The Rajasthan Real Estate Regulatory Authority (RERA) has implemented changes to the registration charges for plotted and commercial schemes. Starting from August 1, developers will be required to pay higher fees for registering their projects.
The new criteria intend to control the real estate sector more effectively and deal with the rising number of complaints within RERA’s jurisdiction and the challenges posed by unauthorized colonies. The move aims to encourage serious developers in the state and improve overall project management.
The order highlights that any project involving nine or more plots on a piece of land exceeding 500 square meters must be registered under RERA. This increased charge will especially be applicable to independent house schemes and commercial plots and will not be imposed on multi-story group housing projects.
The revised registration charges
Previously, the registration fees for residential plots stood at Rs 5 per square meter. Also, the developers paid a flat fee of Rs 5 per square meter for commercial, industrial, or mixed-use plots. However, the RERA has now brought up a standard fee in addition to the existing registration charges.
According to the latest order issued by the RERA registrar, the RERA will now charge a standard fee on top of the existing registration fees. The current registration fees for residential plots stand at Rs 5 per square meter. But the standard fee for commercial, industrial, and mixed-use plots will now be Rs 10 per square meter.
Applicability of the Standard Fee
The new standard fee will apply not only to private developers’ schemes but also to projects initiated by government agencies such as municipalities, UITs (Urban Improvement Trusts), Development Authorities, RIICO (Rajasthan State Industrial Development and Investment Corporation) and housing boards.
This new regulation is applicable to all schemes seeking registration after August 1.
