The establishment of the Real Estate Regulatory Authority has somewhat changed the landscape of real estate in Bihar (RERA). Home purchasers, investors, and promoters now have better responsibility, transparency, and security due to the introduction of RERA Bihar.

What is Bihar RERA?

Bihar’s RERA Act came into effect on April 28, 2017, and it applies throughout the state. It is implemented to prevent fraudulent and deceptive actions, which greatly aid in establishing transparency and accountability in Bihar’s real estate market.

Functions associated with RERA Bihar 

Registration of real estate projects 

Real estate agents Registration 

Redressal of complaints 

Disclosure of the promoter’s project 

Benefits of RERA

The RERA act intends to bring transparency and efficiency to the real estate sector, these are the major concerns when it comes to investing in real estate. The RERA Act has made it compulsory for every state government to establish its own set of real estate regulatory body to make the home-buying process transparent, hassle-free, and professional. The formation of a specific state RERA has eliminated concerns about transparency and security. 

Provision under RERA Bihar 

The provisions under the RERA Bihar are divided into 10 chapters, and each chapter caters to a different category. The following are some of the major rules listed in RERA Bihar. 

  • The Act necessitates the developers and agents to get their projects registered along with relevant documents with the RERA. 
  • Registration and further approval of projects in case they fulfil RERA requirements
  • Evaluating applications and approvals of the registered agent or promoter
  • Filing complaints of a homebuyer against developers and providing speedy resolution to their concerns 
  • Verifying information on projects that are expected to be delisted 

Fees and charges 

All developers, agents, and their real estate projects are required to get registered with RERA, except in the case of the below-mentioned scenarios. 

  • If the proposed land area is less than 500 sq meters does not require registration 
  • Any residential apartment has less than 8 units including all phases of construction 
  • Any project where the developer has received the completion certificate before the emergence of the RERA Act

You need to submit a RERA online fee in order to get registered with RERA. The registration fee is different for each type of project. 

Fees And Charges of Bihar RERA

Late Fees Charges

Imposed late fees in case of residential project registration (1000 square meters) is Rs 5 Lakh

Imposed late fees in case of commercial, mixed, and residential project registration is RS 7 Lakh

Other Charges Implied

To avail copy of first five pages of a document

Rs 100

To avail copy of remaining pages (After five pages) of document

Rs 20 is charged per page

To file a written statement

Rs 200

Case File Inspection

Rs 200

POA in the course of hearing

Rs 50

Case restoration

Rs 500

On-site inspection of the real estate project by the RERA authority 

Rs 10,000 for above 60Kms, Rs 6,000 (30Kms to 60Kms), Rs 3,000 (within 30 km)

Alterations and modifications are done in the registration form

Rs 1,000

To submit query response

Rs 1,000

To submit project status on a quarterly basis

Rs 1,000

To submit an audited statement of the dedicated project account

Rs 1,000

Group Housing 

  • The fee charged will be Rs 5 per sqm if the area is less than or equivalent to 1000 sqm,
  • If the area exceeds 1000 sqm, the fee will be Rs 10 per sqm

Mixed Developments Project

  • If the area is less than or equivalent to 1000 sqm in that case the fee is Rs 10 per sqm
  • If the area exceeds 1000 sqm the fee becomes Rs 15 per sqm

Commercial Projects

  • If the area is less than or equivalent to 1000 per sqm, the fee charged is Rs 20 per sqm
  • If the area exceeds in that case the fee is Rs 25 per sqm

Plotted Development Projects 

  • Rs 5 per sqm capped at Rs 2 Lakh

Required documents for agent registration 

  • Authentic proof of Place of Business
  • Pan Card of Real estate agent 
  • Proof of Registration – COI or Partnership Deed 
  • Photograph of Real Estate Agent
  • Business Pan Card of Agent
  • Aadhar Card of Real estate agent 
  • Other documents such as by-laws, memorandum of association and articles of association

How to register as a promoter 

  • Visit Bihar RERA official website at rera.bihar.gov
  • Click on “project registration”, and it will redirect you to new page 
  • Now, select the type – Promoter/Real estate agent
  • Select “promoter”
  • Fill in all the required details such as mobile number, email Id, and PAN number
  • After completing all the steps, click on the “register” tab to complete the RERA registration process

How to register as an agent

  • Visit Bihar RERA official website at rera.bihar.gov
  • Click on “project registration”, and it will redirect you to new page 
  • Now, select the type – Promoter/Real estate agent
  • Select “Real estate agent”
  • Fill in all the required details such as mobile number, email Id, and PAN number
  • After completing all the steps, click on the “register” tab to complete the RERA registration process

Filing complaint with RERA Bihar

  • You need to fill and submit Form M to file a complaint to the authority
  • You need to fill and submit Form N to file a complaint to the Adjudicating Officer

How to file a complaint 

  • Click on the “Complaint Registration” on the homepage of the official website of RERA Bihar at rera.bihar.gov
  • Select where you want to file you complaint form the option “Compliant to RERA / Complaint to Adjudicating Authority”
  • Now, fill all the required details in the RERA online form, the RERA details whether the project is registered or not needs to be mentioned in the form
  • After filing the form, attach the required documents with a bank draft of Rs 1000 and click on “submit” to register your complaint. 

RERA Conciliation Forum 

To resolve disputes between home buyers, real estate agents, and developers, the conciliation forum is created. RERA protects home buyers from malpractices by developers or agents, thus conciliation forum is formed to address the disputes between homebuyers and developers.

Conciliation Process 

The conciliation process starts once the complaint is registered online, and below are the steps that are followed thereafter: 

  • In the next step the complaint is sent to the promoter for their consent and the builder must approve the request on the RERA official website
  • Complaint registration requires to submit fee 
  • Once the payment is done, the complaint is sent to the conciliator, which is followed by a hearing to resolve the issue amicably 
  • The coordinator facilitates and attempts to resolve the matter. Further, consent is signed by both parties
  • If there is no consensus, the complaint is dismissed, and both parties are free to file an appeal in court

Compliances under RERA Bihar 

To ensure transparency and professionalism, RERA Bihar introduced “Quarterly Compliance”.  

  • Developers must provide a quarterly update about the proportionate completion of their projects every quarter 
  • Architect certificate (Form 1) Engineer Certificate (Form 2) Chartered Accountant Certificate (Form 3) are categorized as RERA Return 
  • The developer must provide the construction status to the home buyers for their respective projects 

Checklist for the RERA Bihar “Quarterly compliance” includes the following

  • Percentage of water supply
  • Percentage of flooring, internal plaster, and internal walls
  • Installation of electrical fittings, lift, common areas, and water pumps
  • Percentage of lobbies, staircase, underground water tanks 
  • Information about approvals, amendments, and modification

Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram

RELATED ARTICLESMORE FROM AUTHOR