To answer your query, do land development comes under RERA? I would like to say, Yes. Every builder who seeks to construct a residential or commercial building on land that has an area of more than 500 square metres or the number of apartments scheduled to be constructed exceeds eight, inclusive of all phases, is required to register with RERA.
Avail NoBroker’s Legal Services for the verification of property documents Does land development come under RERA?Commercial structures, apartment buildings, and land that has been developed for sale are all subject to RERA. It is applicable to promoters and real estate brokers, including builders, developers, contractors, development bodies, and other public bodies that develop or build land, buildings, or apartments with the intention of selling them.
How can I be sure the property complies with RERA?The following are some factors to take into account in order to determine whether a property is RERA compliant:
Before starting or marketing a project on a specific property whose area exceeds 500 square metres, the builders must register it under the RERA Act.
Builders are required to show evidence that they have put 70% of the entire amount into a separate escrow account rather than using it for another investment.
Before promoting a new project, builders must secure the essential approvals.
I would conclude here as I believe this suffices your query, do land development comes under RERA? I hope this helps:)
Read More:
How to get RERA certificate? How to verify rera number How to Check RERA Registration Number?Your Feedback Matters! How was this Answer?
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Do Land Development Comes Under RERA?
Riki
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2022-12-19T17:39:13+00:00 2022-12-19T17:39:14+00:00Comment
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