A new method for registration in the real estate business
Real estate business has been developed into a new way. In this way, it has been guided that a developer has to pay an amount for the project that he/she is going to develop. This payment has to be made before the registration of the Project with RERA. The registration project is straightforward. There is no complex way to submit the registration. The developer or the constructing company has to contact an authorized financial institution. Here bank has been chosen as the financial institution. In the bank, they have to make a demand draft and pay it. Else they can also use the method of online payment system.
A look into the residential projects
Real estate companies have been developing astonishing projects in various parts of the country, India. In this project, we are talking about the registration fees that have to be provided by the real estate developers while shaping up the projects in different parts of Madhya Pradesh. If the land that has been proposed to develop by the developers not exceeds more than 1000 square meters, then they have to pay only Rs. 10 per square meter. On the other hand, the developers have to pay Rs. 20 if the proposed land they want to develop exceeds more than 1000 square meters. This new policy is a gain both for the developers and the Government along with the inhabitants of that place.
Commercial projects policies are a little different
The developer if wants to develop a commercial project then they have to pay Rs 50 per square meter for the proposed land where the development does not exceed more than 1000 square meters. If the development exceeds more than 1000 square meters, then they have to pay Rs 100 per square meter which is very small.
The application fee of real estate project for time extension
Many times it is not possible to complete the project within the time that has been given. There are many distractions. Now to extend the time of the project the developer will now have to fill up the “Form E.” The developer has to pay the equivalent or double the amount of registration which is given under the sub-rule (3) of rule 3. Not only that the developer or the construction company also have to cite the reasons that why the extra time is taken by him/her. This registration fee can be paid through the help of the bank or by the process of online payment.
Fee for the withdraw of the registration
The construction company also has to pay the fee if they want to withdraw from the registration of the real estate project. Under sub-section (1) of section 5 an amount of Rs. 50,000 or 10% will be deducted from the registration fee of the developer if he/she wants to withdraw the project registration before the expiry date. The amount that is remaining will be provided to the real estate company within thirty days of the provided application.
The fees structure of the RERA real estate agents Madhya Pradesh
Real estate agents have to fulfill the “Form G” for Registering with RERA to do the real estate works. If any real estate agent is individual, then he/she has to pay an amount of Rs. 25,000 whereas the registration fee for a company or an organization is Rs. 2, 00,000. This amount can be paid through the use of demand drafts in banks or through the use of the online payment methods.
The renewal fee structure of the RERA real estate agents Madhya Pradesh
In the case of renewal, the agent has to fill up “Form J.” For an individual agent the payment structure is Rs 5,000, and for a company or an organization the payment structure is Rs 50,000. They can make the payments through the use of demand drafts or through the use of online payment methods.
The methods of filing complaint with RERA
Fee for complaining against the regulatory authority
A person who is not satisfied with the regulatory authorities may lodge a complaint. If the regulatory authority violates anything then also he/she can complain about it just by filling up the “Form M” and has to pay a fee of Rs. 1,000 using a demand draft that should be paid in the main branch of the bank where the office of the regulatory authority is situated.
Fee for complaining against the Judging Officer
Any person can lodge a complaint against a Judging Officer under section 12, 14, 18 and 19. But for that, a person has to fill the “Form O” and has to pay a fee of Rs. 1,000 using a demand draft that should be paid in the main branch of the bank where the office of the regulatory authority is situated.
Fee for complaining against the Appellate Tribunal
If any person is not satisfied with the Appellate Tribunal, then he/she can lodge a complaint just by filling up the “Form L” and has to pay a fee of Rs. 1,000 using a demand draft that should be paid in the main branch of the bank where the office of the regulatory authority is situated. This payment can also be paid through online methods.
Note
The above information is furnished by the RERA Madhya Pradesh. The documents and the payments may vary from state to state as the Government is different in different states.