Comparative analysis of RERA rules across states

1. `
Queries and Feedback to CA Vinit Deo vinit@posiview.in / +91 89757 61062
Comparative Analysis
of
RERA Rules across States

2. `
Queries and Feedback to CA Vinit Deo vinit@posiview.in / +91 89757 61062
COMPARATIVE ANALYSIS OF RERA RULES ACROSS STATES
Sr.
No.
Items Central
Maharashtra Delhi
Madhya Pradesh
Rajasthan
Karnataka
Uttar Pradesh
1 Ongoing Projects
Exemptions No No No
Uttar Pradesh: Yes
Revised Sanctioned Plan Allowed Allowed Not Clear
Money Collected till date 70% of money collected
less spent on land and
construction cost to be
deposited within 3 months
of application
No provision of depositing
money collected before
registration.
If balance estimated cost of
construction is more than
balance collection, then
100% of receivables to be
deposited in Separate
Account.
Not Clear
Revised Possession Date Allowed Allowed Not Clear
2 Application Fee
Amount Land upto 1000 sq mtrs /
above 1000 sq mtrs
Residential – Rs 5/10 per
sq mtrs
Commercial – Rs 20 / 25
per sq mtrs
Mixed - Rs 10 / 15 per sq
mtrs
Plotting - Rs 5 per sq mtrs
Land upto 1000 sq mtrs –
Rs 1 / sq mtrs
Land above 1000 sq mtrs
– Rs 2 / sq mtrs
Land upto 1000 sq mtrs
/ above 1000 sq mtrs
Residential – Rs 10/20
per sq mtrs
Commercial – Rs 50 /
100 per sq mtrs
Uttar Pradesh:
Land upto 1000 sq mtrs
/ above 1000 sq mtrs
Residential & Mixed
Use – Rs 10 per sq mtr/
Rs 500 per 1000 sq
mtrs or part
Commercial - Rs 20 per
sq mtr/ Rs 1000 per
1000 sq mtrs or part
Cap on Fee Yes
Residential – Rs 5 lakhs
Commercial – Rs 10 lakhs
Mixed - Rs 7 Lakhs
Plotting - Rs 2 Lakhs
Yes
Rs 1 Lakh
No
Fee for Extension 50% of Original Fee Same as original Fee 200% of Original Fee
Extension due to Force
Majeure
No Fee Fee waiver at discretion of
Authority
Fee waiver at
discretion of Authority
3 Allotment of Parking
Open No Yes No
Closed Yes Yes No
Covered Yes Yes Yes

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4 Consent of Allottees for
Change in Sanctioned Plan
No Special Clause Consent required only
for change in Concept
/Proposed Plan attached
to Sale Agreement
No Special Clause
5 Process for Withdrawal of
Amount
Not Specified Specified
Specified
6 Cost Definition
Land Not Specified Exhaustive Definition
Cost incurred by the
promoter on outright
purchase, lease charges
etc
Construction Not Specified Exhaustive Definition
Cost incurred On-site
expenditure for the
physical development
of the project
7 Special Power of Review of
Application to RERA
Authority
No No Yes
8 Submission of Information
for Registration
Details of Litigation Past 5 Years litigation
details related to the
project
Details of proceedings
which are sub-judice
Details of all past and
ongoing litigations
related to the Real
Estate Project
Plans Sanctioned Plans Sanctioned Plan
Proposed Plan with full FSI
potential planned by the
Promoter
Sanctioned Plans
Annual Reports for past 3
years of the Company
Yes No Yes
Annual Reports for past 3
years of the Parent Company
in the project is in a new
Company
Yes No No
Audited Cash Flow of past 3
Years of the Company /
Parent Company
Yes No No
Income Tax Return No No Yes
9 Display of Information on
Website of Authority
All information submitted
by the Promoter as per the
Rules
Only select information
submitted by the Promoter
Additional Information to
be specified by the
Authority in its
Regulations
All information
submitted by the
Promoter as per the
Rules
10 Conveyance of Land No Special Provision.
As per Act 3 months from
Occupancy Certificate.
If no period for conveying
title is registered then –
within 1 months of
formation of society or 3
months of date of issue of
Occupation Certificate
which whichever is earlier
Promoter will convey:
No Special Provision.
As per Act 3months
from Occupancy
Certificate.

4. `
Queries and Feedback to CA Vinit Deo vinit@posiview.in / +91 89757 61062
Single Building – Land &
Building
Building/Wing in a Layout
–convey on that structure
of building / wing without
basements and podiums
Layout – Entire undivided
share of land below all
buildings then within one
month of formation of
Apex Body / Federation or
3 months of issue of
Occupation Certificate to
last building
11 Compounding of Offences
10% of Estimated Cost of
the Project
Between 2 to 10% of
Estimated Cost of the
Project depending on
nature of offence
10% of Estimated Cost
of the Project
UP: Proportionate to
Jail Term

5. `
Queries and Feedback to CA Vinit Deo vinit@posiview.in / +91 89757 61062
About Posiview
Posiview Consulting is a Real Estate focused investment banking firm based in Pune, India. Led by CA
Vinit Deo, Chairman &Managing Director, Posiview Consulting has a professional team of CAs, MBAs
and Engineers who give practical and research based financial growth strategies to real estate
companies. Posiview works with over 100 Real Estate Developers and almost all Financial
Institutions, Private Equity Funds, NBFCs to provide it’s clients with 360 degree financial solutions.
CA Vinit Deo is an expert on the newly enacted Real Estate Regulation and Development Act, 2016
(RERA) and has conducted over 30 sessions across the country for Developers, CAs, Architects,
Engineers, Brokers etc on the benefits of RERA and is working actively with the leading industry
association CREDAI in giving suggestions to Government Authorities on implementation of RERA.
Please send your Queries and Feedback to:
CA Vinit Deo
Cell: +91 8975761062
Email: vinit@posiview.in
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