Your Guide to Know Everything About RERA Tamil Nadu
The Government of India established the Real Estate (Regulation and Development) Act, 2016, also known as RERA Act India, to ensure law and order in the real estate sector and protect the interests of homebuyers.
The RERA Act aims to tackle challenges and issues of the real estate market like delays in project completion, and fraudulent practices to name a few. RERA Act India establishes a regulatory framework and promotes transparency, accountability, and efficiency in the real estate sector, and overall helps make the process smooth for the buyers.
About RERA Tamil Nadu
The government of Tamil Nadu established the statutory body Tamil Nadu Real Estate Regulatory Authority (TNRERA) in 2017 with the primary objective of protecting the interest of homebuyers and and developers and for efficient dispute resolution. TNRERA also covers the Andaman Nicobar Islands. The TNRERA governs the implementation of RERA provisions in the state with regards to registration, applicability, buying and selling, and more.
Key Functions and Services Offered by RERA Tamil Nadu:
Applicability
RERA Tamil Nadu or TNRERA regulation is applicable to both ongoing and upcoming real estate projects in Tamil Nadu, and for all parties involved. It covers both residential and commercial projects in the state, while there is no compromise with standards and projects get finished on time.
Registration
The TN RERA regulations require all real estate projects in Tamil Nadu to be registered with TNRERA. Per data by RERA Chennai has a lot of registered projects in the state with many promoters and real estate agents seeing the region as a hub for real estate development in the state.
Grievance redressal
TNRERA has a system in place for speedy grievance redressal. Homebuyers can file their complaints or grievances on TNRERA portal for a nominal fee, if they’re unhappy with the quality of the project, in case of delay in its completion, or any other issue they have against the real estate developer.
Penalties and fine
The State government of Tamil Nadu requires developers to register their existing projects before they advertise or sell them. Failure to do so may result in an imposition of a fine of 10% of the project cost, along with 3 years imprisonment.
Dispute Resolution
TNRERA has an efficient dispute resolution mechanism in place to address grievances and disputes between homebuyers and real estate developers to ensure justice and fair solutions to the problems related to the project.
Online Services
Users can refer to the TNRERA website to know about the latest updates, guidelines for compliance project and agent registration, tracking project status, and lodging complaints, and more.
Benefits of TNRERA
The TNRERA offers several benefits to homebuyers, including:
Transparency in Process
RERA requires real estate developers to disclose all relevant information about their projects, such as the project plan, the land title, the construction schedule, and the payment plan. Homebuyers can be aware of the details as well as be up to date about their investments.
Redressal Mechanism
RERA provides a forum for homebuyers and authorities to file complaints against real estate developers in case of any issue. For instance, as per RERA Chennai Metropolitan Development Authority (CMDA) can take action against developers who fail to file an application for completion certificate, along with a certificate from the architect or licensed surveyor with the project.
Reducing Fraudulent Practices
TNRERA acts as a deterrent against fraudulent practices by enforcing strict penalties and remedies for developers and promoters engaging in unfair practices.
Timely Project Completion
TNRERA ensures that developers adhere to the project completion timeline mentioned in the agreement, minimising delays and protecting the interests of buyers.
Legal Compliance
The Tamil Nadu Real Estate Regulatory Authority (General) Regulations, 2018 gazette mentions all the legal requirements and obligations to be fulfilled by all the parties involved in the real estate projects registered under TNRERA.
Reliability
:
All the submitted records of all the housing projects in Tamil Nadu can be accessed by simply visiting the TNRERA Website, and all the parties involved can raise a dispute in case of any grievance. This not only ensures transparency, but also builds trust.
RERA Registration Process for Agents in Tamil Nadu
1. Visit https://www.rera.tn.gov.in/ and click on Registration.
2. From the drop-down menu, select if you are registering as an agent or for a project. In both cases, select if it is in Tamil Nadu or the union territory of Andaman.
3. Select Registration> Agents> Apply Online. Select if you are an individual or a firm.
4. You’ll be redirected to the login page of the portal. Select New Registration.
5. Fill in the details and select Create New Account.
5. Once your account is created, you can fill in other details like your project details and proceed to make the payment.
6. Once everything is verified, you’ll receive your registration certificate within 30 days.
7. You need to renew your certificate every 5 years through submission of a renewal application and a nominal fee.
Mandatory information required by Real Estate Agents when registering for RERA
1. Personal details of the agent, including name, address, contact information, PAN card number, and Aadhar card number.
2. Educational qualifications of the agent.
3. Details of the real estate agency, including name, address, contact information, and PAN card number.
4. A statement of the type of properties that the agent deals with, such as residential, commercial, or industrial.
5. A statement of the geographic area where the agent operates.
6. Details of ongoing projects that the agent is currently involved with, including project names, addresses, and status.
7. A declaration that the agent has not been convicted of any criminal offence.
8. A declaration that the agent will comply with the rules and regulations of RERA.
9. Scanned copies of the PAN card, Aadhar card, and photograph of the agent.
10. Scanned copies of the PAN card and address proof of the real estate agency.
Document Checklist to register in RERA Tamil Nadu:
For Promoter
● Application for registration of project Form -A
● Declaration Form -B
● Registration certificate of project Form-C
● Intimation of rejection of application for registration or for extension
● of registration of project or revocation of registration of project Form-D
● Application for extension of registration of project Form-E
● Certificate for extension of registration of project Form-F
● Complaint to authority Form-M
● Complaint to regulatory authority Form-N
For Individual Real-Estate Agent
● Application – Form-G
● Registration certificate – Form-H
● Intimation of rejection of application for registration or for renewal or for revocation – Form-I
● Application for renewal of registration of real estate agent Form-K
● Appeal to appellate tribunal – Form-l
● Complaint to authority – Form-M
● Complaint to regulatory authority – Form-N
Company, Society, Partnership Firm, Trust, Development Authority, or Proprietorship Firm
● Details of enterprise like its name, registered address, type of enterprise (for e.g. proprietorship)
● Particulars of registration including the byelaws, or memorandum of association etc.
● Photograph of partners, directors, etc.
● Copy of the PAN Card
● Copy of the address proof
● Other information and documents, as may be required by the Authority in regulations.
To make the payment
● Application fee for registration in RERA Tamil Nadu
● Online payment details
Project Registration Charges at RERA Tamil Nadu
For individual real estate agents: Rs 25,000
For real estate partnership firm: Rs 50,000
For residential projects: Rs 10 per sq. m. of FSI area
For commercial projects: Rs. 50 per sq. m. of FSI area
Registering a Complaint on TNRERA website:
● Visit the online portal of the official website of TNRERA.
● Click on the Online Filing of Complaints
● Choose between Form M (to address real estate regulatory authority) and Form N (to address adjudicating officer)
● Login to the portal by entering your email ID and password.
● If you don’t have an account, select New Registration to create an account.
● Once logged in, the portal will enable you to file the complaint and enter details like name and address, and upload documents.
● Once you’ve filed the complaint, click on the payment tab. You can make the payment either through online or offline mode.
RERA Tamil Nadu Office Contact and Address Details
Tamil Nadu Real Estate Regulatory Authority (TNRERA), No.1A, 1st Floor, Gandhi Irwin Bridge Road, Egmore, Chennai – 600008.
Phone No.: (044) 2888 7936/04
Conclusion
A real estate project should be a great investment for all the stakeholders, including developers and residents. Buying a property in Tamil Nadu or any place in India has a system that is governed by the RERA regulations to protect buyers interests and to ensure that it is a fair process without any malpractices. Therefore, it is necessary to comply with the RERA regulations.
