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The Goa Real Estate Regulatory Authority (Goa RERA) was established under the Real Estate (Regulation and Development) Act 2016 to bring transparency, accountability, and efficiency to the real estate sector.
Every state has its own RERA authority to regulate the real estate market and development in the region.
Goa RERA functions as a regulatory body that monitors and governs real estate transactions across the state. Its core responsibility is to make the real estate sector more transparent and fairer, ensuring that developers and builders adhere to the commitments they make to buyers.
The authority sets clear standards and regulations, safeguarding the interests of both property buyers and developers and creating a balanced ecosystem in the real estate market.
The purpose of Goa RERA is to ensure that all real estate projects and agents are registered and disclose accurate project details, timelines, and legal approvals. It focuses on safeguarding buyers' interests and maintain transparency by establishing clear regulations that developers must follow, especially concerning timelines and project quality.
Further, it implements standardized practices across the industry, including pricing transparency and fair dealings and provides a platform for addressing disputes between homebuyers and developers to ensure quick resolution.
Given the extensive regulations to facilitate the seamless sale of commercial and residential housing or lands, buying a property registered with the Goa RERA will mean it is authentic, and you can purchase it worry-free.
So, before applying for a home loan, make sure to visit the official Goa RERA website to confirm if the property is registered.
The Goa Real Estate Regulatory Authority performs several functions to maintain the integrity of the real estate market:
1. Registration of Real Estate Projects and Agents: All residential and commercial projects must be registered with Goa RERA before marketing or selling. This includes providing a full disclosure of project details.
2. Information Portal for Buyers: Goa RERA maintains an online portal where buyers can access essential project information, such as approvals, completion status, and financial records.
3. Handling Complaints and Disputes: Goa RERA addresses grievances related to project delays, quality issues, or deviations from promised specifications, giving buyers a channel to seek redressal.
4. Promoting Transparency: Goa RERA enforces rules that ensure clear communication from developers regarding the progress of the project, timelines, and any project changes.
5. Monitoring Project Progress: Developers are required to provide updates on project completion status, and Goa RERA keeps track of these updates to ensure compliance with project timelines.
The Goa RERA has laid down several rules and regulations to govern the real estate transactions between parties, enhance transparency, and protect the interests of various stakeholders.
Real estate projects in Goa can be registered on the portal.
Promoters must disclose all the aspects of their real estate projects.
The real estate agents practising in Goa have to be registered.
Consumer complaints must be addressed proactively.
| Entity | Registration Fees |
|---|---|
| For promoters | Rs. 1,00,000 |
| For agents | Rs. 10,000 |
Registering with Goa RERA brings substantial advantages to homebuyers, developers, and agents, fostering trust, transparency, and efficiency in the real estate sector. Here's a closer look at the key benefits:
The eligibility criteria for registration with Goa RERA differs for developers and agents. The general criteria are as follows-
For Developers
The developer must not have a history of fraud or misconduct.
They must provide accurate details of the project.
They must adhere to all the rules and regulations of RERA.
They must have the ability to complete the projects on time.
They must obtain the necessary approvals for the construction projects.
For Agents
The agents must meet the specific educational qualification standards.
They must demonstrate a strong understanding of the real estate sector.
They must adhere to professional conduct.
They must follow the rules and regulations set by Goa RERA.
A copy of the legal title deed
Detailed layout of the proposed project
Approval from the local development authority for the construction
Details of encumbrances on the land on which the development is to take place
Audited balance sheet for the preceding financial year along with the ITR for three preceding financial years
All existing project details, including the total area, built-up area, and project status.
Information regarding the promoters of the project
Financial details of the project
Proof of identity (copy of Aadhaar card, PAN card, passport, or other government-issued ID proof)
Proof of address (copy of Aadhaar card, PAN card, or utility bills)
Photograph of the agent (if individual) and partners and directors (in case of other entities)
ITR of last 3 financial years
Details of the enterprise, including name, type, and registered address
Details of registration, including the bye-laws and memorandum of association
Legal documents related to the land
You can easily register with Goa RERA online by following this simple process-
1. Visit the official portal for Goa RERA
2. Click on 'Project Registration' to go to the real estate project registration webpage
3. Enter your email ID and click on 'Generate OTP'. An OTP will be sent to the email ID.
4. In the registration form, choose the 'Promoter Type' from the dropdown menu and enter the OTP.
5. Click on 'Next' to load the application form. Fill out this form with the necessary details.
6. Upload scanned copies of the necessary documents, pay the registration fee, and confirm project registration.
1. Visit the official Goa RERA portal.
2. Click on 'Agent Registration' to register.
3. Register with your email ID and click on 'Generate OTP' for verification.
4. Choose the 'Agent Type' from the dropdown menu, enter the OTP, and click on 'Next'.
5. Fill in the registration form with the necessary details and upload the scanned document copies.
6. Pay the registration fee and confirm the registration to complete the process.
Yes, the RERA (Real Estate (Regulation and Development) Act) is applicable in Goa. It governs the real estate sector in the state, ensuring transparency, accountability, and protection of consumer interests in real estate transactions, and applies to developers, agents, and real estate projects.
The Goa RERA Authority is required to register a real estate project within 30 days of receiving the complete application.
A promoter in Goa can start advertising a real estate project for sale only after the project is registered with RERA under section 3(1).
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