The Delhi Development Authority (DDA) has so far registered the 21 ongoing housing projects on its roster with the Real Estate Regulatory Authority for NCT of Delhi (Delhi RERA) even as the total number of projects registered with the real estate regulator in the National Capital Region stands at around 100, Delhi RERA Chairman Anand Kumar told Moneycontrol in an interview.
Delhi RERA had earlier raised an objection to DDA’s not registering its projects with the authority. In December 2021, Delhi RERA had issued an order where it had asked DDA to get the projects registered for safeguarding the interests of allottees but the agency, whose prime function is “to plan, promote and develop” Delhi, as per its website, had been opposing the move. However, in August-September 2022, DDA registered the 18 projects that existed at the time with the real estate regulator.
Protecting homebuyers
Kumar said be it a government organisation or a private organisation, any entity that is into real estate development should be responsible for protecting the interests of homebuyers. So whether it is DDA or the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) or National Buildings Construction Corporation (NBCC), if they are executing real estate projects, they must get their projects registered with the RERA.
“It is mandatory for projects which are falling in the RERA category to register with us. Directions were issued to DDA, NBCC and DSIIDC to register their housing, commercial or plotting projects with RERA. They are all now registering their projects with us,” Kumar said.
He also said that in total over 100 projects have been registered so far with RERA in Delhi. He warned that if any developer or government department undertaking real estate projects fails to register, it will attract action including a penalty of up to 5 percent of the total project cost.
As per Section 3 of the Real Estate (Regulation and Development) Act, 2016, all real estate projects being developed in the National Capital Territory are compulsorily required to be registered with Delhi RERA, including those being developed, either in part or full, on a plot size of more than 500 square metres for the purpose of sale or lease.
This also applies to real estate projects being developed that have more than eight flats, apartments, floors, shops and commercial or office units in all phases on any size of plot for the purpose of sale or lease.
Kumar also said that in cases of redevelopment of properties, which is common in Delhi, those involved should ask their builder to register the project with the RERA for safeguarding their interests.
“If any plot owner goes for redevelopment and collaborates with a developer, then first he or she should ask the developer to register the project with us. Once the project is registered, we will monitor the project every three months. RERA will check if the building is being made correctly, the structure is right and proper money is being spent or not,” Kumar said.
He said that even if the project is not registered and redevelopment work has started, then too the builder or the plot owner can approach the authority and register the project.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
