funding.
- Regulates the environment.
Benefits of Developer:
- Best and common practices.
- Boosts efficiency.
- Sector consolidation.
- Branding of corporate.
- Attracts higher investments.
- Organized funding also increases.
Benefits of Buyer:
- Provides Consumer protection and awareness.
- Timely delivery and quality products.
- Provides balanced agreements.
- Carpet area based sale giving transparency.
- Money safety and utilization transparency provided by the seller/agent/builder/developer.
Benefits of Agents:
- Sector consolidation (state registration made mandatory).
- Transparency increased.
- Efficiency boosted.
- Best practices causing minimum litigation.
Complaint filing
- Under the RERA Act, any complaint can be filed in the form mentioned by the respective state’s real estate authority.
- A complaint must be filed against a registered project within a period for contravention or violation of the rules or regulations laid down in the RERA Act.
- If the case is pending before the consumer forum or NCDRC, then the complainant can withdraw the case and approach the RERA Authority.
- All the cases can be filed before the authority of RERA except for Section 12, 14, 18, and 19 respectively.
Also Read:
Why are the documents required?
Section 17 of the Registration Act, 1908 is applicable in the whole of India for the land registration process.
For ascertaining the title of the property, the registration of land is important.
