To protect home buyers’ interests, the Indian government introduced the Real Estate (Regulation and Development) Rules (RERA) in 2016-17. Chhattisgarh was one of the first states in India to implement the RERA regulations in order to address homebuyers’ issues and remove pain points in home buying.
RERA has proven to be a blessing for homebuyers ever since it was established. The law guarantees greater transparency in project marketing and execution by real estate developers, giving home buyers more confidence to invest in real estate.
What is Chhattisgarh RERA
RERA Chhattisgarh came into effect in November 2017, as Section 84 of the Act made it compulsory for all the states to implement the legislation within six months of the Act being enforced.
To implement various provisions under the legalization in the state, the state government introduced the Chhattisgarh Real Estate (Regulation and Development) Rules, 2017.
Functions of Chhattisgarh RERA
Under CG RERA, real estate developers have to register all their commercial and residential projects with the Chhattisgarh Real Estate Regulatory Authority. Homebuyers and investors can check whether the project is registered with the regulatory authority or not.
Chhattisgarh RERA Registration
As per the Chhattisgarh RERA, promoters, and real estate agents are required to get their projects registered.
Here are the crucial steps that are required to be followed by agents and promoters while registering their projects.
Rera registration for developers
Developers must follow these steps to register their projects :
- Go to the official website of RERA Chhattisgarh at https://rera.cgstate.gov.in/
- On the home page, click on the “Registration” option
- From the dropdown menu click on the “Promoter/Project” option
- Navigate to the “Online Application – Promoter (Saral)” option
- This will redirect you to the new page, where you have two options: “New Promoter” or “Existing Promoter”.
- In case you are new and want to register as a promoter, select “New Promoter” and you will be redirected to the new page
- On the new page, enter details such as promoter information, member details, payment details, and project details, among others.
- Ensure the developer hasn’t undertaken a project in the past five years by clicking on the pledge button.
- Click on the “Save & Submit” option to register as a promoter with Chhattisgarh RERA.
RERA Registration for Real Estate Agents
Here are the steps to register with Telangana RERA as a real estate agent:
- Go to Chhattisgarh RERA’s official website at https://rera.cgstate.gov.in/
- On the home page, click on the “Registration” button.
- Now, select the “Real Estate Agent” option from the drop-down menu and click on the “Online Application” button.
- Fill in the required information, such as business and member, and payment information.
- After verifying your information, submit your application to register the business with Chhattisgarh RERA.
Exception in Chhattisgarh RERA
There are certain exceptions wherein the project is not required to get registered under Chhattisgarh RERA.
- The project is not required to get registered if the area of the proposed construction does not exceed 500 square meters.
- If the number of the proposed residential building does not exceed 8 units.
- If the developer has already received the compilation certificate for the project before the implementation of RERA Act, the project is not required to get registered with RERA.
RERA Chhattisgarh Fees
Know all about the fees applicable to real estate developers, commercial projects, and for real estate agents.
For Real Estate Developers
Project area less than 1,000 square meters: Rs 5 per sq. m.
Project area over 1,000 square meters: Rs. 10 per sq. m.
For Commercial Projects
- Project area less than 1,000 square meters: Rs. 20 per sq. m.
- Project area more than mentioned limit: Rs 25 per sq. m.
- Area less than 1,000 square meters (Both commercial and residential units): Rs 10 per sq. m.
- Area exceeds 1,000 square meters: Rs 15 per sq. m.
For Real Estate Agents
- Individual Applications: Rs 10,000 registration fee and Rs Rs 5,000 renewal fee
- Non- individual applicants: Rs 50,000 registration fee and Rs 25,000 renewal fee
Chhattisgarh RERA Rules:
Following are the penalties imposed by RERA Chattisgarh for breaking its rules:
Interest penalty on project delay
One of the significant rules of Chhattisgarh RERA is that the developer has to pay interest for delay in possession of an apartment, plot, or building, as defined in terms of the agreement for sale. For each month of delay, the developer is required to pay the interest outlined in the terms of the sale.
Refund in case of non-completion
If the developer is unable to complete the project, investors are entitled to a full refund of their money, plus interest.
Sharing Project Updates
As per the RERA Act, the developers are required to provide quarterly updates on registered projects.
Cap on Advance Deposit
According to the RERA Act, builders are not permitted to receive more than 10 percent of the total cost of the property as an advance payment without entering into the agreement for sale with the party.
Escrow Account Rules
Builders are required to deposit 70% of the funds collected from buyers in an escrow account in exchange for the promise to complete the project. According to the Chhattisgarh RERA, developers must use the funds only for land acquisition and construction.
Project Advertisement Rules
As per the rules, developers must share all the facilities and amenities mentioned in the project advertisements or prospectus with RERA’s official portal.
Penalty for Not Registering
The RERA provisions make it compulsory for the agents to get registered with it, on violating the provisions they are liable to a penalty of Rs 10,000 per day and this may extend up to 5 percent of the total cost of the project sold without the registration number from the authority.
Filing complaints with CGRERA
For filing a complaint with the RERA Chhattisgarh RERA, a buyer needs to follow the given steps:
- First, you have to visit the official website of Chhattisgarh RERA at https://rera.cgstate.gov.in/
- Now, click on “complaints” and select the Form-M option
- Select whether you are a promoter or an agent, and proceed by entering the required details to lodge a complaint.
- At last, make the complaint registration payment of Rs 1,000 and complete the process
CG RERA allows buyers to file an appeal before the Appellate Tribunal if they are not satisfied with the decision of Chhattisgarh RERA. Further, they can also move to the high court if their concern is not justified by the respective tribunal.
Complainants have to pay Rs 5,000 to file a complaint with the Appellate Tribunal against a decision made by Chhattisgarh RERA. You can download the form to register your complaint from the official website.