RERA Registration
Empowering Dreams, Expanding Horizons
ReraFirst offers unmatched expertise in RERA regulations, making the application process smooth and stress-free. We understand that every project is unique, which is why we take a personalized approach, offering dedicated support to meet your specific requirements. Our team handles the complexities of paperwork and streamlines the entire process, saving you time and effort so you can focus on your core business.
By partnering with ReraFirst, you can have complete confidence in your project’s RERA compliance. Our expertise enhances your credibility and builds trust with buyers and investors, giving your project a competitive edge. We also understand the urgency of timely project launches. With proactive communication, diligent follow-ups, and a commitment to efficiency, we’ve achieved registrations in as little as 15 days—setting a new benchmark for speed and reliability in the industry.
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RERA Extension
Gain the Time You Need, Without the Hassle
In the real estate sector, delays can happen for various reasons. When a project cannot be completed within the timeline specified during registration, the RERA Act offers promoters an opportunity to secure an extension. This ensures compliance while allowing sufficient time to complete the development.
RERA provides two types of extensions:
- Initial Extensions (Section 6): Permitted for a maximum period of one year.
- Further Extensions (Section 7(3)): Granted under specific conditions, often requiring allottees’ consent.
Documents Required for a RERA Extension Application
To apply for an extension, the following documents and certifications are mandatory:
- Written Request: A formal letter from the promoter seeking approval for the extension.
- PERT Chart: A detailed project schedule highlighting milestones, dependencies, and timelines.
- Allottees’ Consent: Written consent from buyers, as per Section 7(3) of the RERA Act.
- Quarterly Progress Reports (QPR): Regular updates showing the project’s current status.
- Notarized Declaration by the Promoter.
- Form B Affidavit: Declaration for the revised completion date.
- Delay Justification: A comprehensive explanation detailing the reasons for the delay.
Professional Certifications Required:
- Architect’s Certificate (Form 1): Completion percentage of the work.
- Engineer’s Certificate (Form 2): Development costs incurred.
- Practicing CA Certificate (Form 3): Financial details, including project cost and fund withdrawals.
- Engineer’s Quality Assurance Certificate (Form 2A): Assurance of quality compliance.
- RERA Audit (Form 5): Annual statement of accounts certified by a practicing CA.
Consequences of Failing to Obtain a RERA Extension
Failing to secure an extension can have significant repercussions:
- Ban on Advertising and Marketing: Promoters cannot market the project until an extension is granted.
- Sub-Registrar Refusal: Agreements for sale cannot be registered, delaying legal processes.
- Loan Disbursement Halted: Both project and home loans may be withheld, disrupting cash flow.
- Lapsed Project Status: MahaRERA may classify the project as “lapsed” on its portal, affecting credibility.
- Reputation Damage: The promoter’s reputation and future business prospects may suffer.
- Show Cause Notices & Penalties: Non-compliance may result in penalties and legal notices.
- Allottee Complaints: Complaints from buyers can lead to legal complications and further reputational harm.
Simplify the Process with Expert Help
Don’t let administrative hurdles derail your project. At RERAFirst, we specialize in handling RERA extensions efficiently. From preparing detailed documentation to managing submissions, we ensure the process is smooth, timely, and compliant.
Contact RERAFirst today and let us handle your extension needs so you can focus on delivering your project.
