RERA Registration Process in Tamilnadu

Investing in real estate has several pros and cons associated with it. One of the cons of investing in under-construction real estate property is the risk of delay in the property’s delivery of possession. These concerns not only result in financial loss but can also cause mental stress. The government of India has adopted the RERA Act to curb such eventualities. The Act provides for establishing the Real Estate Regulatory Authority having jurisdiction over the real estate dispute in a particular State. The Tamilnadu RERA Act was enacted in March 2016 to carry out all the functions specified under the parent Act.

Registration under TNRERA

India’s government has also aimed to protect the real estate stakeholders from fraudulent transactions by establishing RERA. RERA requires developers or builders to register themselves and their projects to promote transparency in the transaction. In case of mismatch or misrepresentation in the details so provided, homebuyers can also file a complaint using its online portal and will be entitled to reimbursement on the investment made by them.

Section 9 of the RERA Act prohibits real estate agents and brokers from carrying out deals on plots, apartments, and building or real estate projects without registering under the broker license Act and issuance. The forms to be filled are:

• Agent: Form G
• Registration of project: Form A and Form B

Section 3 of the Tamilnadu RERA Rules provides details regarding the information and documents that need to be furnished by the promoter or the builders for the registration process. Some of the documents and details are mentioned below:

• Details of his enterprise such as the name, registered address, type of enterprise, etc.
• The registration’s particulars should also be mentioned, such as the by-laws, memorandum of association and articles of association, etc.
• Photographs of the real estate agent and also his partners, director, etc., should be provided.
• Copy of PAN Card and the address proof should be provided.

The real estate agent license is valid for five years.

Registration Procedure for Real estate Agent

1. Click on the registration tab on the online portal.
2. Select Agents from the dropdown box
3. Click apply online and select your registration type, i.e. individual or firm.
4. You will be redirected to the following page.
5. Fill in the details and submit
6. Enter OTP.

RERA registration fees in Tamilnadu

The details regarding the fee to be furnished by the developers, agents, and promoters for the registration of their property with TNRERA is specified below:

Registration Fee for Real Estate Projects:

• Rs. 5 per sq. mt. of the plotted area should be furnished for the layouts, sub-divisions, and site approvals. This amount is exclusive of EWS plots.
• The registration fee for the residential buildings are:
• Rs.10 per sq. mt. Per floor Space Index (FSI), the area should be furnished if the building’s size is less than 60 sq. mt.
• For other residential properties, the promoters, developers or agents are required to furnish Rs. 20 per sq. mt. of the Floor Space Index (FSI) area.
• In the case of commercial properties, Rs. 50 per sq. mt. is charged.
• For other projects, Rs. 25 per sq. mt. is also charged.

Registration Fee for Real Estate Agents:

• For an individual real estate agent, Rs. 25,000 is charged for registration.
• For firms or more than one person, Rs. 50,000 should be furnished.

Registration of Compliant under TNRERA

The various procedure in filing a complaint with TNREAR are mentioned below:

1. Selection of the type of complaint the homebuyer wishes to register (Form M for complaint with the RERA Authority and Form N for a complaint before the adjudicating authority.
2. The submission of Form M can be made using the online portal. However, Form N needs to be submitted either in person or through a registered post.
3. Form M can be obtained by clicking on the complaint tab and filling in the details.
4. Details of the complainant and the respondent, along with their address and contact details, should be provided.
5. The details regarding the complaint and the relief sought should also be mentioned.
6. Payment of fees to be made after the submission of documents.
7. You are required to retain the complaint reference number for future references.

Fee for registering a complaint

The fee for registering complaints with the Adjudicating Officer and the Appellate Tribunal varies. For filing a complaint with the Adjudicating Officer, you are required to furnish Rs.5 000, and for the filing of other complaints, the fee varies by Rs.1 000.

TNRERA Contact Details

Address:

Tamil Nadu Real Estate Regulatory Authority (TNRERA),

No.1A, 1st Floor,

Gandhi Irwin Bridge Road, Egmore,

Chennai – 600008.

Contact Number:

Assistant Directors – 044 2888 7907, 044 2888 7908

Grievance Officer – 044 2888 7904

Adjudicating Office – 044 2888 7919

Email Address:

contact.tnrera@tn.gov.in

Bottom Line

The Real Estate Regulation Authority Act has been introduced to boost real estate transactions. It makes the investment activities safer as the Act mandates the builders to publish details regarding the property online. Builders are also directed to update the information regularly. In case of delay, the builder becomes liable to pay an interest rate of 2% above SBI’s Marginal cost of lending rate.

Assetmonk is an online platform offering properties in cities such as Bangalore, Chennai, and Hyderabad. Assetmonk acts as a medium connecting potential customers to properties matching their preferences. Assetmonk offers a wide range of properties, such as senior living, co-living, apartments, commercial properties, etc. Some of the projects include Sparkle towers, located in a prime location of Kelambakkam, a mixed residential Panama Blue towers, PCC Series I and PCC Series II.

RERA Registration Process in Tamilnadu FAQs:

Q1.How do I get to the RERA project?

A.The details of RERA approved projects are provided in the online portal. You may also check the status of the project (pending, rejected, returned or withdrawn).

Q2.How will RERA benefit buyers?

A.RERA brings in accountability and transparency in the real estate transaction. If you are purchasing property registered with RERA, then your rights are secured under the Act’s provisions. The authority also ensures timely delivery of the projects, eliminating undue delays. In case of any dispute, the regulatory authority under RERA also provides speedy redressal.

Q3.Where can I find the RERA registration number for a project?

A.Open the online portal, click on the registration tab, select projects from the dropdown box, click on registered projects and select Tamilnadu or Andaman based on the property’s location. You will be redirected to a page containing a list containing the details of the registered projects and the project’s registration number.