RERA Andaman: Registration Process, Fees and Charges

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RERA Andaman

The central government established the Real Estate Regulatory Authority (RERA) when it launched the Real Estate (Regulation & Development) Act in 2016. RERA aims to reduce the risk of fraud and scams in the real estate sector and safeguard the interests of homebuyers.

The central government introduced RERA in Andaman and Nicobar on May 1, 2017. However, all real estate projects on the islands are governed by the Tamil Nadu RERA (TNRERA). Keep reading to understand the purpose, features, fees, and documents required for Andaman RERA.

Purpose of Andaman RERA

Andaman and Nicobar Islands have an active real estate sector with increasing interest from homebuyers who wish to settle there. This growing demand makes it essential to ensure secure and seamless transactions and promote the growth of the real estate sector.

Andaman and Nicobar RERA aims to maintain transparency in real estate transactions and safeguard the interests of buyers and sellers. The RERA Act mandates the registration of all real estate agents and projects in the Andaman and Nicobar Islands under the regulatory authority. Real estate agents and developers who don't comply with RERA Andaman will face penalties or imprisonment.

Function of RERA Andaman

Here are the core functions of Andaman and Nicobar RERA:

1. Regulating the real estate sector: RERA Andaman sets the guidelines for developers, agents, and brokers to prevent unfair practices and ensure fair real estate transactions.

2. Protecting the interest of homebuyers: Andaman RERA safeguards the interest of homebuyers by reducing the risk of fraud, delays, or misrepresentation.

3. Ensuring transparency: Andaman and Nicobar RERA helps maintain transparency by mandating developers to disclose essential details about their projects, such as land title, project plan, layout, etc. This helps homebuyers make informed decisions about their purchases and housing loan options.

4. Maintaining a public repository of projects: RERA in Andaman and Nicobar maintains a centralised repository of all real estate projects and agents.

RERA Act Andaman: Rules and regulations

All real estate agents, promoters, and developers in Andaman must follow the following RERA rules:

1. Builders can only charge buyers based on the carpet area. This is the actual usable area within the apartment walls and excludes the super-built area.

2. Builders cannot take more than 10% of the property's total cost as an upfront payment from buyers. This reduces the financial burden on buyers and minimises the risk of delays or construction-related issues.

3. Any complaint filed with the Appellate Tribunal must be addressed within 60 days to ensure quick resolutions.

4. Builders must deliver properties within the agreed timeframe. If they fail to meet the deadline, they must pay penalty charges to compensate the buyer.

5. Any renewal of a builder's project registration will only be valid for five years.

Fees and Charges for Andaman RERA

Andaman RERA registration charges for real estate projects:

Project type	Charges
Group-housing projects	Rs. 5 per sq. metre for land area within 1000 s.q.m Rs. 10 per sq. metre for land area more than 1000 s.q.m
Commercial projects	Rs. 20 per sq. metre for land area within 1000 s.q.m Rs. 25 per sq. metre for land area more than 1000 s.q.m
Mixed-development projects	Rs. 10 per sq. metre for land area within 1000 s.q.m Rs. 15 per sq. metre for land area more than 1000 s.q.m
Plotted-development project	Rs. 5 per sq. metre

Andaman RERA registration charges for real estate agents:

Agent type	Charges
Individual	Rs 10,000
Other entities	Rs. 50,000

*The charges for real estate agents and projects under RERA Andaman are subject to change. For updated information, please visit the official Andaman RERA website.

Features & Benefits of Andaman RERA

Here are some standout features and benefits of Andaman and Nicobar RERA:

1. Accountability: Andaman RERA holds builders and developers accountable for their actions, ensuring they meet the specified standards and timelines.

2. Standardisation: RERA ensures uniform real estate practices across the Union Territory for seamless transactions.

3. Transparency: RERA in Andaman and Nicobar boosts transparency in the real estate sector by mandating agents to disclose all critical project details.

4. Boost investments: RERA enhances buyer confidence, making real estate investments in Andaman and Nicobar Islands more attractive.

5. Advance payments: RERA restricts developers from taking advance payments exceeding 10% of the property's cost.

6. Timely delivery of projects: RERA ensures developers meet the agreed project timelines by levying penalties for delays.

7. Grievance redressal within 60 days: Andaman RERA ensures all complaints are addressed within 60 days.

Eligibility Criteria to be a Part of Andaman RERA

All real estate projects, agents, and promoters must register under RERA if:

The project takes more than 500 square meters of land area.
The project involves constructing a building with more than 8 apartments.

Documents Required for RERA Andaman Project Registration

The following documents are required to register a project under RERA in Andaman and Nicobar:

PAN card
Aadhar card
Proforma allotment letter
Planning permit
Planning permission approval letter
Passport-sized photograph of the Chairman, Director, or Partner
Building license letter
Patta/PLR document
Form B
Encumbrance certificate
Plan of development works
Structural stability certificate
Audited balance sheet
Bank certificate proforma

Documents Required for RERA Andaman Agent Registration

You must produce the following documents to register as an agent under RERA Andaman:

PAN card
Aadhar card
Applicant's passport-sized photograph
Allotment letter proforma
Bank certificate proforma
Form B
Planning permit
Planning permission approval letter
Building license letter
Patta/PLR document
Encumbrance certificate
Plan of development works
Structural stability certificate

How to Register for RERA Andaman for Promoters?

Follow these steps to register under Andaman RERA online as a promoter:

Step 1: Visit the official RERA Andaman website.

Step 2: Navigate to the 'Online Registration for Projects' section and click 'Andaman'. You will be redirected to the 'Application for Registration of Projects by the Promoter' page.

Step 3: Gather all documents and click 'Proceed After Keeping Ready The Above.'

Step 4: Select the type of promoter and enter your email ID or registration number.

Step 5: Click 'Next' and enter the required details.

Step 6: Upload copies of the required documents and pay the registration fee.

How to Register for RERA Andaman for Agents?

Follow these steps to register under RERA Andaman as an agent:

Step 1: Visit the official RERA Andaman website.

Step 2: Navigate to the 'Register as an Agent' section.

Step 3: Enter the details and upload the required documents.

Step 4: Complete the payment to receive your registration number.

Wrapping up

Andaman RERA ensures fair and transparent real estate transactions in the union territory. It enhances accountability, streamlines grievance redressals, and reduces fraud and delays, empowering homebuyers to make informed decisions.

If you're planning to buy a home in the Andaman and Nicobar Islands, opt for Tata Capital's affordable home loan. Enjoy competitive interest rates for housing loans, flexible repayment terms, minimal documentation, and more. For more information, visit Tata Capital's official website or download the mobile app.

FAQs on RERA Andaman

Yes, RERA is applicable in Andaman. However, it is governed by the Tamil Nadu RERA (TNRERA).

The Andaman RERA registration fee is Rs. 10,000 for individual agents and Rs. 50,000 for other entities.

The Regulatory Authority must register a real estate project in Andaman within 30 days of receiving the application.

A promoter can start advertising a project in Andaman only after receiving RERA registration approval.

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