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Murthy   30 June 2023

RERA registration plotted development

Is RERA registration mandatory for sites in a plotted development in a layout formed in April 2016 and commencement certificate issued theteof February 2016 .Can one buy the site thetein and avail bank loan??


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 6 Replies

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

It is the case of purchaser of plot in residential layout Commencement certificate is issued in 2016 and special power of attorney holder of vendor says RERA registration not necessary whether to go ahead with sale

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

thanks for all your replies... K'taka RERA makes it mandatory for registration of projects

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