Punjab RERA Registration for Projects
Punjab RERA Registration for Projects
The Government of India has initiated the Real Estate (Regulation and Development) Act, 2016. Under this Act, all the States have to appoint a Real Estate Regulatory Authority to facilitate the growth and promotion of a competitive real estate sector. Punjab Real Estate Regulatory Authority has been launched for regulating the sale in the real estate and housing sector with the vision of bringing efficiency and transparency. Punjab RERA Registration portal was designed to register real estate projects, real estate agents and complaints relating to real estate in the State of Punjab. In this article, we look at the Punjab RERA registration for projects in detail.
To know more about RERA Registration for Project
Real Estate (Regulation and Development) Act, 2016
The Real Estate (Regulation and Development) Act came into force by Punjab Government as it seeks to protect the home-buyers as well as help to increase investments in the real estate sector. This Act also ensures the sale of the plot, apartment, building or the sale of real estate project with the transparency in project-marketing and execution.
Get in touch with IndiaFilings for RERA Agent Registration
Objectives of Punjab RERA Registration
The authority aims to promote the growth and development for a competing real estate sector. The below following are the key constraints of the Authority are as follows:
- Ensuring the requirements of disclosures norms of Real Estate Projects by Promoters
- Ensuring the plot’s sale, apartment or building, as the case may be, or sale of real estate project.
- To provide support and guidance to appropriate Government on in matters relating to the development and promotion of the real estate sector.
- To provide an online facility of registration of real estate projects, agents as well as the filling of complaints by aggrieved persons.
- Registration of Real Estate Plans with Real Estate Regulatory Authority
- Registration of Real Estate Agents under Real Estate Regulatory Authority
- Speedy Grievances Redressal concerning registered real estate projects
The below following are the list of documents to be furnished along with the Project Registration Application form when the project is newly registered:
- Copy of the address, Copy of Aadhar Card and Pan Card of Partners/Authorized representative, Managing Director, Chairman, Director of the Company, Society, Trust, Authority as required.
- Copy of CIN Number and Pan Card of the company
- Copy of license along with a schedule of property/land.
- Service plans explaining the services on the layout plan.
- Documents related to the entry of license and collaboration agreement in the revenue record.
- Bank Draft/ Cheque of the registration fee.
- All renewal letters related to the validation of the license.
- Ownership documents of the licensed area.
- Incorporation Certificate/ Memorandum of Association (MOA)/ AOA of the developer (if a company).
- In the case of a planned colony, the latest layout plan, Demarcation plan and Zoning plan are required.
- In the case of group housing or commercial sites, a copy of the approved Zoning plan is required.
- A complete record of the last approved building plans.
- In case if the promoter is not a licensee, then the following records need to be submitted:
- Proof of the registered collaboration agreement/joint development agreement along with gist.
- Proof of the registered irrevocable Power of Attorney.
- Approval of change in beneficial interest viz. change in developer by the DTCP.
- Cash Flow Statement of the proposed Project.
- Certificate issued from a Chartered Accountant (CA) certifying that the details furnished by the applicant in Form REP-I-cx are accurate as per books of Accounts/Balance sheet of the applicant.
- Non-default Certificate from a Chartered Accountant.
- Detail of the securities enclosed to any banks or financial institutions against the aforesaid loan.
- Project report along with the estimated cost of the project.
- Balance Sheet of last 3 years of developer/licensee
- Approvals from the Water/ Environment/ AAI, etc.
- Cash flow statement of the proposed project.
In case the promoter is an Individual following document has to be submitted:
- Photograph of Promoter
- A balance sheet of the promoter for the last 3 financial years (in case the Annual report is not provided)
- Profit loss statement of the promoter for the last 3 financial years (in case the Annual report is not provided)
- Cash Flow Statement of the promoter for the last 3 financial years (in case the Annual report is not provided)
- Directors Report for the last 3 financial years (if applicable)
- Auditor’s Report for the last 3 financial years
- Annual Report for the last 3 financial years (Only the initial pages of the report up to the table of contents and the pages containing the financial statements like balance sheet, profit and loss statement and cash flow statement is required)
- Income Tax Return for the last 3 financial years in case of Individual (in case the promoter is an Individual)
- PAN Card of the Promoter/ Firm
- Company Registration Certificate/ MoU of the promoter
- Photograph of key Organization Members
Procedure for Punjab RERA Project Registration
The applicants have to follow the below procedure to apply for the Real Estate Project Registration.
Access the Portal
Step 1: Navigate to the official portal of Punjab RERA website for the RERA Project Registration.
New User Registration
Step 2: If a new user, the applicant will have to click on the hyperlink New Registration and select the user type to create a new user as a Promoter, Real Estate Agent or Complainant.
Step 3: Now enter all valid details and click on the Submit button.
Login to Portal
Step 4: Then log in through user Promoter and choose any option either Individual or Other than Individual depending upon the type of promoter
Step 5: Enter valid requested details and click on the Save button to create a user profile.
Promoter’s Track Record
Step 6: The applicant will have to enter valid experience details and click on the “add reasons” link to select the reason from the available options.
Litigations (if any)
Step 7: If there is any litigation related to a particular project then the user will enter valid details related to litigations and click on save button
Upload Required Documents
Step 8: The promoter need to upload all the required documents and fill valid details of the document to be uploaded. Then click on the add files to browse the document and click the upload button to upload all the documents. To view, all the uploaded documents click on the reset button.
Step 9: Promoter Profile Review/Confirm form will display status complete if all corresponding forms are filled properly, otherwise status is pending and then click on each Confirm button under Action Required. The application will be successfully submitted with a unique diary number assigned to the promoter. All corresponding forms will be locked after that.
Provide Project Details
Step 10: To add project details, the applicant will have to click on the “add project” tab. In this form, the Promoter needs to select any option either New Project or Existing RERA Project depending upon the project status. If Project is existing RERA Project, then click on the “Existing RERA project” and fill all the respective fields. Upon entering the existing RERA number, the project name will be auto-filled. Now click on Add Reasons to select a reason for the delay.
Step 11: After completing the form click on the submit button. The saved project will be displayed in the table format.
Project Land Details
Step 12: To add Land details, select the “Project Name” from the dropdown list for which details of land has to be filled. Then the promoter has to click on the “submit” button to save the form.
Land Khasra Details
Step 13: To add khasra details, select the “Project Name” from the dropdown list for which details of Land khasra has to be filled. Then click on the submit tab to save the form.
Step 14: If there is any case related to that project, then the promoter has to fill the litigation form about the project. First, select the Project and fill all the required details. Click on the submit to save the form.
Project Approval Details
Step 15: Select Project name from the dropdown list and fill the data of the project approval and upload the related document. After filling the details click on submit button to save the details.
Quarterly Update Details
Step 16: To add the details of construction, click on the Construction Details and select project from the dropdown list for which the construction details have to be filled. The current year and quarter registration process will be displayed auto-filled. Now, add other Construction details and save the form.
Step 17: This form is basically of Project Construction Status Photographs. Select project from the dropdown list. Current year and quarter registration process will be displayed auto-filled. Fill Construction Status Details and upload photographs one by one selecting option from Select option.
Step 18: Click on the add files to browse the document and start upload button to upload the document. To view, all the updated documents click on the reset button.
Step 19: In this form, the Promoter has to fill the Payment details to get the registration fee. Select the project name from the dropdown list and fill the payment details and upload the scanned copy of DD or Bankers Cheque. Click on submit button to save the form
Step 20: Display form for Project Details – Review/Confirm with status complete if all corresponding forms are filled properly, otherwise status is pending.
Step 21: Application must be successfully submitted with a unique diary number assigned to the project. An SMS and Email with the defined format containing the diary number will be sent to the applicant. All corresponding forms will be locked. Then the PDF against each Project Review/Confirmation Title will be available to download. Now click on the PDF file to download.