Fee structure for RERA registrations in GOA !



The Real Estate Regulatory Act has seen enough disputes for the final notifications of the rules of the Act before finally notifying on Thursday, 26th October 2017. The Real Estate (Regulatory and Development) Act was passed by the Indian Parliament in March 2016, and was supposed to be implemented with the beginning of the month of May 2017. However, due to the complications in some of the provisions of the Act and slow-pace of the operations of the State Governments, majority of the states missed the deadline to start the RERA Registrations, including Goa.
The Real Estate Act in Goa saw a lot of conflict from both the buyers as well as builders fearing on the dilution of the rules of the Act. Later it was decided to discuss the rules of the Act between Development Authorities and Real Estate developers of the state before finally notifying them. Due to the delay, Goa missed the first deadline to conclude registrations without even notifying the RERA rules. The state government thus, extended the deadline to 31st October 2017 in order to provide enough time for real estate developers for registrations. However, the deadline was further extended to 31st December 2017 recently again due to absence of notification of the RERA rules.
Now, finally the Goa Government has drafted the final rules, and registrations have also begun in the state.
Here are the fee structures for both the promoters as well agents for registrations in the state of Goa –
Fee structure – Promoters
At the time of application for registration, the promoter shall pay a registration fee, calculated on the area of the land proposed to be developed at the rate of, Rs 10 per square meter, subject to a minimum of Rs 50,000 only and a maximum of Rs 10 lacs only.
Fee structure – Agents
A fee of Rs 10,000 in case of applicant being an individual; and a fee of Rs 1 lac, in case of the applicant being other than an individual shall be paid through NEFT or RTGS System or any other digital transaction mode.
The registration process in Goa is offline as of now, as there is not a proper existing RERA Authority of Goa yet. As soon as the Authority is formed, an official web portal of the Authority will also be formed subsequently. The website will enable the builders as well as agents of the state to commence online rera registrations. The website will also provide an option for the homebuyers to complain to the Authority against any builder or real estate agents regarding any fraudulent activity.
The information and different forms for RERA registrations for Goa is available on the official website of the Department of Urban Development, Goa. The final rules of the Act have also been made available on Urban Development’s portal.  
With the onset of RERA in the state now, it is expected that the Law will bring transparency between the buyers and the builders and benefit them both as well. 

For More Details visit:RERAFILING

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