By Aryan Chaudhary
From August, registration of commercial, industrial and mixed use projects with RERA under plotted development schemes would get costlier in Rajasthan.
Shailendra Agarwal, member and acting chairman RERA Rajasthan
Real Estate Regulatory Authority ( RERA ), the regulatory body which seeks to protect home buyers while boosting investment in real estate industry, has issued an order wherein it has made amendment to link the standard fee being deposited for development of townships or any other plotted schemes with land use. The authority, however has not made any changes in registration charges.
As per the new provision, while the registration charges for all kind of projects (irrespective of land use) under plotted development would be uniform at Rs 5 per square metre, standard fee would vary depending on the land use. At present both registration charge and standard fee is Rs 5 per sq metre irrespective of land use.
“Standard fee for residential, institutional and government reserved areas would remain at Rs 5 per square metre while for commercial, industrial and mixed use projects, it would be double at Rs 10 per square metre,” the order said.
The charges would be applicable for projects to be registered from August 1, 2023. For all applications received till July 31, 2023, existing charges would be applicable.
The decision is not likely to affect the real estate developers much as gated townships do not have much commercial space.
“Since there is no change in standard fee for residential use, there won't be much impact as commercial space is limited in townships. But we will definitely give a representation against this RERA order. We were not consulted on this issue. The regulatory body should have taken our views before fixing any charge,” said Sanjay Gupta, president of CREDAI Rajasthan, the apex body of private real estate developers and organised builders.
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