RERA Delhi – How to Register and Impacts of RERA Delhi

To safeguard home buyers’ interests, the Real Estate Regulation and Development Act was adopted in 2016. Additionally, it encourages the growth of the real estate sector by guaranteeing complete openness. All areas of the country’s real estate market are governed and regulated under the RERA Act. Nonetheless, each state has a specific established entity that oversees the real estate industry.

Homebuyers in Delhi can now access the service through the reputable RERA Delhi website. Just viewing the website will allow you to assess all the specifics of a selected home. The formation lessens the possibility of fraud and false information in the industry. You must comprehend how RERA Delhi functions as a prospective house buyer in order to protect the interests of city residents. To learn more, keep reading.

How to Register for RERA Delhi (Real Estate Agents)?

If builders begin any work on a project, then they are required to register it with Delhi RERA. The builder benefits from registering a project with the Delhi RERA authorities because it serves as a certification for the builders. The builder’s trustworthiness and authenticity in the eyes of the buyer are also increased by RERA registration.

Step 1: One can follow the steps given below to register the project with RERA Delhi.

Step 2: Open the official RERA Delhi website.

Step 3: Hover over the categories on the top of the page, select ‘Online Registration’ and click on ‘Register as Agent’.

Step 4: A new screen will appear in front of you wherein you need to fill in the information like the applicant’s name, email address, mobile number, and date of birth. Now tap on ‘Create New Account’.

Step 5:  You are now registered as a Real Estate Agent with RERA Delhi.

How to Register (Buyer)

Step 1: Open the official RERA Delhi website.

Step 2: Hover over the categories on the top of the page, select ‘Online Registration’ and click on ‘Register as Buyer’.

Step 3: A new screen will appear in front of you where you need to fill in the information like the applicant’s name, email address, mobile number, father’s name and date of birth. Now tap on ‘Create New Account’.

Step 4:  You are now registered as a real estate agent with RERA Delhi.

How to Register (Promoter/Project)

Step 1: Open the official RERA Delhi website.

Step 2: Hover over the categories on the top of the page, select ‘Online Registration’ and click on ‘Promoter/Project’.

Step 3: A new screen will appear in front of you wherein you need to fill in the information like the applicant’s name, email address, new password, mobile number, and OTP. Now tap on ‘Create New Account’.

Step 4:  You are now registered as a promoter with RERA Delhi.

Documents Required for RERA  Delhi Registration

The documents that are required to register with RERA Delhi are as follows:

• The Deed
• The plan of the layout
• Plan of the developments
• Plans which are sanctioned
• Land’s encumbrance details
• Statement of cash flow and Income Tax papers
• Aadhaar Card and PAN Card

What are the Impacts of Delhi RERA on Home Loans?

A project unit’s sale deed cannot be recorded in the office of the sub-registrar following the Real Estate (Regulation and Development) Act, 2016 unless occupancy or completion certificates have been obtained first. There is no longer any verification required for unit registrations. That is happening without obtaining occupancy or completion certificates. Everyone is unconcerned about the possible legal ramifications. The RERA Act has consequences, however, the Department of Stamps & Registrations hasn’t taken the necessary steps to stop these properties’ unauthorized sale deed registrations. Some of the impacts are as follows:

• Few projects will be offered as developers and project promoters take the time to understand the Real Estate (Regulation and Development) Act, 2016. Yet, true promoters, builders, and developers will benefit from this circumstance since they will have less competition.
• 32 new sections in the Real Estate (Regulation and Development) Act of 2016 would encourage financial discipline in the sector.
• If the Act is put into effect, developers will need to follow a number of formalities if they want to make particular changes to the project after it has begun. The real estate market may experience chaos in the near term, but in the long run, it will boost investor confidence and boost consumer confidence.

Benefits of Delhi RERA for Home Loan Borrowers

There are many benefits of the Delhi RERA for home loan borrowers, the major ones are listed below:

• Standardized Carpet Area
• Rate of Interest to be paid in full if defaulting
• No risk of bankruptcy
• Payment in Advance
• Right to Information
• Delay of Possession – Right of a Buyer
• Title Defect – Right of a Buyer
• Failed Promises – Right of a Buyer
• Redressal of Grievance

RERA Delhi Contact Information

Address of the Office

2nd Floor, Shivaji Stadium Annexe Building, Shaheed Bhagat Singh Marg, New Delhi – 110001

Contact Details

011-23341404 (Timings: 9.30 AM to 6.00 PM)

Email Address

contactus@rera.delhi.gov.in

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