RERA (Real Estate Regulatory and Authority) came into effect on 1 May 2017 due to lack of efficient execution and operation of the real estate sector and the presence of age old practices by estate agents and builders which lacked to give ownership assurance to home owners in lieu of their investments made for many years. Literally the money invested by home buyers in property got blocked in the waiting period by spurious builders in other projects and the ownership got more delayed.
To give reliable solutions to the public, Govt. followed a strong concept to ensure monetary security to the house owners for a lifetime. RERA was formed to safeguard interest of the investor and RERA consultants would help the buyers, promoters and real estate agencies get thoroughly educated with the principles of RERA and its importance.
RERA consultant Fees eases the registration procedure:
RERA involves an in-depth knowledge of its rules and procedures. RERA Consultancy involves a greater responsibility to acquaint the buyers, builders and agents comprehensively about this new law as to benefit from the RERA principles with much clarity and efficiency.
The process of RERA registration involves quite a lot of paperwork to be furnished by the builders delving into a new or concurrent project and a RERA consultant can help with any or all such details like:
Details of architect registration, contractor etc.
Details of apartment, parking or community center.
Project work under development.
Business partners or promoter details.
Rendering the services of a RERA consultant, there are a number of documents that need his help in filing them. He must fulfill these papers with the RERA authority to initiate a hassle free project commencement at the earliest.
Builder company name and its registration: The RERA consultant helps a company prepare its comprehensive data on key features like company name, registration date, and that documentation bears seal and stamp.
Projects ongoing and done earlier: All crucial projects that are concurrent or have been completed must be enclosed by a copy of the completion letter and scrutinized by the consultant.
Details about project approvals and commencement certificate copy: A RERA consultant will also help arrange the paperwork to make project approval file and submission with the registrar. Project commencement certificate will also be attached.
Planned project sanction letter, layout plan, specifications of the project and phase thereof: A host of other documents like sanction letter to start a new project, blueprint of the map, building architecture and other specifications will also ensure complete transparency and focus on a true project picture.
Work under development plan and its authorization: These should state the local authority's policies are followed as per plan for the development and use of a particular land in that area.
Location construction details; A RERA advisor can assist the builder in charting paperwork for submission on construction
Proforma of the Allotment letter: Other papers like allotment letter also need to be filed with the respective authority and the RERA consultant will guide you through the process.
Contractors and architect company involved, engineer's details; Apart from other paperwork, the foundation structure needs to be made by a certified architect so it is vital to carry the seal of the architect and the allotment letter.
Editing and form submission:
As a RERA consultant, he has to ensure the documentation goes smoothly and there are no rejections to outplay the importance of any project or cause delay in its completion. From checking the registration process to scrutinizing that online registration laws bear complete fulfillment, it is apparent that builders rely on RERA advisors for their project approval.
RERA follows an organized approach since the inception of project to its completion. As a registered user, the advisor will need to provide at the time of registration, ensure fee payment and that important details are not left over wherein "NA" needs to be mentioned for blanks and every detail must be filled accurately as information filled earlier cannot be deleted, though new information can be added to it.
In addition, the RERA advisor will charter these details with the promoter for upload:
Total area in round figure
Revised end date
Bank details of project.
Extended responsibility of a RERA consultant:
A RERA consultant has many important functions out of the ordinary:
He helps provide transparent projection of a venture to the buyers and also helps builders ensure the right path of estate legality. By rendering the services of a RERA advisor, property purchase is all listed and lawfully clear to the buyer upfront without ambiguity.
A RERA consultant will also assist the buyer to purchase or sell out a property much more easily without financial risk or tax burden.
A RERA consultant Fees is acquainted with the laws and regulations of the RERA Act so he can be a major role planner in operations related to real estate and scrutinize the viability of a project so it technically sound for the buyer to invest.
RERA consultants also work as legal counselors for both the buyer and promoter to follow the guidelines easily.
He can be the best person to get the right of the common man protected and reinstated.
Since the obligations of RERA consultant are many, by looking at the measuring the efficacious role a RERA Consultant is obliged to play, his services must be paid for as a type of RERA consultant's fees. Hence, the huge responsibility as a RERA Consultant to guide the people and acknowledge them their rights attracts the share of reward or charge paid to them as a valuable appreciation.
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