Six realty agents, 10 builders apply for HRERA registration
CHANDIGARH: In the first month since its inception, the Haryana Real Estate Regulatory Authority (HRERA) has so far received six applications for the registration of real estate agents with it. More than 10 builders have applied for the registration of realty projects, of these eight have been registered with the interim authority.
HRERA was created after the Real Estate (Regulatory and Development) Act 2016 came into full effect on June 1. Under section 3 (1) of the Act, the builder is not allowed to advertise, market, book, sell or offer for sale or invite persons to purchase in any manner any property in a real estate project without registering with the Rera.
In case the builder is found advertising or selling a property without registering the project with the authority he is liable to pay 5% to 10% of the total cost of the project as fines. Projects registered with HRERA are from across the state, though, most are from Gurugram.
The state draft Rera rules are under consideration of the state government after the HRERA submitted these with it. The draft rules were formed under the provisions of the Real Estate (Regulatory and Development) Act 2016. HRERA considered more than 1,870 suggestions and objections from the public and builders before submitting the final draft rules. Gurugram and Faridabad lead in the number of suggestions and objections received.
What should be the definition of ‘ongoing project’ is on the top of the list of suggestions and objections received. There is uncertainty whether the projects which have applied for a completion certificate or partial completion certificate would be covered under the Act or not.
The state draft Rera rules kept projects in which builders have applied for completion certificate out of the Rera purview. This contradicted the original Rera Act that mandated all incomplete projects to be under the Rera.
Other suggestions and objections pertained to the quantum of interest rate to be paid in case of possession delay, information to be displayed on the Rera portal and buyer-sale agreements.
The government had invited suggestions and objections from the public on the draft Rera rules. A period of 15 days was given for this on April 28 with the publication of draft Rera rules.