Real estate developers have to pay more from August 1 for registering their plotted and commercial schemes under Rajasthan Real Estate Regulatory Authority (RERA) as the authority has increased fees.
As per the RERA rule, if a promoter proposes to develop a project comprising nine or more plots, on a piece of land having an area of more than 500 square metre, then the project is liable to be registered under RERA.
Now, the RERA has revised the registration charges and fixed Rs 10 per square metre as standard fee.
RERA registrar has issued an order in this regard and the new regulations will be applicable on the schemes from August 1. “The current registration fee for plotted development projects on residential plots is Rs 5 per square metre. For commercial, industrial, and mixed-use plots, it is also Rs 5 per square metre. However, now the authority has decided to introduce a standard fee in addition to this registration fee. This standard fee will be charged at the rate of Rs 5 per square metre for residential plots and Rs 10 per square metre for commercial, industrial, and mixed-use plots.”
According to RERA sources, this standard fee will be applicable not only to schemes launched by private developers but also to schemes initiated by government agencies, such as municipalities, Urban Improvement Trusts, development authorities, Rajasthan State Industrial Development and Investment Corporation and housing boards.
