RERA

What is the full form of RERA ?

• Real Education in Real Estate

• Real estate regulation for advisors

• Real Estate Regulatory Authority

• Real estate & regulation act

What are the pillars of RERA ?

• Financial discipline & Transparency

• Accountability & Customer centricity

• Compliance

• All of the above

Which projects need RERA registration ?

• Residential

• Commercial

• Plotted developement

• Land under development more than 500 SQFT or 8 units

• All of the above

How much money from each of payment made by customer needs to be deposited in project account (Escrow a/c) as per RERA norms ?

• 100%

• 50%

• 70%

• 40%

Who all need to certify withdrawal of money from escrow account ?

• Engineer

• Architect

• CA

• All of above

• None of above.

How developers are requested to ensure Transparency as per RERA norms ?

• All statutory approvals & architecture plans to be uploaded on RERA site.

• Consent of 2/3 allottees in case of any alteration or addition in plan.

• No launch or advertisement without registration with RERA.

• Developer can plan as their plan & convenience.

In case of delayed payment by customer what would be the penalty % ?

• 10%

• 7%

• As per government guidelines.

• Prevailing rate of return charged by SBI on fresh home loan.

What does mean by RWA ?

• Rural welfare association

• Rental with agreement

• Residential welfare association

• Resident with agreement.

Broker can sell any number of projects once they are registered with RERA ?

• True

• False

Developer is not needed to acquire separate registration number with RERA for different phases of same project ?

• True

• False