Kerala RERA Rules Kerala Real Estate(Regulation & Development) Rules, 2018 -

Kerala RERA Rules

Kerala Real Estate (Regulation & Development) Rules, 2018

 

Kerala has notified the Kerala Real Estate (Regulation and Development) Rules 2018 on 18^th June 2018 vide GO (P) No. 46/2018/LSGD and has constituted Kerala Real Estate Regulatory Authority on 5^th October 2019.

 

Sri. P.H. Kurian IAS (Retd) has assumes charge as Chairman and Adv.Preetha P Menon has assumed charge as member.

 

Authority has started the series of awareness program to educate the Promoters/Builders/Real Estate Agents, Allottees/Home buyers/consumers and various stake holders.

 

Application, forms, affidavits etc are published in the Kerala RERA Website for registration of Real Estate Projects and Real Estate Agent and guidelines there on.

 

This note will help the reader to understand the Kerala RERA Rules, applicability for Registration real estate project, documents, information required to file application for grant of registration, extension, revocation.

 

Details	Details
Official Kerala RERA Website	https://rera.kerala.gov.in/
Kerala RERA Office Address	Swaraj Bhavan, 5th Floor, Nanthancode, Kowdiar PO, Thiruvananthapuram 695003
Email	info.rera@kerala.gov.in
Filing of Application	Manual Filing / Submission till webportal is ready

 

 

 

Authenticated Copy – Rule 2('C) of Kerala RERA	Self-Attested copy of any document required to be provided
Registration of Real Estate Projects with Authority – Rule 3
Rule 3(1)	Application in Form A – in Triplicate For New Projects (means all Statutory Approvals and permits have been obtained on or after 1-5-2017)
Rule 3(2)	Application in Form A 1 – in Triplicate For Ongoing Projects (means Occupancy Certificate has not been issued as on 1-5-2017)
Registration Fee – Rule 3(4) Note - 1)     Project involving construction and sale of building, total registration fee = plot fee + buildings fee 2)     Floor Area – as specified in permit issued by competent authority	1)     By way of Demand Draft drawn on any scheduled Bank 2)     Fee Amount is as per the Table -   Type of Project Rs. Per Sq Meters Fees payable On Plots 10 Plot Area Building – Ongoing Projects – Form A1 25     Total Floor Area Building – New Projects – Form A 50 Building – Commercial or any other projects 100
List of Documents – Rule 3(5)	1)     All documents as per Sec 4(2) 2)     Form B (Sec 4(2)(l) Clauses A to F)
Withdrawal of Application Rule 3(6)	1)     Application for withdrawal shall made within 30 days of filing application for grant of registration 2)     Authority will retain 10 % or Rs.50,000 whichever is more towards processing fees 3)     Balance will be refundable within 30 days from such withdrawal
Rule 4 – Additional information and documents to be furnished -	1)     PAN 2)     Audited BS, ITR for preceding 3 years 3)     No of Parking Available 4)     Legal title Deed 5)     Details of encumbrance on Project Land 6)     Development Agreement / MOU
Rule 5 – Disclosure in case of Existing (ongoing) Project	1)     All documents as prescribed in Rule and Act 2)     Status of the Project and Extent of Completion 3)     Sold details - Size of the apartment in Carpet Area 4)     Sold details – area of plots

 

Rule – 6 Withdrawal of sums deposited in separate bank account – Sec 4(2)(l)(D)	1)     Land cost – shall be cost incurred by the promoter (whether outright purchase / lease charges etc) 2)     Construction Cost – cost incurred towards on-site and off-site expenditure for physical development of the project
Rule 7 – Grant of Registration of the Project	1)     Registration Certificate in Form C 2)     Rejection shall inform in Form D (however 15 days or such time may be provided to rectify the defect application before rejection)
Rule 8 – Extension of registration of Project	1)     Before expiry of 3 months prior to expiry of registration granted 2)     Fees – 50 % of registration fees 3)     Reason for such delay 4)     Documents 5)     Force majure – fees may be waived off 6)     Extensions maximum of 1 year
Rule 9 – Revocation of registration	As per Sec 7 of the Act

 

 

Rule 10 – Agreement for Sale	As per Annexure A
Rule 11 – Real Estate Agent Registration	1)     All Documents 2)     Application Form in Form G 3)     Fees a.      Individual Rs.25,000 b.     Non Individual Rs.2.50 Lacs
Rule 18 – Interest Rate, Timelines	1)     SBI PLR + 2 % 2)     Refund with in 45 days from the due date (AFS Clause 7.5)

 

 

 

 

 

Vinay Thyagaraj is a Chartered Accountant and a Law Graduate, founder partner at M/s. Venu & Vinay, Chartered Accountants, has over 18 years of experience in Business Consulting, Structuring and Taxation. Presented business, taxation technical papers and participated at various symposiums, forums. Regular speaker at various regional TV channels on financial matters, budget etc. Has been working on The Real Estate (Regulation and Development) Act 2016 since the inception of the Act with a view to understand financial, business impact of the Act on the organization and Industry, helping promoters to implement the best practices under RERA. Travelled across south Indian states to deliberate, discuss, present technical papers on RERA. Presented more than 100 technical sessions on RERA to Industry Associations, Professionals, home buyers association, Law universities and for public at Large. He is also financial consultant at RERA Consultants LLP