Bharat Real Estate (Regulation and Development) Act, 2016 By CA. Pravin M. Bangar Edition July 2024

Real Estate Regulation and Development By CA. Pravin M. Bangar

Real Estate Regulation and Development By CA. Pravin M. Bangar

Contents

Part 1 – The Real Estate (Regulation and Development) Act, 2016

Chronology of the events

Real Estate (Regulation & Development) Act, 2016 [RERA] — Implementation Progress Report

Objects of Real Estate (Regulation and Development) Act, 2016

The Real Estate (Regulation and Development) Act, 2016
(No. 16 of 2016)

CHAPTER I – PRELIMINARY

Section 1         Short title, extent and commencement

Section 2         Definitions

CHAPTER II – REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENTS

Section 3         Prior registration of real estate project with Real Estate Regulatory Authority

Section 4         Application for registration of real estate projects

Section 5         Grant of Registration

Section 6         Extension of Registration

Section 7         Revocation of Registration

Section 8         Obligation of Authority consequent upon lapse of or on revocation of registration

Section 9         Registration of Real Estate Agents

Section 10       Functions of Real Estate Agents

CHAPTER III  – FUNCTIONS AND DUTIES OF PROMOTER

Section 11       Functions and duties of promoter

Section 12       Obligations of promoter regarding veracity of the advertisement or prospectus

Section 13       No deposit or advance to be taken by promoter without first entering into agreement for sale

Section 14       Adherence to sanctioned plans and project specifications by the promoter

Section 15       Obligations of promoter in case of transfer of a real estate project to a third party

Section 16       Obligations of promoter regarding insurance of real estate project (Section 16)

Section 17       Transfer of title

Section 18       Return of amount and compensation

CHAPTER IV RIGHTS AND DUTIES OF ALLOOTTEES

Section 19       Rights and Duties of Allottees

CHAPTER V  – REAL ESTATE REGULATORY AUTHORITY

Section 20       Establishment and incorporation of Real Estate Regulatory Authority

Section 21       Composition of Authority

Section 22       Qualifications of Chairperson and Members of Authority

Section 23       Term of office of Chairperson and Members

Section 24       Salary and allowances payable to Chairperson and Members

Section 25       Administrative powers of Chairperson

Section 26       Removal of Chairperson and Members from office in certain circumstances

Section 27       Restrictions on Chairperson or Members on employment after cessation of office

Section 28       Officers and other employees of Authority

Section 29       Meeting of Authority

Section 30       Vacancies etc., not to invalidate proceeding of Authority

Section 31       Filing of complaints with the Authority or the adjudicating officer

Section 32       Functions of Authority for promotion of real estate sector

Section 33       Advocacy and awareness measures

Section 34       Functions of Authority

Section 35       Powers of Authority to call for information, conduct investigations

Section 36       Power to issue interim orders

Section 37       Powers of Authority to issue directions

Section 38       Powers of Authority

Section 39       Rectification of orders

Section 40       Recovery of interest or penalty or compensation and enforcement of order, etc.

CHAPTER VI  – CENTRAL ADVISORY COUNCIL

Section 41       Establishment of Central Advisory Council

Section 42       Functions of Central Advisory Council

CHAPTER VII – REAL ESTATE APPELLATE TRIBUNAL

Section 43       Establishment of Real Estate Appellate Tribunal

Section 44       Application for settlement of disputes and appeals to Appellate Tribunal

Section 45       Composition of Appellate Tribunal

Section 46       Qualifications for appointment of Chairperson and Members

Section 47       Term of office of Chairperson and Members

Section 48       Salary and allowances payable to Chairperson and Members

Section 49       Removal of Chairperson and Member from office in certain circumstances

Section 50       Restrictions on Chairperson or Judicial Member or Technical or Administrative Member on employment after cessation of office

Section 51       Officers and other employees of Appellate Tribunal

Section 52       Vacancies

Section 53       Powers of Tribunal

Section 54       Administrative powers of Chairperson of Appellate Tribunal

Section 55       Vacancies, etc., not to invalidate proceeding of Appellate Tribunal

Section 56       Right to legal representation

Section 57       Orders passed by Appellate Tribunal to be executable as a decree

Section 58       Appeal to High Court

CHAPTER VIII – OFFENCES, PENALTIES AND ADJUDICATION

Section 59       Punishment for non-registration under section 3

Section 60       Penalty for contravention of section 4

Section 61       Penalty for contravention of other provisions of this Act

Section 62       Penalty for non-registration and contravention under sections 9 and 10

Section 63       Penalty for failure to comply with orders of Authority by promoter

Section 64       Penalty for failure to comply with orders of Appellate Tribunal by promoter

Section 65       Penalty for failure to comply with orders of Authority by real estate agent

Section 66       Penalty for failure to comply with orders of Appellate Tribunal by real estate agent

Section 67       Penalty for failure to comply with orders of Authority by allottee

Section 68       Penalty for failure to comply with orders of Appellate Tribunal by allottee

Section 69       Offences by companies

Section 70       Compounding of offences

Section 71       Power to adjudicate

Section 72       Factors to be taken into account by the adjudicating officer

CHAPTER IX – FINANCE, ACCOUNTS, AUDITS AND REPORTS

Section 73       Grants and loans by Central Government

Section 74       Grants and loans by State Government

Section 75       Constitution of Fund: ‘Real Estate Regulatory Fund’

Section 76       Crediting sums realised by way of penalties to Consolidated Fund of India or State account

Section 77       Budget, accounts and audit

Section 78       Annual report

CHAPTER X – MISCELLANEOUS

Section 79       Bar of Jurisdiction

Section 80       Cognizance of Offences

Section 81       Delegation

Section 82       Power of appropriate Government to supersede Authority

Section 83       Powers of appropriate Government to issue directions to Authority and obtain reports and returns

Section 84       Power of appropriate Government to make rules

Section 85       Power to make regulations

Section 86       Laying of rules

Section 87       Members etc., to be public servants

Section 88       Application of other laws not barred

Section 89       Act to have overriding effect

Section 90       Protection of action taken in good faith

Section 91       Power to remove difficulties

Section 92       Repeal of Maharashtra Act No. II of 2014

Part 2-  State Rules

1       Andaman and Nicobar Islands Real Estate (Regulation and Development) (General) Rules, 2016

2       Andhra Pradesh Real Estate (Regulation and Development) Rules, 2017

3       Bihar Real Estate (Regulation and Development) Rules, 2017

4       Chandigarh Real Estate (Regulation and Development) (General) Rules, 2016

5       National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016

6       Dadra and Nagar Haveli Real Estate (Regulation and Development) (General) Rules, 2016

7       Daman and Diu Real Estate (Regulation and Development)
(General) Rules, 2016

8       Goa Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017

9       Gujarat Real Estate (Regulation and Development) (General) Rules, 2017

10     Haryana Real Estate (Regulation and Development) Rules, 2017

11     Karnataka Real Estate (Regulation and Development) Rules, 2017

12     Kerala Real Estate (Regulation and Development) Rules, 2018

13     Madhya Pradesh Real Estate (Regulation and Development) Rules, 2017

14     Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017

15     Punjab State Real Estate (Regulation and Development) Rules, 2017

16     Rajasthan Real Estate (Regulation and Development) Rules, 2017

17     Tamil Nadu Real Estate (Regulation and Development) Rules, 2017

18     Uttar Pradesh Real Estate (Regulation and Development) Rules, 2016

19     Uttarakhand Real Estate (Regulation and Development) (General) Rules, 2017