RERA PUNJAB: RERA Registration Process, Fees & Charges

Following the RERA Act 2016 guidelines, the Punjab Government notified the RERA Rules in mid-2017. After getting approval from the RERA authority, the final establishment occurred on August 10, 2017. The infusion of RERA offered a brand-new face to the Indian real estate sector and eliminated fraudulent activities to a certain level. There is much to know about Punjab RERA, such as the registration process, the procedure to file complaints, how to check RERA-registered projects and much more.

Without any doubt, Punjab is in the limelight with notable micro-markets such as Chandigarh, Mohali, and Panchkula. Its numerous focal places make it an excellent state for homebuyers. The accessibility of a diverse selection of properties at reasonable rates is the primary driver of increased investment. However, a few projects show that major scams can also exist in the real estate business.

The emergence of such real estate frauds served as the impetus for establishing a real estate regulatory. As a result, the RERA Act of 2017 was enacted. Punjab RERA regulations were created and released in June 2017, per the RERA standards. As a first-time property buyer or investor, you should be familiar with Punjab RERA. Keep reading for more information on RERA Punjab.

Latest Move of Punjab Real Estate Regulatory Authority to Offer Relief to Promoters

Considering the Covid-19 situation, Punjab RERA officials have decided to offer the following relief: 

1. Projects that were having 15th March as a due date for project completion, will get an extension of 6 months. 
2. The RERA registered projects whose registration with RERA was about to lapse before or by the 15th of March will get tenure of six months to get registered. Although the developers will have to submit a late fee to avail the extension of six months for the registration purpose. 

Important Features of RERA Punjab Act

Whenever you plan to buy a new home, the concerns about security, transparency, and fair practices keep you on your toes. Well, RERA as a regulatory body ensures that the home buying process is carried out ethically.

RERA Punjab has all its policies and regulations mentioned on its official website and there are constant updates about new policies and changes. 

• It is also mandatory for all real estate agents to register their projects so RERA can carry out its operations transparently
• Punjab RERA makes sure that the process of home buying is carried out without compromising on efficiency and ethics

Benefits of Registering with RERA Punjab

• Buyers have the right to know about the project they are investing in, which includes details about layout, completion time, and extra benefits
• Whenever you plan to buy a new home, the concerns about security, transparency and fair practices keep you on your toes. Well, RERA as a regulatory body ensures that the home buying process is carried out ethically.
• If the buyer discovers defects in the title of the property during the time of purchase, they can ask for a compensation amount for the same

Rules and Regulations of RERA Act Punjab

Now that you know about the basic functions of RERA, let’s get you familiar with some of the Rules and Regulations enforced under the Punjab RERA rules act to put an end to frauds and malpractices.

• Homebuyers just must pay for the carpet area. Builders cannot charge for the super built-up area like lifts, stairs, balconies, and lobby
• Developers must resolve any concerns related to disputes within 120 days from the day the complaint is filed
• Under the Punjab RERA Act, developers are prohibited from charging more than 10%.

Checklist For Registration Under Punjab RERA Act

1. To register as a RERA agent or promoter:

In addition, the agent and promoter have to submit notable financial details including:

• Profit and loss statement for the last 3 years 
• Cash flow statement of the last 3 years
• Report of Auditing
• Annual Balance Sheet 

(c) To Register a Project Under RERA Punjab:

Project Information 

• Specifications of the Project
• Amenities of the Project
• Start and end of the project
• Litigation Details 
• Development Plan
• Documents that will be signed by allottees

Project Land Details 

• Land Area
• Latitude and Longitude of the start and endpoint
• Encumbrance Details
• Title Deed
• Approved Project Plans

What is the Procedure for Filling the RERA Registration Form?

RERA registration form is available on the RERA Punjab website, which can be used to register projects or create a builder profile

• The first step of registration is to visit the official website of pbrera Punjab and click on ‘Project Registration’
• You will be redirected to a page to create an account. While creating an account select from the provided options: Promoter, Real estate Agent, or Complainant
• After Filling in the required information, enter the CAPTCHA code and ‘Create a User Account’

Wondering how to register yourself as an Agent, Promoter, or Developer? In that case, follow a similar procedure for registration

• Click on the agent registration tab on the official website 
• Select your user type and fill in all the required details 

In case, you wish to register a complaint as a home buyer, follow these steps:

• File your complaint after filling the form available on the official website of RERA Punjab
• Once you have filled in the form, make a deposit of ₹1000

RERA Conciliation Forum

The basic principle behind creating a Conciliation Forum is to mutually sort out the disputes between home buyers, real estate agents, and developers. RERA seeks to protect home buyers from any scandalous schemes and unfair practices. The RERA Conciliation Forum is formed to address the grievances or disputes between a homebuyer and a developer. The conciliation Forum facilitates amicable settlement of disputes between the builders and allottees. This in turn saves a lot of time for home buyers as well as real estate agents as they do not have to appeal in court. 

RERA Conciliation Process 

The conciliation process is carried out after a complaint is registered online. The following steps are:

• The complaint goes to the promoter for their acceptance

The builder must approve the request on the RERA web portal

• The complainant must deposit a fee for the registration of the complaint
• Once the payment is accepted, the complaint goes to the conciliator and both parties are called for a hearing
• The conciliator works as a mediator and helps the parties resolve the issue harmoniously. Thereafter, a consent agreement is signed by both parties
• In case of no resolution, the complaint is terminated, and both parties are free to appeal in court.

Filing a Complaint 

Section 31 of the RERA Act Punjab gives you the provision to file a complaint against real estate agents, buyers, and promoters.

• The first step is to find a RERA lawyer and file a complaint after the proper jurisdiction
• You also need to keep in mind to file the complaint according to the rules prescribed by the state in which you are filing the complaint

       The following details need to be kept in mind while filing a complaint

1. I)  The details of applicants and respondents
2. ii) A statement of important facts 

     iii) Address of the project

1. iv) Registration number of the project

You must be wondering how to file a complaint in case you encounter any problem, we have got you covered for that too. Let’s check out the few simple steps to file a complaint on RERA Punjab Portal.

• To file a complaint, click on the complaint tab and then open the file complaint link on the official web portal
• Create your user profile by making a login ID with the username as a complainant
• Once your ID is made, you will receive an auto-generated email. Click on the email for verification and activate the account
• The next crucial step is to Log In and visit the My Profile section to complete your profile information
• Select Complaint Form N or Form M according to the type of complaint
• Fill the information in the form and pay the registration fees to complete the process
• Upload relevant documents and submit the complaint
• Remember to note down the complaint number for future reference

Sample of RERA Punjab Complaint Form 

Form M

Form N

Compliances Under RERA Punjab Act

RERA Punjab introduced ‘Quarterly Compliance’ to boost transparency and safeguard buyer’s interest. 

1. Developers need to quarterly submit all the documents about the proportionate completion of the project
2. The developer needs to inform buyers about the construction status of their projects
3. The RERA Quarterly Compliance Checklist 

• Percentage of water supply
• Percentage of flooring, internal plaster, and internal walls
• Installation of electrical fittings, lift, common areas and water pumps
• Percentage of lobbies, staircase, underground water tanks 
• Information about approvals, amendments, and modification

In a Nutshell

After reading the information above, you must understand the procedures for accessing Punjab RERA project details. Moreover, enrolling as an agent or promotion with Punjab RERA and obtaining trustworthy information about Punjab RERA’s performance. Explore the official Punjab RERA portal to learn about additional services available for your convenience.

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