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What is Phase-wise RERA Registration?
- General
- Author: Shreya Uppal
Highlights
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Considering the practical difficulties in the industry, the RERA Act, 2016 has also introduced the concept of phase-wise registration for a real estate project.
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where the real estate project is to be developed in phases, every such phase shall be considered as a Stand-alone Real estate project and the promoter shall be required to obtain the registration for each phase separately.
Considering the practical difficulties in the industry, the RERA Act, 2016 has also introduced the concept of phase-wise registration for a real estate project. The Act has recognized that a large land or township cannot be developed in one go and maybe the developers want to change plans of the subsequent projects launched in the township. Therefore, a real estate developer is allowed to make changes in the future to the phases not registered yet so that time-wise possession can be delivered too.
General points relating to registration on a phase-wise basis:
1. As per Explanation to Section 3(2) of the RERA Act, 2016, where the real estate project is to be developed in phases, every such phase shall be considered as a Stand-alone Real estate project and the promoter shall be required to obtain the registration for each phase separately.
2. As per Section 4(2) of the RERA Act, 2016, the promoter shall enclose the following documents for the application of registration on a phase-wise basis:
(a) An authenticated copy of the approvals and commencement certificate from the competent authority for the real estate project to be developed in phases for each of such phases.
(b) The sanctioned plan, layout plan and specifications of the proposed phase as sanctioned by the competent authority.
(c) As per Section 4 (2)(l)(C) of the RERA Act, 2016, a declaration supported by an affidavit shall be signed by the promoter stating the time period within which he undertakes to complete the concerned phase.
(d) According to this system, by putting this process in phases, the tenants can get the needed RERA protection.
Therefore, the buyers must invest in any real estate project after doing all kind of needed research and the developers must maintain their work of quality and their ethics while delivering any flat.
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Tags: sanctioned plan, commencement certificate, promoter.
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