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    Overview of Real Estate (Regulation & Development) Act

    Overview of Real Estate (Regulation & Development) Act

    Current Scenario- Construction Approvals

    The promoters has to apply to Municipal Corporation  town planning section  for plan approvals

    Municipal Corporation  based on height and location ,will recommend to various committees like high rise committee  etc,

    The committee after checking with the compliance of existing GO and law ,will give permission for construction the apartments/ villas /individual units etc with validity period.

    Once the project is completed, owner has to apply for Occupation Certificate ,The committee also checks the compliance of the construction with  approved layout while sanctioning the occupations certificate

    Occupations certificate confirms about the project is ready to move in and compliance with approvals and permissions obtained

    The entire subject is state purview and even after RERA it will be under state purview. centre is not interfering in the above mechanism

    There is no provision in the above mechanism to  protect the interest of the customers regarding the completion of the project, proper legal title, correctness of the areas, utilisation of the funds etc

    The RERA is addressing the above concern more from the customer point of view , similarly in case customer are not paying as agreed it is providing the protection clauses to promoters also.

    This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.