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RERA, short for the Real Estate Regulatory Authority, is a statutory body established to regulate the real estate sector in Punjab.Its primary aim is to protect the interests of homebuyers and promote transparency and accountability in the real estate industry.RERA Punjab ensures that developers adhere to timelines and deliver projects as promised.
RERA Punjab administers the Real Estate (Regulation and Development) Act, ensuring compliance by developers.
It maintains a public database of registered real estate projects, enabling buyers to access project details.
The authority resolves disputes between buyers and builders efficiently.
The RERA Act in Punjab lays down rules for project registration, disclosure of project details, and penalties for non-compliance.
Builders must provide accurate project information, including project status and completion timeline.
| Type of Real Estate Agent | Registration Fee | Renewal Fee |
|---|---|---|
| Individual | Rs.5,000 | Rs.3,000 |
| Other than Individual | Rs.25,000 | Rs.12,000 |
Step 1: Go to the official RERA Punjab website.
Step 2: Click on the "Project Registration" tab.
Step 3: You'll be redirected to a page to create a new account
Step 4: Choose the appropriate category: promoter, real estate agent, or complainant.
Step 5: Complete the necessary fields and enter the captcha code.
Step 6: Click on "Create User" to establish your account.
Step 1: Visit the official RERA Punjab website.
Step 2: Select the "Agent Registration" tab.
Step 3: Select your specific user type from the available options.
Step 4: Fill in the necessary details and the captcha code.
Step 5: Click on "Create User" to finalize your registration.
Information Required from the Promoter: This includes the promoter's PAN and Aadhaar numbers, the certificate of company registration, passport-size photographs, and details of any parent entities, if relevant.
Financial Documentation: Essential financial documents to be attached are the profit and loss statements, cash flow statements from the past three years, the auditor's report, and the annual balance sheet.
Details of the Project: This encompasses the project's specific features, amenities, projected start and completion dates, any litigation information if present, the development plan, and the documents intended for signing with the allottees.
Land Information of the Project: This section requires details such as the total land area, geographic coordinates (latitude and longitude) of the project's start and end points, information on any encumbrances, the title deed, and approved plans for the project.
Updates on Project Progress: This should cover details about the ongoing construction, parking arrangements, works related to external development, and any planned facilities.
In conclusion, RERA Punjab plays a pivotal role in ensuring transparency and accountability in the real estate sector. Its functions, rules, and regulations are aimed at safeguarding the interests of homebuyers.Additionally, understanding RERA compliance can be crucial when applying for a home loan.Speaking of which, if you're looking for a home loan to fulfill your dream of owning a property in Punjab, don't forget to explore various options and interest rates available in the market.
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