Murthy 30 June 2023
T. Kalaiselvan, Advocate (Advocate) 01 July 2023
It is not mandatory for RERA registration to obtain home loan from bank.
If the developer is a RERA registered builder then he may have to register this project with RERA or not will depend on him
Dr. J C Vashista (Advocate ) 01 July 2023
Whether it is the case of Builder or purchaser of a flat/ plot ?
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 01 July 2023
All projects that have 8 or more units, whether having a CC or not, should be registered under RERA. However, a project cannot be considered completed until the RWA of the society is formed and operations handed over to the society in line with the RERA.
Murthy 01 July 2023
T. Kalaiselvan, Advocate (Advocate) 01 July 2023
Your original question was that the banks insist oin RERA egistration for granting home loan, hence the answer was that the bank don't have to insist on RERA registration.
However please note that RERA approval is mandatory for all real estate projects, including plots, in Tamil Nadu.
In fact, without registration with the RERA administration, no project can even be initiated. Before commencing the project, the developer had to provide specifics about it and provide frequent updates via RERA on its website. As a result, both purchasing and selling such property are prohibited.
Murthy 02 July 2023