(1) Upon the notification for commencement of sub-section (1) of section 3, the promoter of an ongoing project which has not received completion certificate shall, within the time specified in the said sub—section, make an application to the Authority as provided in rule 3.
(2) The promoter shall in addition to disclosures provided in rule 3 disclose the following information, namely:-
(a) the original sanctioned plan, layout plan and specifications and the subsequent modifications carried out, if any, including the existing sanctioned plan, layout plan and specifications;
(b) the total amount of money collected from the allottees and the total amount of money used for development of the project including the total amount of balance money lying with the promoter;
(c) status of the project (extent of development carried out till date and the extent of development pending) including the original time period disclosed to the allottee for completion of the project at the time of sale including the delay and the time period within which he undertakes to complete the pending project, which shall be commensurate with the extent of development already completed, and this information shall be certified by an engineer, an architect and a chartered accountant in practice.
(3) The promoter shall disclose the size of the apartment based on carpet area even if earlier sold on any other basis such as super area, super built up area, built up area etc. which shall not affect the validity of the agreement entered into between the promoter and the allottee to that extent.
(4) In case of plotted development, the promoter shall disclose the area of the plot being sold to the allottees as per the layout plan.
(5) For projects that are ongoing and have not received completion certificate, on the date of commencement of the Act, the promoter shall, within a period of three months of the application for registration of the project with the Authority, deposit in the separate bank account, seventy percent, of the amounts already realized from the allottees, which have not been utilized for construction of the project or the land cost for the project as required under sub-clause (D) of clause (I) of sub—section (2) of section 4, which shall be used for the purpose specified therein.
5. Grant or rejection of registration of project.--- (1) Upon the registration of a project as per section 5 read with rule 3 and rule 4, as the case may be, the Authority shall issue a registration certificate with a registration number in Form 'C’ to the promoter.
(2) In case of rejection of the application as per section 5 the Authority shall inform the applicant in Form 'D’:
Provided that the Authority may grant an opportunity to the applicant to rectify the defects in the application within such time period as may be specified by it.
6. Extension of registration of project.--- (1) The registration granted under the Act, may be extended by the Authority, on an application made by the promoter in Form 'E’, in triplicate, until the application procedure is made web based, within three months prior to the expiry of the registration granted.
(2) The application for extension of registration shall be accompanied with a demand draft or a bankers cheque drawn on any scheduled bank or through online payment mode, as the cause may be, for an amount equivalent to half the registration fees as prescribed under sub—rule (3) of rule 3 along with an explanatory note setting out the reasons for delay in the completion of the project and the need for extension of registration for the project, along with documents supporting such reasons:
Provided that where the promoter applies for extension of registration of the project due to force majeure he shall not be liable to pay any fee.
(3) The extension of registration of the project shall not be beyond the period provided as per local laws for completion of the project or phase thereof, as the case may be.
(4) In case of extension of registration, the Authority shall inform the promoter about such extension in Form 'F’ and in case of rejection of the application for extension of registration the Authority shall inform the promoter about such rejection in Form ’D’
Provided that the Authority may grant an opportunity to the promoter to rectify the defects in the application within such time period as may be specified by it.
7. Revocation of registration of the project.--- Upon the revocation of registration of a project as per section 7, the Authority shall inform the promoter about such revocation in Form 'D’.
CHAPTER III REAL ESTATE AGENT
8. Application for registration by the real estate agent.--- (1) Every real estate agent required to register as per sub-section (2) of section 9 shall make an application in writing to the Authority in Form 'G’, in triplicate, until the application procedure is made web based, along with the following documents, namely:—
(a) the brief details of the enterprise including its name, registered address, type of enterprise (proprietorship, societies, partnership, company etc.);
(b) the particulars of registration (whether as a proprietorship, societies, partnership, company etc.) including the bye-laws, memorandum of association, articles of association etc. as the case may be;
(c) name, address, contact details and photograph of the real estate agent, if it is an individual and the name, address, contact details and photograph of the partners, directors etc. in case of other entities;
(d) the authenticated copy of the PAN card of the real estate agent;
(e) the authenticated copy of the address proof of the place of business.
(2) The real estate agent shall pay a registration fee at the time of application for registration by way of a demand draft or a bankers cheque drawn on any scheduled bank or through online payment, as the case may be, for a sum of ten thousand rupees in case of the applicant being an individual or fifty thousand rupees in case of the applicant other than an individual.
9. Grant or registration to the real estate agent.--- (1) on receipt of the application under rule 8, the Authority shall within a period of thirty days either grant registration to the real estate agent or reject the application, as the case may be:
Provided that the Authority may grant an opportunity to the real estate agent to rectify the defects in the application within such time period as may be specified by it.
(2) Upon the registration of a real estate agent, the Authority shall issue a registration certificate with a registration number in Form ’H’ to the real estate agent.
(3) In case of rejection of the application, the Authority shall inform the applicant in Form 'l’.
(4) The registration granted under this rule shall be valid for a period of five years.