RERA-FAQs



RERA-FAQs
1. What is West Bengal Housing Industry RegulationAct, 2017 (WBHIRA 2017)?
To regulate and promote the housing sector in an efficient and transparent manner and to protect the interest of consumers in the real estate sector. WBHIRA was published in the Official Gazette on dated 17th October,2017 and came into effect on 1st June,2018.

2. Who is required to be registered under WBHIRA?

A promoter is compulsorily required to file theQuarterly status update of the real estate project under section 4 for public viewing which includes:

  • quarterly up-to-date list of number and types of apartments or plots booked;
  • quarterly up-to-date list of number of garages booked;
  • quarterly up-to-date list of approvals taken and the approvals which are pending subsequent to commencement certificate;
  •  quarterly up-to-date status of the project.

3. Can a Real Estate Project Advertise or Book apartment before registration with West Bengal Housing Industry Regulatory Authority (WB HIRA)?

No Promoter shall advertise, market, book sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, without registering the real estate project with the WB HIRA.

4. Does the act also cover real estate agents?

Every real estate agent shall obtain registration under section 3 of the Act to facilitate sale or purchase of any plot, apartment or buildingby making an application to the Authority accompanied by fees as applicable hereunder:

Applicant Type Registration Fees (Rs.)
Individual 25,000.00
Other Than Individual 2,50,000.00
5. Does the Act cover ongoing or incomplete projects as on 1st June 2018?

All the projects where the promoter has not received completion certificate as on date of commencement of the Act, i.e.1st June 2018 is required to be registered under the Act.

6. What are the details which a promoter is required to furnish in Quarterly Statement?

A promoter is compulsorily required to file theQuarterly status update of the real estate project under section 4 for public viewing which includes:

  • quarterly up-to-date list of number and types of apartments or plots booked;
  • quarterly up-to-date list of number of garages booked;
  • quarterly up-to-date list of approvals taken and the approvals which are pending subsequent to commencement certificate;
  •  quarterly up-to-date status of the project.

7. Is the promoter required to maintain aseparatebank account? What are the modalities of operating the account?

The promoter shall maintain a ‘separate account’ for every project undertaken by him wherein 70 percent of the amount received from the allottees shall be deposited to cover the cost of construction and land cost.

The promoter shall withdraw the amounts from the separate account in proportion to the percentage of completion of the project after it is certified by an engineer, an architect and a chartered accountant in practice.

8. Can a consumer approach the Regulatory Authority with disputes related to the real estate project?

Any aggrieved person may file a complaint with the Authority for any violation or contravention of the provisions of the Act against any promoter, allottee or real estate agent.

9. What are the Penalties for Offencesin contravention of the provisions of the Act?

Penalty for non-registration of the project under section 3 of the Act may extend upto ten percent of the estimated cost of the real estate project. Penalty towards failure to comply with orders, providing false information or contravention of other provisions of the Act may extend upto five percent of the estimated cost of the real estate project.

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