According to Anand Kumar, the chairman of Delhi's Real Estate Regulatory Authority (RERA), all real estate projects in both planned and unplanned areas of Delhi fall under the purview of RERA and must be registered under this Act. He emphasized that real estate agents are not permitted to conduct business from residential addresses and are required to maintain a commercial office, for which they must have paid the applicable property tax.
During a real estate conference organized by industry body Assocham in the capital, Anand Kumar, the chairman of Delhi's Real Estate Regulatory Authority (RERA), asserted that RERA encompasses both planned and unplanned areas, mandating that projects in these regions must be registered under the Act. He emphasized that real estate brokers are prohibited from registering their businesses at residential addresses and must operate from a commercial office. Additionally, brokers are required to present a certificate proving that they have paid the commercial tax as part of the registration process.
Kumar stressed the crucial importance for real estate developers to prioritize building trust among the public. He emphasized the need for builders, developers, and collaborators to operate transparently and adhere to the established rules while delivering projects as promised to their customers. Kumar also acknowledged that some developers were reluctant to register with the Authority.
To ensure transparency and authenticity, he advised potential buyers to verify the registration status of any land, plot, flat, or commercial property marketed as "RERA registered" on the official RERA website. Furthermore, Kumar issued a warning to the public, urging them to exercise caution and refrain from getting involved in projects related to 'land pooling' and 'farmhouse policy', as they may pose risks. His message emphasized the importance of informed decision-making to avoid falling into potential traps.
Anand Kumar issued a stern warning to builders and developers, cautioning them against disseminating false information while selling flats or shops in projects that lack RERA registration. He asserted that stringent action would be taken against those found violating this requirement, with no leniency from RERA.
Kumar emphasized that RERA's mandate is clear: plots exceeding 500 square meters and projects featuring more than eight units, including shops, flats, apartments, or commercial spaces, must be registered under RERA. Compliance with this regulation is non-negotiable to ensure transparency and protection for buyers in the real estate market.
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