How can a builder be RERA compliant

  • 4 years ago
  • RERA
  • 0
How can a builder be RERA compliant

How can a builder be RERA compliant

  • Project registration.
  • Advertisement.
  • Withdrawal – POC method.
  • Website updation/ Disclosures.
  • Carpet area.
  • Alteration in project – approval of 2/3 allottees.
  • Project accounts – Audit.
  • 70% of the funds collected from allottees needs to be deposited in the project account. Withdrawals to cover construction and land cost.
  • Withdrawals to be in proportion to the percentage completion method.
  • Withdrawal to be certified by an engineer, architect, and CA.
  • Provision for RERA to freeze project bank accounts upon non-compliance.
  • Interest on delay will be same for customer and promoter.

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