To promote efficient & transparent real estate transactions & consumer protection. Establishment of regulator for regulation & promotion of real estate sector. Establishing an adjudication mechanism for speedy dispute redressal .

1. REAL ESTATE (REGULATION ANDDEVELOPMENT) ACT,2016
“RERA” BEGINNING OF A NEW ERA IN REAL ESTATE

2. OBJECTIVES
• TO PROMOTE EFFICIENT & TRANSPARENT REAL ESTATE TRANSACTIONS &
CONSUMER PROTECTION
• ESTABLISMENT OF REGULATOR FOR REGULATION & PROMOTION OF REAL
ESTATE SECTOR
• ESTABLISHING AN ADJUDICATION MECHANISIM FOR SPEEDY DISPUTE
REDRESSAL

3. STAKEHOLDERS
DEVELOPER
BUYER
AGENT
REGULATOR &
INDUSTRY

4. IMPACT
RERA
DEVELOPERS
REAL ESTATE AGENTS
BUYERS/ ALLOTEES

5. DEVELOPERS
PROMOTER
 Means a person:-
 who constructs or causes to be constructed
 an independent building or
 a building consisting of apartments, or
 converts an existing building or a part thereof into apartments,
 for the purpose of selling all or some of the apartments to other persons and includes his
assignees; or
 who develops land into a project,
 whether or not the person also constructs structures on any of the plots,
 for the purpose of selling to other persons all or some of the plots in the said project,
whether with or without structures thereon; or .
 any development authority or any other public body …….
Explanation : Person who constructs and person who sells are different, both would be deemed
Promoters and jointly liable.

6. DEVELOPERS
‘REAL ESTATE PROJECT'OR ‘PROJECT’
Means :-
the development of a building or a building consisting of apartments, or
converting an existing building or a part thereof into apartments, or
the development of land into plots or apartment,
for the purpose of selling all or some of the said apartments or plots or
building, and includes the common areas, the development works, all
improvements and structures thereon, and all easement, rights and
appurtenances belonging thereto
A ‘Phase’
is a
separate
project

7. DEVELOPERS
RESIDENTAL &
COMMERCIAL
PROJECTS
500 SQ MTRS
8 APARTMENTS
NEW &
‘ONGOING’
PROJECTS
REGISTER
REAL
ESTATE
PROJECTS
‘ONGOING’
WHEREIN
COMPLETION
CERTIFICATE IS NOT
ISSUED ON OR
BEFORE 30//04/17
No advertisement
or invitation thru
any medium or
booking /sale
without
registration

8. DEVELOPERS

9. DEVELOPERS
DISCLOSURES
Promoters /
Developers
Land Projects Products Associates/
Intermediate
Ownership Details Land Title
status
Detail of
Projects
Nature of Product Real Estate
Agents
Name , address,
Photograph of
promoters
Payments Approval /
Sanctions
Status
Type, Size, No of
Units/ apartments
Architects,
Engineers etc.
Track Records Litigation
status
Layout & plan
Approvals
Total Area, Carpet
Area, No of
Garage,
Contractors
Status of previous
projects i.e. pending
or completed,
Customers litigation
status, reasons for
delay etc.
Encumbranc
s
Project Performa for
Allotment letter,
Agreement to Sell
& Conveyance
deed
Other
concerned
persons for
development
of project

10. DEVELOPERS
PERIODIC UPDATES
SL No Upon Registration On Quarterly Basis
1 All information submitted with
State Real Estate Authority for
registration
List of no. and type of units / garages
booked;
2 Details of Registrations List of approval taken and pending
3 Land title related documents /
contracts / agreements
Status of projects progress with
photographs

11. DEVELOPERS
Separate Bank Account
70 % of customer receipts to be kept
can be withdrawn post certificate from
CA, Architect & Engr proportion to
towards land & construction costs.
Mortgage
Mortgage is subservient to sale.
Pay all mortgages before transfer/as
per loan covenants
Project Registration
Valid till time period mentioned by
Developer for completion. No
extension except for force majeure.
Extension in aggregate of one year.
Registered Buyer Agreement
Beyond 10% can not be collected
without RBA
DISCIPLINE

12. DEVELOPERS
FUNCTIONS/ DUTIES / OBLIGATIONS
 To mention prominently website address of the State Regulatory Authority on all
advertisements, prospectus issued for public;
 To provide prospective buyers on booking:-
 Sanctioned Plan, Layout Plan duly approved;
 Stage-wise Project Completion Schedule etc;
 To be responsible for
 All obligations, responsibilities and functions under the Act, Rules, Regulations and
agreement to sell;
 To provide copy of Completion Certificate or Occupancy Certificate to individual
allottees or their association;
 In case of leasehold land, to provide copy of Lease Certificate to individual allottees
their association containing the lease period and certifying that all dues and charges
are paid;

13. DEVELOPERS
FUNCTIONS/ DUTIES / OBLIGATIONS
 To provide and maintain essential services till the project taken over by association of allottees;
 To help the allottees for formation of their association, society or co-operative society under
applicable law or in absence thereof then with in a period of 3 months of the majority of the project
project units are booked.

 Not to mortgage or create a charge on any apartment, plot or building, after executing an
for sale with allottees (even if, such creation is done, it shall not affect the rights of such allottee)
 To make fair disclosures & not to indulge in any Unfair Practice or Irregular practice. i.e. services are
are of particular standard or grade /has some affiliation/misleading representation/permits or
promotes of services not being offered or indulges in fraudulent practices.
 Not to violate provisions of the Act & Rules / Terms & Conditions of approvals

14. DEVELOPERS
NO CHANGES
DEVELOPER
 Not permitted to alter/ change / make addition in
sanctioned plan. layout plan, specifications or
nature of fixtures, fittings and amenities
for booked apartment, plot or building, unless consented by the customer
 Not permitted to alter/ change / make addition in
sanctioned plan. layout plan, specifications
for the buildings or common area within the project
without written permission of 2/3rd of the allotees (other than promoter)

15. DEVELOPERS
Restriction on Transfer of Real Estate Projects
 Not permitted to transfer or assign major rights or
liabilities in a real estate project to third party(s)unless:-
 Written approval / consent of 2/3rd allottees is obtained , and
 Written approval / consent of the Real Estate Authority is
obtained.

16. DEVELOPERS
INSURANCE & REFUNDS
Insurance need to be taken for Real estate projects including:-
 for title for land and buildings;
 for construction of the projects
In case of default in giving the timely possession etc of an apartment/ plot/
building, promoter is under duty to-
 Pay prescribed interest on the amount received from customer till the date
refund or date of possession, as the case may be; or
 Refund the amount received where customers wishes to withdraw their
amount from the project;
 Pay compensation to customer to be computed in prescribed manner

17. DEVELOPERS
Some Critical Takeaways
 Before registration
 No pre-launch, soft launch of real estate projects;
 No advertisement, media campaign, broadcasting etc. in any manner.
 Restriction on utilisation of customers collections;
 Prior disclosure of titles of land, building etc. any defect, encumbrances thereon
and other project related information. Need to develop system & team to put &
regular update all project related details in public domain on the website of State
Real Estate Authority;
 Robust & efficient team (both internal & external) for planning, land,
procurements, timely approvals and sanctions, material & labour procurements,
efficient contractors empanelment, executing and timely delivery of the projects
compliances;
 Strengthen of Internal controls on operation of real estate projects;
 Capacity building programme for associates & professional to make them aware
about RERA

18. DEVELOPERS
Sl No Nature Penalty
1 Section 3 – Prior Registration of real
projects
-Upto 10% of Estd. Cost of Project;
-Imprisonment upto 3 years or fine or both
2 Section 4 – False information in the
application for real estate projects
-Upto 5% of Estd. Cost of Project;
3 Contravention of other provisions -Upto 5% of Estd. Cost of Project;
4 Failure / contravention of order, decisions
or directions of RERA Authority
Penalty for each day of default cumulatively upto
5% of Estd. Cost of Project;
5 Failure / contravention of order, decisions
or directions of RERA Appellate Tribunal
Imprisonment upto 3 years or fine for each day of
default cumulatively upto 10% of Estd. Cost of
Project; or both
6 Offences by Company/ Firm/ Association Company / firm/ association and every person in
charge, and other persons who are proved guilty
to be punished
OFFENCES & PENALTIES

19. REAL ESTATE AGENTS
DEFINITION
REAL ESTATE AGENT MEANS :
who negotiates or acts on behalf of one person in a transaction of-
 transfer of his plot, apartment or building, as the case may be, in a real
project, by way of sale, with another person or
transfer of plot, apartment or building, as the case may be, of any other
person to him;
and receives remuneration or fees or any other charges for his services whether
commission or otherwise and
includes a person who introduces, through any medium, prospective buyers and
sellers to each other
for negotiation for sale or purchase of plot, apartment or building, as the case
may be, and includes property dealers, brokers, middlemen by whatever name
called;

20. REAL ESTATE AGENTS
RESTRICTIONS & REGISTRATION
 Not to engage into any activity of Real Estate Agency on Real Estate Project
without Registration.
 Not to engage in any activity of real estate agency on any unregistered real
estate project.
 Needs compulsory registration from respective State Real Estate Authority;
 Registration No need to be mentioned on every sale facilitated /completed by
real estate agent.
 It shall be available for public information on the website operated &
by the respective State Real Estate Regulatory Authority of the state where he is
registered.

21. REAL ESTATE AGENTS
FUNCTIONS & RESPONSIBILITIES
 To facilitate sale or purchase of any plot, apartment or building of registered
estate projects;
 To provide assistance to enable the allottees and promoters to exercise their
respective rights and obligations at the time of booking or sale of any plot, real
estate unit, apartment or building
 To maintain prescribed books of accounts, records, documents as per Income
tax Act, 1961.
 Not to involve in any unfair trade practices e.g.
 false or misleading statements orally or in writing;
 false representation of certain affiliation or approvals etc.
 false representation of service standards / grades
 Not to allow/permit any advertisement of services that are not intended to be
offered;
 To arrange / facilitate all documents, information for intended buyers;

22. BUYERS OR ALLOTEES
DEFINITION
“Allottee" in relation to a real estate project, means
 the person to whom a plot, apartment or building, as the case may be, has
allotted, sold (whether as freehold or leasehold) or otherwise transferred by the
promoter, and includes the person who subsequently acquires the said
allotment through sale, transfer or otherwise;
but does not include a person to whom such plot, apartment or building, as the
case may be, is given on rent;

23. BUYERS OR ALLOTEES
RIGHTS & OBLIGATIONS
 Obtain the information relating to sanctioned plans, layout plans along with the
specifications, approved by the competent authority from developers;
 To know stage-wise time schedule of completion of the project, including the
provisions for water, sanitation, electricity and other amenities and services;
 To claim the possession of apartment, plot, building, common areas, in the
projects;
 To Claim the refund of amount paid along with prescribed interest rates from
promoter for non compliances by developers under the Act, Rules or
to sell;
 Other rights as to documents, right to third party transfer etc.
 Make payments as per schedule & pay interest on default as prescribed , take
possession, participate in formation of association, participate in registration etc.
 Make payment towards registration charges , municipal taxes , electricity
etc.

24. Sl No Nature Penalty
REAL ESTATE AGENTS
1 For failure to Register, etc under Section 9 &
fails to perform functions of REA under
10.
Rs.10,000/- for every day of default cumulative upto 5%
of the cost of plot, apartment etc
2 Failure to comply/contravene the Orders of
Authority.
Rs.10,000/- for every day of default cumulative upto 5%
of the cost of plot, apartment etc
3 Failure to comply/contravene the orders of
Appellate Tribunal.
Imprisonment upto 1 year or with fine upto 10% Cost of
Plot , Apartment etc
BUYERS/ALLOTTEES
1 For failure to comply/contravenes decision or
directions of the Authority.
-Upto 5% of the Plot , Apartment etc as may be
determined by Authority
2 For failure to comply/contravenes the orders
Appellate Tribunal.
-Imprisonment upto 1 year or with fine upto 10% Cost
Plot , Apartment etc
OFFENCES & PENALTIES

25. REGULATORY MECHANISM
ADJUDIACTING OFFICER
For claims/compensationion for Section 12,
Section 14, Section 18/19 i.e miselling, refund
REAL ESTATE REGULATORY AUTHORITY
 Impose penalty or interest for
contravention of obligations under Act
 Inquire/investigate Developer, Agent or
allottee.
 Pass interim orders
 Such other powers for development of
Estate indusrty etc
REAL ESTATE REGULATORY APPELLATE
TRIBUNAL
 To prefer an appeal from orders of
Adjudicating Officer or Regulatory
Authority
 Speedy redressal mechanism : To be
decided in 60 days.

26. OUR OFFERINGS
Sl
No
NAME NATURE
1 RERA Compliance Diagnostic A Complete diagnostic of the Project and
documentation for assessing the RERA
Compliance Status
2 RERA Compliance
Management/Registration
A comprehensive task of compliance
beginning diagnostic till registration including
phasing . A complete task of Registration of
Projects /Agents
3 RERA Periodic Compliance
Management
A task of periodic compliance management.
4 RERA Check & Report A comprehensive check and reporting on
RERA Compliance status of the Project.
5 RERA Compliant & Redressal A holistic advisory and handholding for
complaint/inspection/investigation etc.

27. INTYGRAT BUSINESS ADVISORY (P) LTD
2ND FLOOR, BUILDING NO:13,COMMUNITY CENTER,
EAST OF KAILASH, NEW DELHI -110 019.
CALL US @ HANDFONE :91-11-40514977 : MOBILE :91-9599 00 2354
MAIL US @ INFO@INTYGRAT.COM
VISIT US @ :WWW.INTYGRAT.COM
THANK YOU !