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Afreement for Sale Andhra Pradesh

agreement of sale- Chhattisgarh

Agreement-for-sale- Delhi

agreement-for-sale- Gujarat

Agreement-for-sale- Haryana

agreement-for-sale- Odisha

Agreement-for-sale- Punjab

agreement-for-sale- Telangana

agreement-for-sale-annexure-a- Tamil Nadu

agreement-for-sale-annexure-a-rule-9- Madhya Pradesh

agreement-for-sale-Assam

agreement-for-sale-Bihar

agreement-for-sale-form-g- Rajasthan

agreement-for-sale-form-l- Himachal Pradesh

Agrrement for Sale- Maharashtra

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List Of Documents Required







Partnership Firm Registration

Property

Registration

Starting

* Exclusive of Taxes

A property document is an agreement that covers comprehensively the terms on which a property’s sale will take place, the conditions, and the date on which the sale will be completed. We will assign you expert lawyers who will estimate the value of the property accurately.

Recent Updates

Frequent questions, quickly answered.

As per section 3(2) the following projects do not require to be registered under the Act:
  • Where the area of land proposed to be developed does not exceed five hundred square meters or the number of apartments proposed to be development does not exceed eight, inclusive of all phases. The State Govt. may reduce the threshold below 500 sqm. or 8 apartments.
  • Where the promoter has received completion certificate for a real estate project prior to commencement of the Act, i.e. 1st May, 2017.
  • for the purpose of renovation or repair or re-development which does not involve marketing, advertising selling or new allotment of any apartment, plot or building, as the case may be, under the real estate project.

Section 4 of the Act provides for details/information/documents and undertaking to be provided by the promoter to the Authority for registration of the project. Some additional informations/documents are also to be furnished as per Rule 3 of the Rajasthan Real Estate (Regulation and Development) Rules, 2017. The application for registration shall be filled in Form- A along with Declaration in Form-B. The application fee shall be paid as per rates given in rule 3(3) of the aforesaid Rules.

The promoter can advertise his project for sale after the project has been registered with the Regulatory Authority as provided in section 3(1).

The promoter is required to make an application in Form-A and fees prescribed under Rule 3(3) of the Rajasthan Real Estate (Regulation and Development) Rules, 2017 along with the documents/ information and undertaking in Form-B to the Authority for registration of the project. In addition, the promoter is also required to append other/additional documents/information as specified in Rule 3(1) of the Rules.

In case of ongoing projects, some additional information are also required to be submitted.

The Regulatory Authority is required to register the project, if it is in compliance with the Act and the Rules and Regulations, within 30 days of the application having been received by the Authority.

If the application for the registration of the project is not complete as required under the Act or the Rules and Regulations made there under, the Authority may grant an opportunity to the promoter to complete the application in all respects. However, in case of non-compliance the Authority has the power to reject the application, only after giving an opportunity to the promoter of being heard.

Section 5 of the Act provides that the Authority has to decide on the application within 30 days of its receipt. It further provides that in case Authority fails to take a decision within the said period of 30 days the project shall be deemed to be registered.

As per section 4 the validity of the registration granted to a project shall be the period declared in Form-B by the promoter, in Form-B, under section 4(2)(I)(C), at the time of making the application for registration, within which he would complete the project.

Any applicant-promoter may withdraw his application. In case the promoter applies for withdrawal of application for registration of the project before the expiry of the period of thirty days provided under sub-section (1) of section 5, registration fee to the extent of five percent paid under Rule 3(3) of the Rules, or rupees twenty five thousand whichever is more, shall be retained as processing fee by the Authority and the remaining amount shall be refunded to the promoter within thirty days from the date of such withdrawal.

Any applicant-promoter may withdraw his application. In case the promoter applies for withdrawal of application for registration of the project before the expiry of the period of thirty days provided under sub-section (1) of section 5, registration fee to the extent of five percent paid under Rule 3(3) of the Rules, or rupees twenty five thousand whichever is more, shall be retained as processing fee by the Authority and the remaining amount shall be refunded to the promoter within thirty days from the date of such withdrawal.

Any applicant-promoter may withdraw his application. In case the promoter applies for withdrawal of application for registration of the project before the expiry of the period of thirty days provided under sub-section (1) of section 5, registration fee to the extent of five percent paid under Rule 3(3) of the Rules, or rupees twenty five thousand whichever is more, shall be retained as processing fee by the Authority and the remaining amount shall be refunded to the promoter within thirty days from the date of such withdrawal.

Yes. As per section 4(2)(I)(D) third proviso, the promoter is required to get his accounts audited within six months after the end of every financial year by a chartered accountant in practice, and shall produce a statement of accounts duly certified and signed by such chartered accountant and it shall be certified during the audit that the amounts collected for a particular project have utilized for the project and the withdrawal has been in compliance with the proportion to the percentage of completion of the project.

Section 4 envisages that for a period of one year the application process can be both manual and online based and after one year it is mandatory to make the entire process online.

In Rajasthan the web-portal of Regulatory Authority has been established. Henceforth submission of all the applications for registration of projects/agents, complaints, appeals including payments of fees shall be online based.

Section 6 envisages two situations within which the registration granted to a project can be extended. Extension of registration can be granted in case of force majeure, in addition, it can also be granted under reasonable circumstance, without the fault of the promoter, which shall not be more than a maximum period of 1 year.

Explanation to section 6 has defined force majeure to mean a case of war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project.

The registration may be extended on an application made by the promoter in Form-E prior to the expiry of the registration already granted.

The application for extension of registration shall be accompanied with a proof of payment through online mode, for an amount equivalent to half of the registration fee as specified under sub-rule (3) of rule 3 along with an explanatory note setting out the reasons for delay in the completion of the project and the need for extension of registration for the project, along with documents supporting such reasons. Provided that where extension of registration is due to force majeure the Authority may at its discretion waive the fee for extension of registration.

As per section 7 the Authority has the powers to revoke registration of a project, for violations specified under the said section. However, revocation of registration of a project is envisaged as a last resort and can only done after providing a reasonable opportunity of being heard.

No, it has to be separately registered if the said adjoining land was not a part of the project which has been registered.

As per section 11 of the Act, the promoter is required to update all project information as furnished at the time of application (as provided under section 4) on the website of the Authority. In addition, section 11 also provides for certain information, which needs to be regularly (quarterly) updated by the promoter, in order to make an informed choice by the buyer.

In addition, the promoter is required to carry out all the responsibilities as envisaged under section 11 at various stages of development of the project and upon its completion.

Section 4 and section 11 provide for a detailed list of disclosures on the website of the Authority by the promoter for public viewing. Also the detailed list is specified in Rule 16 of the Rules. The website of Rajasthan RERA (“rera-rajasthan.in”) is also to be seen.

Section 13 provides that the promoter cannot accept a sum more than 10 percent of the apartment/plot cost as an advance payment/ application fees. For any further collection towards the apartment/plot cost, the promoter is required to enter into an Agreement for sale with the allottee

The format of Agreement for sale to be entered into between the promoter and the allottee has been prescribed as Form-G under the Rules. This Agreement is binding on the parties. Internal flexibility as per contractual understanding could be provided in the said Agreement for sale, for determination/ insertion of other provisions as decided between the parties. However, such provisions should not be in derogation of or inconsistent with the terms & conditions of the format of the Agreement or the provisions of the Act and rules/ regulations made thereunder.

As per section 14 of the Act the promoter can only modify/amend the sanctioned plans or project specifications, after the approval of the competent authority and its disclosure to the allottees, in case of minor additions or alterations.

However, in case of major modification/alteration, the promoter can modify the sanctioned plans or project specification only after having taken approval from two-third of the allottees. In addition, for arriving at the number of two-third allottees, the number of apartments held by the promoter will be excluded. Also, irrespective of the number of apartments held by an allottee he/she shall only be entitled to one vote.

As per section 14(2) the promoter shall be liable for 5 years from the date of handing over of possession to the allottee towards structural defect or any other defect as specified therein.

As per section 15 the promoter is not entitled to transfer or assign his majority rights and liabilities in the project to a third party, without obtaining the prior written consent of two-third of allottees and the Regulatory Authority.

In addition, for arriving at the number of two-third allottees, the number of apartments held by the promoter will be excluded. Also, irrespective of the number of apartments held by an allottee he/she shall only be entitled to one vote.

Section 17 of the Act provides for detailed provisions regarding transfer of title of the apartment and the project to the allottee and the association of the allottees respectively.

Yes, in accordance with the provisions of the Act, the promoter, while applying for registration to Regulatory Authority, has to give a declaration cum affidavit, indicating the time period within which he undertakes to complete the project or phase thereof, as the case may be.

Section 18 of the Act provides for provisions as regards various situations in which the allottee would be compensated by the promoter due to delay in completion of the project etc.

Promoter shall execute a registered conveyance deed in favor of the allottee within three months from date of issue of occupancy certificate or fifty one per cent of the total number of purchasers, in such a building or a wing, has paid the full consideration to the promoter, whichever is earlier.

The Act makes both the promoters and the landlord or any such parties which are beneficiary of a sale of a project and receive payments from allottees as Co-promoters and hence liable to adhere to the provisions of the Act and Rules and Regulations made there under.

The Act puts an obligation on a promoter to obtain consent of each allottee, if he wants to change the building plans for the phase that is registered. If a subsequent phase has not been registered, the promoter can change the plans of the subsequent phases without obtaining consent of the allottees from current / ongoing phases. However, if the subsequent phases are also registered, consent of allottees, of the concerned phases, would be needed as mentioned in section 14 of the Act

As per section 16 of the Act the promoter has to obtain all such insurance as notified by the State Government. So insurance will be compulsory only after the Notification is issued by the State Government. The Act says that the State Government can prescribe various types of insurance including but not limited to,-

  • Title of the land and building as a part of the real estate project; and
  • Construction of the real estate project.

The promoter is liable to pay the insurance premium before transferring the same to the allottee / association of allottees. The documents related to insurance will have to be handed over to the association of allottees when the same is formed.

Provision of termination of agreement is covered in the Form of Agreement for Sale (Form-G) attached to Rajasthan Real Estate (Regulation and Development) Rules, 2017.

 

As per section 59, where under the Act, it is obligatory for the promoter to register a project with the Authority, and the promoter fails to do the same, he shall be liable to a penalty upto ten percent of the estimated cost of the real estate project.

however, in case the promoter consistently defaults or does not comply with the directions/orders of the Authority as regarding registration of the project with the Authority, he shall be liable to additional fine of ten percent of the estimated cost of the real estate project or imprisonment upto 3 years or both.

As per section 60 if the promoter defaults as regards matters covered under section 4, he shall be liable to a penalty upto five percent of the estimated cost of the real estate project.

As per section 61 if the promoter defaults any other provision of the Act or the Rules and Regulations made thereunder, he shall be liable to a penalty upto five percent of the estimated cost of the real estate project.

As per section 63 if the promoter fails to comply with the order of the Authority he shall be liable to a penalty for every day of default, which may cumulatively extended up to five percent of the estimated cost of the real estate project.

As per section 64 if the promoter fails to comply with the orders of the Appellate Tribunal, he shall be liable to a penalty for every day of default, which may cumulatively extended up to ten percent of the estimated cost of the real estate project or with imprisonment for a term which may extend up to three years or with both.

As per section 62, where under the Act, it is obligatory for the real estate agent to register himself with the Authority, and the real estate agent fails to do the same, he shall be liable to a penalty of rupees ten thousand per day of default, which may be cumulatively extended up to five percent of the cost the plot/ apartment/building, for which the sale/purchase has been facilitated by him.

As per section 65, if the real estate fails to comply with the orders of the Authority he shall be liable to a penalty for every day of default, which may be cumulatively extended up to five percent of the cost of the plot/apartment/ building, for which the sale has been facilitated by him.

As per section 66 if the real estate agent fails to comply with the order of the Appellate Tribunal, he shall be liable to penalty for every day of default, which may be cumulatively extended up to ten percent of the cost of the plot/apartment/ building, for which the sale has been facilitated by him or with imprisonment for a term which may extend upto one year or with both.

As per section 67 if the allotted fails to comply with the orders of the Authority he shall be liable to a penalty for every day of default, which may be cumulatively extended up to five percent of the cost of the plot/apartment/building.

As per section 68 if the allottee fails to comply with the orders of the Appellate Tribunal, he shall be liable to a penalty for every day of default, which may be cumulatively extended up to five percent of the cost of the plot/apartment/ building or with imprisonment for a term which may extend upto one year or with both.

As per section 70 if person is punishable with imprisonment under the Act, the same may be compounded on such terms and conditions which has been prescribed in rule 34 of the Rules, which cannot be more than the maximum fine payable for that offence.

The Adjudication Officer is a quasi-judicial person who is mandated to adjudicate on disputes arising under section 12, 14, 18 and section 19. The Adjudicating Officer shall be a person who is or has been a District Judge.

The Adjudicating Officer shall, while deciding the disputes under section 12, 14, 18 and 19 of the Act, have regard to the amount of disproportionate gain or unfair advantage, the amount of disproportionate gain or unfair advantage, the amount of loss, repetitive nature of the default and such other factors that the Adjudicating Officer may consider necessary in furtherance of justice.

As per section 79 of the Act civil courts are barred from entertaining disputes (suits or proceedings) in respect of matters which the Authority or the adjudicating officer or the Appellate Tribunal is empowered under the Act to determine. However, the consumer forums (National, State or District) have not been barred from the ambit of the Act.

Section 71 proviso permits the complainant to withdraw his complaint as regards matters under section 12,14, 18 and section 19 from the consumer forum and file it with the adjudicating officer appointed under the Act.

The laws of the country do not permit forum shopping, thus, an aggrieved can only approach one of the two for disputes over the same matter.

  1. As per section 81, the Authority is empowered to delegate such of its powers and functions under the Act to any Member, officer or any other person subject to conditions specified in the order issued for the same. However, the Authority cannot delegate the responsibility of making Regulations under section 85 under the Act.

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