Karnataka Real Estate Regulatory Authority (General) Regulations, 2022

 

[27th October 2022]

In exercise of the powers conferred by section 85 of the Real Estate (Regulation and Development) Act, 2016 (Central Act 16 of 2016), the Karnataka Real Estate Regulatory Authority, with the approval of the State Government, hereby makes the following regulations, namely: -

Regulation - 1. Title, commencement and application.

(1)     These regulations may be called the Karnataka Real Estate Regulatory Authority (General) Regulations, 2022.

(2)     They shall come into force on the date of their publication in the official Gazette.

(3)     These regulations shall apply to all matters falling within the jurisdiction of the Authority in the state of Karnataka.

Regulation - 2. Definitions.

(1)     In these regulations, unless the context otherwise requires, -

(a)      "Act" means the Real Estate (Regulation and Development) Act, 2016 (Central Act 16 of 2016);

(b)      "Address for service" means the address furnished by the party or applicant or his authorized agent or legal practitioner or chartered accountant or company secretary or cost accountant, at which service of the summons, notice or other processes may be effected;

(c)      "Adjudication" means the process of arriving at decisions on complaints submitted to the Authority or the Adjudicating Officer under section 31 of the Act;

(d)      "Authority" means the Karnataka Real Estate Regulatory Authority established under sub-section (1) of section 20 of the Act;

(e)      "Certified copy" means as defined under section 76 of the Indian Evidence Act, 1872 (Central Act 1 of 1872);

(f)       "Code" means the Code of Civil Procedure, 1908 (Central Act 5 of 1908) in relation to civil matters and the Code of Criminal Procedure, 1973 (Central Act 2 of 1974) in relation to criminal matters;

(g)      "Complainant" means a person who has filed a complaint before the Authority or the adjudicating officer under section 31 or 71 of the Act;

(h)     "Consultant" means and includes any person who may be appointed as such to assist the Authority on any matter required to be dealt with, by the Authority under the Act, and rules and regulations made there under;

(i)       "Form" means the form appended to these regulations;

(j)       "Media" means and include newspapers, magazines, periodicals, journals, radio, television, internet and other social media platforms;

(k)      "No Lien Account" means a Bank Account without any third party rights or security interests;

(l)       "No Lien fixed deposit" means the fixed deposit without any third party rights or security interests;

(m)    "Officer" means an officer of the Authority;

(n)     "RERA Bank Account" means the separate Bank Account to be maintained by the promoter in the local branch of a scheduled bank, where the

(o)      project is going on, as per sub-clause (D) of clause (l) of sub-section (2) of section 4 of the Act;

(p)      "Rules" mean the Real Estate (Regulation and Development) Rules, 2017; and

(q)      "Secretary" means the secretary of the Authority;

(2)     Words and expressions used but not defined in these regulations shall have the same meanings assigned to them in the Real Estate (Regulation and Development) Act, 2016 (Central Act 16 of 2016) and rules made thereunder.

Regulation - 3. Formats of Certificates.

(1)     The promoter shall designate a chartered accountant, architect and engineer who shall issue certificates for the project to enable the withdrawal of amounts from the RERA Bank Account and for work completion and such designated chartered accountant, architect or engineer shall not be removed, without prior concurrence of the Authority. The certificates shall be issued in the following manner, namely:-

(i)       The certificate to be issued by the chartered accountant, project architect and project engineer, in practice for post-registration of the real estate project shall be in Form-1, Form-2 and Form-3 respectively;

(ii)      the certificate required to be issued by the chartered accountant, project architect and project engineer in practice, for quarterly updates of the real estate project shall be in Form-4, Form-5 and Form-6 respectively;

(iii)     the annual audit report on statement of accounts shall be in Form-7, which shall be issued in accordance with clause (l) of sub-section (2) of section 4 of the Act and shall be certified and signed by the statutory auditor of the promoters enterprise;

(iv)    application for the change of RERA Bank Account shall be in Form-B1;

(v)      the certificate to be issued by the chartered accountant for change of the RERA Bank Account shall be in Form-B1-A;

(vi)    the certificate to be issued by the existing Bank for change of RERA Bank Account shall be in Form-B2;

(vii)   the certificate to be issued by the proposed Bank for transfer of funds to RERA Bank Account shall be in Form-B3;

(viii)  the certificate to be issued by the promoter on confirmation of change of RERA Bank Account shall be in Form-B4;

(ix)    the certificate to be issued by the project architect in practice for project extension about status of work and pending work shall be in Form-F1;

(x)      the certificate to be issued by the chartered accountant in practice for project extension about fund required shall be in Form-F2;

(xi)    the certificate to be issued by the project engineer in practice for project extension about status of work and pending work shall be in Form-F3;

(xii)   the consent letter from the allottees for modification of the sanctioned plan shall be in Form-M

(xiii)  the application for change of project name, address, RERA Bank Account details, promoter name, address or e-mail address or mobile number shall be in Form-U;; and

(xiv)  the application for change of the promoter shall be in Form-V.

Explanation: The chartered accountant certifying the progress of the registered real estate project for the purpose of withdrawal of amounts from the RERA Bank Account shall be a different entity than the chartered accountant who is statutory auditor of the promoters enterprise.

(2)     If the Form-7 issued by the statutory auditor reveals that any certificate issued by the chartered accountant, project architect or project engineer has false or incorrect information, the amount collected for a particular project has not been utilised for the project or withdrawals are not commensurate with the development of the project, the Authority shall, apart from taking action against the promoter under the Act, and rules and regulations made there under, shall also bring the matter to the concerned respective regulatory body of the said chartered accountant, architect or project engineer, for necessary penal action against them.

(3)     The sanctioned plans and lay-out plans, along with the specifications approved by the competent authority, shall be prominently displayed by the promoter at the project site and the registered office of the promoter. Non compliance of this shall be deemed to be contravention under cause (a) of subsection (1) of section 7 of the Act and shall be liable for penalty under section 61 of the Act.

Regulation - 4. Language of the Authority.

The language of the Authority shall be Kannada and English.

Regulation - 5. Seal and emblem.

The Authority shall have its own official seal and emblem and any document requiring authentication by the Authority shall be issued under the seal of the Authority and shall be signed by the secretary or any other officer authorised by the Chairperson on this behalf.

Regulation - 6. Computation of time.

(1)     Where a period of time and date from a specified day, act or event is specified by or allowed under these regulations for doing an act or taking a proceeding, the time shall be reckoned exclusive of the said day or of the day of the act or event from which the time runs.

(2)     Where the time specified by or allowed under these regulations for doing an act or taking a proceeding expires on a holiday or on a day on which the office of the Authority is closed, the act may be done or the proceeding may be taken on the next working day or on the day on which the office is open.

Regulation - 7. Meeting.

(1)     The Authority shall meet, as and when it is deemed necessary to transact its business, but not less than four times in a year.

(2)     The Chairperson or in his absence, by a member nominated by the Chairperson in this behalf, shall fix the date, time and place of a meeting of the Authority and approve the subjects of agenda for the meeting.

(3)     The Chairperson shall be required to convene a meeting of the Authority if any two members request for such a meeting, in writing:

Provided that, if the Chairperson is not available, any two members may, in writing, require the designated officer to convene such meeting of the Authority.

(4)     Any business of the Authority may be transacted by circulation of papers to the members and acted upon, if approved. The resolution shall be placed before the Authority in the next meeting for its confirmation.

(5)     Every meeting of the Authority shall normally be held at its head office, at such time as may be specified in the notice. When circumstances render it expedient to hold a meeting elsewhere, the same may, with approval of the Chairperson, be so held at any other place in Karnataka. In such a case, the notice convening such meeting shall specify the time and place of the meeting.

(6)     Remote participation: The meeting may be carried out using videoconferencing or any other electronic means. Members who participate in a meeting remotely shall be counted in establishing the quorum or majority. In the event of a remote participation, attendance records shall be noted as "Remote participation" by the secretary.

(7)     Not less than three working days notice shall ordinarily be given of each meeting of the Authority and such notice along with agenda shall be sent to every member, three working days in advance at his usual address in India as furnished by him to the Authority.

(8)     Notwithstanding anything contained in sub-regulation (1), where a requisitioned meeting of the Authority is required to be convened, three days notice may not be required. However, sufficient notice shall be given to the members to enable them to attend the meeting.

(9)     The notice, agenda and the minutes shall be delivered to the members personally upon acknowledgement or dispatched through registered post or transmitted through any other secure and reliable modern means of communication, as may be recognized under law for the time being in force.

(10)   No business other than that for which the meeting has been convened shall be discussed at a meeting of the Authority, except with the consent of the Chairperson or the member presiding at the meeting and a majority of the members present.

Regulation - 8. Quorum for meeting.

(1)     The quorum for transaction of business at a meeting of the Authority shall be a minimum of one-half of the appointed members present, with minimum of two members.

Explanation: While calculating the one-half of total strength under sub regulation (1), if any fraction that might arise, shall be disregarded.

(2)     If the quorum is not formed within half an hour from the time appointed for holding a meeting, the Chairperson or the presiding member, as the case may be, shall adjourn the meeting for such hour on some other day as he may deem fit and the notice of such adjournment shall be given to all the members along with the business which was to have been brought before the original meeting. If the quorum is not formed at the meeting so adjourned, the members present at the meeting shall form the quorum.

Regulation - 9. Minutes of meeting.

(1)     The secretary or the designated officer shall record the minutes of meeting and maintain a register which shall, amongst other things, contain the name and designation of the members and invitees present in the meeting, a record of the proceedings and notes of dissent, if any. The draft minutes shall, as soon as practicable, be sent to the Chairperson and the attending members.

If no comments or confirmation is received from a member within seven days, the minutes shall be issued with approval of the Chairperson or presiding member. The designated officer shall also communicate, with the approval of the Chairperson or the presiding member, the minutes or extracts of the decision taken at the meeting to all concerned for necessary follow-up action and monitor their compliance by evolving a suitable reporting system. Periodical reports on follow-up action shall be submitted to the Authority.

(2)     The minutes of the previous meeting shall be confirmed by circulation or at the next meeting of the Authority. The confirmed minutes shall be signed by the Chairperson or presiding member and taken on record thereafter. Each page of every book shall be initialed or signed and the last page of the record of the confirmed proceedings of each meeting in such books shall be dated and signed by the Chairperson or the presiding member and shall be taken on record.

(3)     The minutes of the proceedings kept in accordance with these regulations shall be evidence of the proceedings recorded therein.

(4)     The Authority shall cause the minutes of all the proceedings to be maintained in the books kept for the purpose which may be in the form of binders containing loose leaves, duly numbered and bound regularly. In no case the minutes of the proceedings of a meeting shall be attached to any such book as aforesaid by pasting or otherwise.

(5)     Notwithstanding anything in sub-regulation (5), the minutes may also be kept by way of micro films or any other authentic modern means of safe storing and retrieval of records or printed material produced by a computer, if the same is recognised under any law for time being in force and subject to the conditions, restrictions or safeguards specified in such law.

(6)     The minutes of each meeting shall contain a fair and correct summary of the decision arrived at the meeting.

(7)     The minutes shall also contain the name of the members present at the meeting and in the case of each decision taken at the meeting, the names of the members, if any, dissenting from or not concurring with the decision taken by majority.

(8)     Nothing contained in this regulation shall deem to require the inclusion in any such minutes of any matter which are detrimental to the interest of the Authority.

Explanation: The Chairperson or the presiding member, as the case may be, shall exercise discretion in regard to the inclusion or non-inclusion of any matter in the minutes as specified in this sub-regulation.

(9)     Invitees at meeting: Any person, whose presence at a meeting is desired for consultation or advice, may be invited to attend the meeting by the Chairperson.

Regulation - 10. Obligation of members at the meeting.

(1)     A member shall attend all the meetings of the Authority, unless leave of absence has been sought and the same has been granted by the Chairperson or the presiding member. Such leave of absence shall be recorded in the minutes of the meeting.

(2)     Any member who has a direct or indirect pecuniary or other interest in any matter, including those relating to immediate family, coming up for consideration in the meeting, shall not take part in such deliberation or decision of the Authority, with respect to that matter.

Explanation: For the purpose of this regulation, immediate family means spouse, children (whether biological or adopted), parents, brothers, sisters or any person related by blood or marriage, whether he is dependent on such member or not.

Regulation - 11. Procedure for scrutiny of complaint, reference and review petition.

(1)     The complaints regarding compensation etc., in Form-N or Form-O (the forms appended to the rules) shall be lodged in the Karnataka RERA web portal, along with the fee specified. Whenever an unregistered real estate project is brought to the notice of the Authority, it may direct the complainant to provide the details of promoter and address to enquire.

(2)     If the Authority finds after due enquiry that the particular project has to be registered with the Authority, the Authority shall initiate appropriate proceedings to register the project.

(3)     Each complaint, appeal, review petition or reference received by the Authority shall be scrutinized by the authorised officer to check whether it conforms to these regulations and the defects, if any, shall be communicated to the party within a seven days.

(4)     The Authority, by order, shall have the powers of formation of benches among the Chairperson and members, for effective and timely disposal of the complaint, appeal, review application, revision petition or reference or to exercise any of its powers.

(5)     Nothing contained herein shall preclude the Authority from using the contents of such complaint, appeal, petition, revision application, review petition or reference in any manner as may be deemed fit, for inquiring into any possible contravention of any provisions of the Act, and rules and regulations made there under.

Regulation - 12. Adjudication proceedings.

For adjudication proceedings with respect to complaints filed with the Authority, the Authority may, by order, direct that specific matters or issues be heard and decided by a single bench of either the chairperson or any member of the Authority.

Regulation - 13. Authorised representative.

A person who is a party to any proceedings before the Authority may either appear in person or authorize any other person to present his case before the Authority and to do all or any of the acts for that purpose:

Provided that, the person appearing on behalf of any person in any proceeding before the Authority, shall file a memorandum of authorization, prior to the proceedings and an acknowledgement shall be obtained for the same.

Regulation - 14. Collection of information.

The Authority may issue such directions for the purpose of collection of any information, particulars or documents that the Authority may consider necessary in connection with the discharge of its functions under the Act, and rules and regulations made there under.

Regulation - 15. Investigation.

(1)     The Authority at any time, direct the secretary or any other officer or person as the Authority considers appropriate, to study, investigate or furnish information with respect to any matter within the jurisdiction of the Authority, under the Act, and rules and regulations made there under.

(2)     The Authority may, for the above purpose of sub-regulation (1), give such other directions as it may deem fit and state the time within which the report is to be submitted or information be furnished.

Regulation - 16. Orders of the Authority.

(1)     The Authority (Chairperson or member) hearing the proceeding shall pass orders with reasons and such orders shall be signed by the Chairperson or member of the Authority, hearing such proceeding.

(2)     All the orders and decisions issued by the Authority shall be certified by the signature of the secretary or an officer empowered on this behalf by the Chairperson and shall be affixed with the seal of the Authority and be communicated, as expeditiously as possible from the date of passing thereof, to all the parties of the proceeding.

Regulation - 17. Interim order.

The Authority may pass such ad-interim or interim order, as the Authority may consider appropriate at any stage of the proceedings, having regard to the facts and circumstances of the case.

Regulation - 18. Compliance of orders.

The Authority or the Adjudicating officer shall have the power to direct the parties concerned to file an affidavit of compliance of its order or such other document in the manner specified in its order.

Regulation - 19. Certified copies of the order.

(1)     The Authority shall, on such terms and conditions as it considers appropriate, provide for supply of certified copies of documents or final order or judgment and order papers available with it to any person, applying in the specified form, by making payment of rupees one hundred per copy of the order, containing up to a maximum of ten pages. If the pages exceed ten, then for every extra page a sum of rupees two per copy shall be paid.

(2)     The parties to the proceedings are entitled to get a copy of the final order or judgment and order of the Authority or the Adjudicating officer, either by post or in person, free of cost:

Provided that, if required the additional copy, by the parties, shall be provided on payment of fee as specified in sub-regulation (1).

(3)     The Authority shall designate an officer for ensuring timely response to the requests received for supply of certified copies of documents, who shall endeavor to dispatch the certified copies of the documents requested for, as expeditiously as possible, within a period of thirty working days from the date of receipt of request.

(4)     The Authority may, by order, classify any information, document and papers or materials maintained by it, to be confidential or privileged and direct that it shall not be available for inspection or supply of certified copy. The Authority may also direct that such document, paper or material shall not be used in any manner, except as specifically authorized by it.

(5)     In case of maps, plans etc., a reasonable fee having regard to the skill, labour and time required for preparing the copy shall be fixed in each case by the secretary or officer in-charge and the same shall be deposited by the party applying for it. The whole of such fee so fixed shall be paid to the person employed for preparing such copy, who shall use his own material for that purpose.

(6)     Before a copy is delivered, it shall be certified and sealed by the authorised officer in the manner prescribed under section 76 of the Indian Evidence Act, 1872.

(7)     The Authority may, by an order, fix standard fee to be levied on the promoters, real estate agents or allottees, for inspection of documents, certified copies of documents and database management.

Regulation - 20. Inspection of records.

Inspection of documents shall be allowed in accordance with the Right to Information Act, 2005 (Central Act 22 of 2005) and rules made there under.

Regulation - 21. Destruction of records.

(1)     Records pertaining to general administration, accounts and service matters of the employees and officers of the Authority shall be maintained as specified by the State Government.

(2)     Records pertaining to registration of projects and complaints shall be maintained as per the procedure specified under Code of Civil Procedure, 1908.

(3)     One copy of the entire file including note file and documents pertaining to the registration of projects shall be kept as permanent record. The other copies of the same registration file shall be destroyed after a period of six years from the date of registration.

(4)     Records of the Authority, except permanent records, shall be destroyed by the order of the designated officer, after six years from the final conclusion of the proceedings and if any appeal is filed under section 44 of the Act, the same shall be destroyed after two years from the date of disposal of the appeal only after the approval of the Authority. The documents shall be destroyed in such manner, so as to render them unfit for any misuse.

(5)     Entries regarding destruction shall be made in the relevant columns of the destruction register maintained in the specified format.

Explanation: Permanent records shall include orders, complaint register, interlocutory application register and such other records, as may be ordered to be included by the Chairperson.

Regulation - 22. Continuance of proceedings after death, etc.

(1)     Where in a proceeding, any of the parties dies or is adjudicated as insolvent or in the case of a company, under liquidation or being wound up, the proceeding shall continue with the successors-in-interest, executor, administrator, receiver, liquidator or other legal representative of the party concerned, as the case may be.

(2)     In case any person proposes to bring on record, the successors-ininterest, an application for the purpose shall be filed within the due date of the disposal of the complaint or application.

Regulation - 23. Effect of non-compliance.

Failure to comply with any requirement of these regulations shall not invalidate any proceeding, merely by reason of such failure, unless the Authority or the adjudicating officer is of the view that such failure has resulted in miscarriage of justice.

Regulation - 24. Power to remove difficulties.

If any difficulty arises in giving effect to any of the provisions of these regulations, the Authority may, by general or special order, do anything which is not inconsistent with the provisions of the Act and rules made thereunder, which appears to be necessary or expedient for the purpose of removing the difficulties.

Regulation - 25. Saving of Inherent power of the Authority.

(1)     Nothing in these regulations shall be deemed to limit or otherwise affect the inherent power of the Authority to make such orders as may be necessary for meeting the ends of justice or to prevent the abuse of the process of the Authority.

(2)     Nothing in these regulations shall bar the Authority from adopting in conformity with the provisions of the Act or rules made thereunder, a procedure, which is at variance with any of the provisions of these regulations including summary procedures, if the Authority, in view of the special circumstance of a matter or class of matters and for reasons to be recorded in writing, deems it necessary or expedient for so dealing with such a matter or class of matters.

(3)     Nothing in these regulations shall bar the Authority to deal with any matter or exercise any power under the Act or rules made thereunder for which no regulations have been framed and the Authority may deal with such matters, powers and functions in a manner it thinks fit.

Regulation - 26. General power to amend or rectify.

The Authority may, at any time and on such terms as to costs or otherwise, as it may think fit, amend any defect or error in any proceedings before it, including any clerical or arithmetical error in any order passed by the Authority and all necessary amendments, rectifications shall be made for the purpose of determining the real question or issue arising in the proceedings:

Provided that, if the Authority desires to make amendments or rectifications in order to determine the real question or issue arising, the Authority shall provide an opportunity to the parties affected by such amendment or rectification touching the real question or issue to make representations and submissions with respect to the proposed amendment or rectification.

Regulation - 27. Extension or abridgement of time prescribed.

Subject to the provisions of the Act or rules made thereunder, the time prescribed under these regulations or by order of the Authority for doing any act may be extended, whether it has already expired or not, or abridged for sufficient reason, by an order of the Authority.

Regulation - 28. Costs.

(1)     Subject to such condition and limitation as may be directed by the Authority, the costs of and incidental to, all proceedings shall be awarded at the discretion of the Authority and the Authority shall have power to determine by whom or out of what funds and to what extent such costs are to be paid and shall give all necessary directions for the aforesaid purposes.

(2)     The costs shall be paid within thirty days from the date of the order or within such time as the Authority may, by order, direct. If a party fails to comply with an order for costs within the permitted period, the order of the Authority awarding costs shall be executed forthwith in the same manner as a decree or order of a civil court.

Regulation - 29. RERA Bank Account.

(1)     General guidelines: The RERA Bank Account shall be a No Lien account and withdrawal from the account shall be in accordance with the provisions of the Act, rules and regulations made thereunder. The amount withdrawn from the RERA Bank Account shall be utilised for the purpose of completion of the same real estate project. However, there is no end use restriction on the amount which is withdrawn from the RERA Bank Account, in accordance with the provisions of the Act, rules and regulations made there under.

(2)     Account opening: A RERA Bank Account shall be opened before applying for registration and maintained for each of the registered project of the promoter, in the local branch of a scheduled bank, where the project is going on. Details of the RERA Bank Account shall be submitted along with the project registration application. It shall be required to suffix the term "RERA Designated account for name of the project, real estate project" with the name of the account holder.

Illustration: if the name of the promoter is M/s ABC Ltd and the name of the project is XYZ, then the name of the account shall be "ABC-RERA Designated Account of XYZ".

Each project shall have only one RERA Bank Account. In case of multiple promoters, necessary contractual or legal arrangements shall be made by the principal promoter, who shall register the project, to ensure proper operation of the account.

(3)     Deposits: The promoter shall deposit seventy percent of the amount collected or realized from allottees (other than pass through charges and indirect taxes), in the RERA Bank Account. In case of project which is higher than the estimated value of sales revenue, hundred percent of the amount collected from the allottees (other than pass through charges and indirect taxes), shall be deposited in the RERA Bank Account. The money present in the RERA Bank Account may be kept in fixed deposit with the bank and such fixed deposit shall be No Lien Fixed Deposit and no loan shall be obtained against and no charge shall be created on such fixed deposit.

(4)     Reporting: The promoter shall submit Form-4, Form-5 and Form-6 to the Authority for quarterly return filing compliance. The promoter shall get the accounts audited within six months after the end of every financial year by the statutory auditors of the promoters enterprises and shall submit a report on statement of accounts on project fund utilization and withdrawal by the promoter in Form-7. In case of a fixed deposit being made from the money in the RERA Bank Account, the chartered accountant shall verify that there is no lien or charge on such fixed deposit. The promoter and/or chartered accountant shall obtain the no lien or charge certificate in respect to such fixed deposit from the bank once in every three months and submit the same as part of quarterly compliance return.

The promoter shall append copy of the RERA Bank Account pass book statement certified by chartered accountant to Form - 4, as part of the project quarterly return submission.

(5)     Change of RERA Bank Account: The promoter may change the RERA Bank Account from one bank to another bank only with prior permission of the Authority. For RERA Bank Account change request, promoter shall submit through Authoritys web portal along with fee and documents in the following forms, namely:-

(i)       application for change in RERA Bank Account in Form-B1(A);

(ii)      copy of the Board resolution;

(iii)     No objection certificate (NOC) from the existing Bank Account branch in Form-B2 along with account statement up to closing date;

(iv)    proposed RERA Bank Account to be opened;

(v)      reason for change of RERA Bank Account along with supporting documents;

(vi)    fund transfer compliance letter in Form-B3, along with confirmation letter of RERA Bank Account closure in Form-B4; and

(vii)   up to date compliance reports under sub-section (1) of section 11 of the Act.

(6)     Power of the Authority: Upon revocation of the registration, the Authority may direct the bank holding the RERA Bank Account, to freeze or de-freeze the said account, to facilitate the remaining development works in accordance with the provisions of clause (c) of sub-section (4) of section 7 and section 8 of the Act. The Authority may, in the interest of the allottees, enquire into the payment of amount out of RERA Bank Account.

 

FORM – 1

(see clause (i) of sub-regulation (1) of regulation 3)

CERTIFICATE BY CHARTERED ACCOUNTANT

(On Letter head)

(Registration)

I, _________________________ (full name of the CA) am a proprietor/partner of the firm __________________________(full name of the firm as per ICAI records) is a member of Institute of Chartered Accountants of India holding Certificate of practice (ICAI Membership No. _________) having office at _________________________ (full office address) issuing this certificate with respect to the real estate project being registered with Karnataka RERA.

I have undertaken to issue the Chartered Accountants certificates as mandated U/s. 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 read with Karnataka Real Estate (Regulation and Development Rules) 2017 to facilitate the promoter to withdraw the money from the RERA Designated Bank Account based on the percentage of completion of the Project.

(1)     This is to certify the details of M/s. ________________________ (name of the promoter) having their office at ____________________________ (full address of the promoter) being the promoter of the Real Estate Project ________________________ (name of the project as per application).

(2)     The Promoter of the proposed real estate project is an Individual/Partnership Firm / LLP / Company / Society / Others. I have verified the ownership document of the entity and present owners and details of the entity are as below:

(mention the relevant details based on the type of promoter entity)

(1)     Additional details of the Promoter:

(2)     The project being developed is plotted development / group housing / villa project / commercial / mixed development / industrial project. The promoter has obtained necessary sanctioned plan from the competent authorities. The project address being _________________________ (mention full address as mentioned in the sanctioned plan).

(3)     The promoter of the project has opened the RERA Designated Bank Account for the proposed project and details are as below:

(i)       Name of the Account Holder:

(ii)      Designated Account Number:

(iii)     Bank Name:

(iv)    IFSC Code:

(v)      Branch Name:

(vi)    Account Name as per Bank Records

(based on pass sheet / pass book etc)

(4)     The promoter has provided the details of the estimated cost of the real estate project. I / We have reviewed the estimated cost of the project and details are as below. These values are based on the supporting documents provided by the promoter.

(5)     The Promoter of the Project has borrowed money from the following parties for the purpose of real estate project being registered:-

(6)     The Promoter of the project is in compliance with the section 3(1) of the RERA Act and it is certified that the promoter has not entered into any agreements in the sale of plot or units and booking amount or advance amounts have not been received from any of the allottees.

This certificate is issued to the promoter of the project for the purpose of RERA Registration. The detail of this certificate is prepared based on details, documents, information, undertaking provided by the promoter. This certificate shall not be used for any other purposes other than mentioned herein.

Date :

Place :

Note:

(1)     Fill all the details in this certificate, mention Not Applicable, do not leave blank.

(2)     The details of CA mentioned on the website shall be the same CA, who undertake to issue this certificate

(3)     Promoter shall not appoint or engage new CA without obtaining the No Objection Certificate from this CA for the purpose of withdrawal of funds from the project Bank Account in accordance with Sec 4(2)(l)(D) of the RERA Act

(4)     CA shall issue this certificate in accordance with ICAI Standards

 

FORM – 2

(see clause (i) of sub-regulation (1) of regulation 3)

CERTIFICATE BY ARCHITECT

(on Letter head)

(Registration)

 

Date:

RERA No.:

Project Name:

Promoter Name:

To,

The ________________ (Name and Address of Promoter).

Subject: Certificate of estimated Cost of construction work of ______________ Wing(s) of the ____________ phase of the project provisional of residential accommodation for _____________, situated on the Plot bearing C.N. No./CTS No./Survey no./Final Plot no. ________, ____________ District __________ PIN ____________ admeasuring ____________ sq.mts., area being developed by ______________.

Sir,

This certificate is issued in accordance with the provisions the Act read with the Karnataka Real Estate (Regulation and Development) Rules, 2017.

I have verified the sanctioned drawing. The work is as per the sanctioned drawing given by the Competent Authority with sanctioned drawing No. ____________.

I/We ___________ have undertaken assignment as Architect/Licensed surveyor of certifying estimated cost of Construction Work of the ___________Wing(s) of the ____________Phase of the Project, situated on the plot bearing C.N. No./CTS No./Survey no./Final Plot no.____________ of ________________ District ________________ PIN _____________ admeasuring ___________ sq.mts., area being developed by _____________.

Based on Site Inspection done on ____________, with respect to each of the Building/Wing of the aforesaid Real Estate Project, I certify that as on the date of this certificate, the estimated cost for each of the building/Wing of the Real Estate Project as registered vide number _______________ under Karnataka RERA is rupees ___________________.

Yours faithfully,

Name and Signature of Architect

COA No.:

Address:

Contact number:

E-mail ID:

Website link:

Date:

Place:

*Note: The same Architect is responsible for the completion of project. In case of change of the Engineer, approval shall be taken from the Authority.

 

FORM – 3

CERTIFICATE BY ENGINEER

(see clause (i) of sub-regulation (1) of regulation 3)

(on Letter head)

(Registration)

 

Date:

RERA No.:

Project Name:

Promoter Name:

To,

The ________________ (Name and Address of Promoter).

Subject: Certificate of estimated Cost for Development of (Project Name) for construction of ______________building(s)_____________Wing(s) of the ____________ phase, situated on the Plot bearing C.N. No./CTS No./Survey no./Final Plot no. ________, demarcated by its boundaries (latitude and longitude of the end points) __________to the North ____________ to the South _____________ to the East _________ to the West of Division _____________ village ______________ taluka ____________ District __________ PIN ____________ admeasuring ____________ sq.mts., area being developed by ______________(Promoter).

Sir,

This certificate is issued in accordance with the provisions of section 4(2) (l) (D) of the Act read with sub-rule (5) of rule 4 and rule 5 of the Karnataka Real Estate (Regulation and Development) Rules, 2017.

I have verified the sanctioned drawing. The work is as per the sanctioned drawing given by the Competent Authority with sanctioned drawing No. ____________. I am satisfied that the physical progress of the project is in accordance with that of the RERA registration application details.

I/We_______________ have undertaken assignment of certifying Estimated Cost for the Real Estate Project proposed to be registered under RERA, being ____________Building(s)/_________ Wing(s) of the __________ Phase situated on the plot bearing C.N. No/CTS No./Survey no./Final Plot no._____________ of Division _______________ village ______________ taluka ____________________ District ________________ PIN _______________ admeasuring _________________ sq.mts. area being developed by ________________ (Owner/Promoter).

We estimate Total Estimated Cost of completion of the building(s) of the aforesaid project under reference as Rs._______.

Yours faithfully,

Name and Signature of Engineer

Licence No.:

Address:

Contact number:

E-mail ID:

Website link:

Date:

Place:

*Note: The same Engineer is responsible for the completion of project. In case of change of the Engineer, approval shall be taken from the Authority.

 

FORM – 4

(see clause (ii) of sub-regulation (1) of regulation 3)

CERTIFICATE BY CHARTERED ACCOUNTANT

(on Letter head)

(to be uploaded by the promoter on his webpage on the RERA portal for quarterly updates)

 

Date:

KRERA Registration No.:

Project Name:

Promoter Name:

Cost of the real estate project:

Quarter Ending Date:

This certificate is issued in accordance with the provisions the Act read with the Karnataka Real Estate (Regulation and Development) Rules, 2017.

The promoter, in compliance with section 4 (2) (l) (D) of the Act, has deposited 70% of the amounts received from the allottees of this project in the following account:

Name of the Account Holder:

Designated Account No.(RERA Bank Account):

Bank Name:

IFSC Code:

Branch Name:

This certificate is being issued for the project _____________ with RERA Registration No. _______________, in compliance of the provisions of section 4(2)(l)(D) of the Act and based on the records and documents produced before me and explanations provided to me by the management of the Company. Qualification/Observations:

I hereby certify that the total amount collected or realised from the allottees on account of sale or booking of the units during the quarter is Rs._______________ (as per AA) out of which Rs. ___________________ is deposited into the project designated Bank Account as per section 4(2)(1)(D) of the Act.

Yours faithfully,

Name and Signature of Chartered Accountant:

Membership No.:

Address:

Contact number:

E-mail ID:

Website link:

UDI No.:

ADDITIONAL INFORMATION FOR PROJECTS

(1)     Estimated Balance Cost to Complete the Real Estate Project: ______

(Difference of Total Estimated Project cost less Cost incurred)

(2)     Balance amount of receivables from sold apartments as per statement appended to this certificate: ___________

(as certified by Chartered Accountant as verified from the records And books of Accounts)

(3)     (i) Balance Unsold area:

(to be certified by Management and to be verified by CA from the records and books of accounts)

(ii) Estimated amount of sales proceeds in respect of unsold apartments:

(calculated as per ASR multiplied to unsold area as on the date of certificate, to be calculated and certified by CA)

(4)     Estimated receivables of ongoing project:

(Sum of 2 + 3 (ii))

(5)     Amount to be deposited in Designated Account (70% or 100%):

(If amount at Sl. No. (4) is greater than at (1), then 70% of the balance receivables of Ongoing project shall be deposited in designated Account.

If amount at Sl. No. (4) is lesser than (1), then 100% of the balance receivables of Ongoing project shall be deposited in designated Account)

Statement for calculation of Receivables from the Sales of the Ongoing Real

Estate Project

(1)     Sold Inventory:

(2)     Unsold Inventory Valuation:

(Ready recknor rate as on the date of certificate of the Residential/commercial premises Rs.____________ per sm.)

This certificate is being issued for RERA compliance for the Company (Promoters Name) and is based on the records and documents produced before me and explanations provided to me by the management of the Company.

Yours faithfully,

Name and Signature of Chartered Accountant:

Membership No.:

Address:

Contact number:

E-mail ID:

Website link:

UDI No.:

Date:

Place:

Note:

(1)     UDI No. is mandatory.

(2)     This certificate shall be in accordance with section 4(2)(1)(D) of the Act read with the Karnataka Real Estate (Regulation and Development) Rules, 2017.

(3)     If there are no qualification/observations, shall be mentioned as NIL.

(4)     If the promoter has deposited money in other than the RERA designated Bank Account, report such deviation under qualification/observations.

(5)     Ensure that the information shall match with the information provided during registration or amended subsequently.

(6)     Sold includes booked apartment/plot.

 

FORM – 5

(see clause (ii) of sub-regulation (1) of regulation 3)

CERTIFICATE BY ARCHITECT

(on Letter head)

(To be uploaded by the promoter on his web page on the RERA portal for quarterly update)

 

Date:

RERA Registration No.:

Project Name:

Promoter Name:

To,

The _______________ (Name & Address of Promoter),

Subject: Certificate of percentage of Completion of Construction Work of __________Building/_______Wing of the _________ phase of the Project (KRERA Registration Number) situated on the Plot bearing C.N. No/CTS No./Survey no./Final Plot no. _________ demarcated by its boundaries (latitude and longitude of the end points)____________to the North___________ to the South __________ to the East _________ to the West of Division ____________ village ______________ taluk ________________District ___________PIN____________ admeasuring _______________ sq.mts. area being developed by _________________ (Promoter Name).

Sir,

This certificate is issued in accordance with the provisions the Act read with the Karnataka Real Estate (Regulation and Development) Rules, 2017.

I have verified the sanctioned drawing. The work is as per the sanctioned drawing given by the Competent Authority with sanctioned drawing No. ____________.

I/We _____________have undertaken assignment as Architect/Licensed surveyor of certifying percentage of completion of Construction Work of _________ Building/______ Wing of the __________ phase, situated on the plot bearing C.N. No.CTS No./Survey no./Final Plot no ____________ of Division __________ village ____________ taluka _____________ District _____________ PIN ____________ admeasuring _________________ sq.mts. area being developed by ____________(Promoter Name).

(1)     Following technical professionals are appointed by Owner/Promoter:- (as applicable)

(i)       M/s/Shri/Smt__________________________ as L.S./Architect

(ii)      M/s/Shri/Smt__________________________ as Structural Consultant

(iii)     M/s/Shri/Smt__________________________ as MEP Consultant

(iv)    M/s/Shri/Smt__________________________ as site supervisor

(2)     Based on the Site Inspection dated __________, with respect to each of the Building/Wing of the aforesaid Real Estate Project, I Certify that as on the date of this Certificate, the Percentage of Work done for each of the building /Wing of the Real Estate Project as registered vide number _________________, under KRERA is as per Table - A herein below. The percentage of the work executed with respect to each of the activity of the entire phase is detailed in Table - B.

 

Table – A

Building / Wing Number:____________

(to be prepared separately for each Building /Wing of the Project)

 

Table – B

Internal and External Development Works in respect of the entire Registered Phase/Project:
 

Any other facility / amenity which has been proposed in agreement of sale:

Yours Faithfully,

Name and Signature of Architect

Licence No.:

Address:

Contact number:

E-mail ID:

Website link:

Date:

Place:

*Note: The same Architect is responsible for the completion of project. In case of change of the Architect, approval shall be taken from the Authority.

 

FORM-6

(see clause (ii) of sub-regulation (1) of regulation 3)

CERTIFICATE BY ENGINEER

(on Letter head)

(to be uploaded by the promoter, on his web page on the RERA portal for quarterly updates)

Date:

RERA No:

Project Name:

Promoter:

Name:

To,

The _________________________ (Name & Address of Promoter),

Subject: Certificate of cost incurred for development of (Project Name) for Construction of ___________ building(s)/_________ Wing(s) of the ________ phase situated on the plot bearing C.N.No /CTS No./Survey No./ Final Plot no. ________ demarcated by its boundaries (latitude and longitude of the end points) _________ to the North __________ to the South ________ to the East _______to the West of Division ________ Village __________ Taluk __________ District __________ PIN __________ admeasuring __________ sq.mts area being development by (Promoter).

Sir,

This Certificate is issued in according with the provisions of section 4(2)(1)(D), the Real Estate (Regulation and Development) Act, 2016 read with rule 4(5) and 5 of the Karnataka Real Estate (Regulation and Development) Rules, 2017.

I have verified the sanctioned drawing. The work is as per the sanctioned drawing given by the Competent Authority with sanctioned drawing No. __________ I am Satisfied that the physical progress of the project in accordance with that of the RERA Registration Application details.

I/We____________________ have undertaken assignment of certifying Estimated Cost for the subject, Real Estate Project proposed to be registered under KRERA, being __________ Building(s)/__________ Wings(s) of the __________ phase situated on the plot bearing C.N./CTS No./survey no. /Final Plot no __________ of Division __________ Village __________ Taluk ____________________ District __________ PIN __________ admeasuring __________sq. mts area being developed by (Owner/Promoter).

(1)     Following technical professional are appointed by Owner /Promoter:-

(i)       M/s/Shri/Smt. _____________________ as L.S. /Architect

(ii)      M/s/Shri/Smt. _________________________ as Structural Consultant

(iii)     M/s/Shri/Smt. _________________________ as MEP Consultant

(iv)    M/s/Shri/Smt. __________________________ as Quantity Surveyor

(2)     We have estimated the cost of the completion to obtain Occupation Certificate/ Completion Certificate, of the Civil, MEP and Allied works, of the Building(s) of the project. Our estimated cost calculations are based on the drawings/plans made available to us for the project under reference by the developer and consultants and the schedule of items and quantity for the entire work as calculated by __________ quantity Surveyor* appointed by Developer/Engineer, and the assumption of the cost of material, labour and other inputs made by developer, and the site inspection carried out by us.

(3)     We estimate Total Estimated Cost of completion of the building(s) of the aforesaid project under reference as Rs. ___________ (Total of Table A and B).

The estimated Total Cost of project is with reference to the Civil, MEP and allied works required to be completed for the purpose of obtaining occupation certificate/completion certificate for the building(s) from the _______________ being the Planning Authority under whose jurisdiction the aforesaid project is being implemented.

(4)     The Estimated Cost Incurred till date is calculated at Rs. _____________ (Total of Table A and B). The amount of Estimated Cost Incurred is calculated on the base of amount of Total Estimated Cost.

(5)     The Balance Cost of Completion of the Civil, MEP and allied works of the Building(s) of the project to obtain Occupation Certificate / Completion Certificate from Rs ____________ (planning Authority) is estimated at Rs. ____________________ (Total of Table A and B).

(6)     I certify that the Cost of the Civil, MEP and allied work for the aforesaid Project as completed on the date of this certificate is as given in Table A and B below:

 

Table - A

Building bearing Number _________________ or called _________________ (to be prepared separately for each Building of the Real Estate Project):

 

Table – B

(to be prepared for the entire registered phase of the Real Estate Project)

Yours faithfully

Name and Signature of the Engineer

License No :

Address :

Contact No :

Email Id :

Website link :

Date :

Place :

NOTE:

(1)     The same Engineer is responsible for the completion of Project, in case of Change of the Structural Engineer approval need to be taken from the Authority.

(2)     The scope of work is to complete entire Real Estate Project as per drawings approved from time to time so as to obtain Occupation Certificate /Completion Certificate.

(3)     (*) Quantity survey can be done by office of Engineer or can be done by an independent Quantity Surveyor, whose certificate of quantity calculated can be relied upon by the Engineer. In case of independent quantity surveyor being appointed by Developer, the name has to be mentioned at the place narked () and in case quantity are being calculated by office of Engineer, the name of the person in the office of Engineer, who is responsible for the quantity calculated should be mentioned at the place marked (*).

(4)     The estimated cost includes all labour, material, equipment and machinery required to carry out entire work.

(5)     As this is an estimated cost, any deviation in quantity required for development of the Real estate Project will result in amendment of the cost incurred/to be incurred.

(6)     All components of work with specifications are indicative and not exhaustive.

Annexure A

List of Extra / Additional Items executed with Cost (which were not part of the original Estimate of Total Cost)

 

FORM – 7

(see clause (iii) of sub-regulation (1) of regulation 3)

ANNUAL REPORT ON STATEMENT OF ACCOUNTS

(For year ending: 31.3..............)

(On the letter head of chartered accountant who has a certificate of practice)

Date:

RERA No. :

Project Name :

Promoter Name :

To,

(Name and address of Promoter)

Subject: Report on Statement of Accounts on project fund utilization and withdrawal by (Promoter) for the period from _________to _________With respect to project _______________ RERA Registration Number ______________

Designated Bank Account Details :

Name of the Accounts Holder :

Designated Account Number :

Bank Name :

IFSC Code :

Branch Name :

(1)     This report in issued in accordance with the provisions of the Real Estate (Regulation and Development) Act, 2016 read with the Karnataka Real Estate (Regulation and Development Rules, 2017.

(2)     I/we have obtained all the necessary information and explanation from the Promoter/Company, during the course of our audit, which in my/our opinion are necessary for the purpose of this report.

(3)     I/we hereby confirm that I/we have examined the prescribed registers, books and documents, and the relevant records of [Promoter] for the period ended _________ and hereby certify that:

(i)       M/S. ____________ (Promoter) have completed _________ percentage of the project titled ______________ RERA Registration No. __________________ located at _____________

(ii)      Amount collected during the year for this project is Rs. _________ amounts collected till date is Rs. _________.

(iii) Amount withdrawn during the year for this project is Rs. _________ amount withdrawn till date is Rs. _________ (since inception of the project)

4. 1/we Certify that the [Name of Promoter) has utilized the amounts collected for _________ project only for that project and the withdrawal from the designated Bank Account(s) of the said project has been in accordance with the proportion to the percentage of completion of the Project (If not, please specify the amount withdrawn in excess of eligible amount or any other exceptions).

5. I/We certify that the details as per Annexure A and B are certified as per books of accounts and other details and documents furnished by the promoter of the project.

Signature and Stamp /Seal of the Signatory CA)

Name of the Signatory :

Membership No. :

Full Address :

Contact No :

Email ID :

Website Link :

UDIN Number :

Designated Account :

Date:

Place:

(Enclosures: Annexure A and B)

 

Annexure A

Format of Annual Accounts of the Project

(refer proviso 3 to section 4(2)(l)(D))

Total Amount collected from the allottees of the Project:

Table – A

(Mention whether above values are including/excluding Indirect taxes like VAT, Service Tax, GST etc)

We hereby declare that the details are as per the books of accounts, other relevant documents maintained by the promoter of the project.

Observations and Qualifications:

Signature and Seal of the Promoter Seal and Sign of Chartered Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

Amount incurred by the Promoter

Table - B

 

Promoter Name

RERA Registration Number

Project Name

Financial Year

Signature and Seal of the Promoter Seal and Sign of Chartered Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

Signature and Seal of the Promoter Seal and Sign of Chartered Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

Utilisation of funds having withdrawn from the project designated Bank Account:

Note:

Promoter has withdrawn from designated Bank Account and not utilized in accordance with the provisions of RERA for the Project Rs. _________________.

We hereby declare that the details are as per the books of accounts maintained by the promoter.

Signature and Seal of the Promoter Seal and Sign of Chartered Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

Summary of total collections and realization from the allottees

Table C

We hereby declare that the details are as per the books of accounts and documents maintained by the promoter. The Chartered Accountants may provide note.

Signature and Seal of the Promoter Seal and Sign of Chartered

Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

Liabilities on the Project as on __/__/20xx

 

Table D

Part A - Liability towards the project development:

We hereby declare that the details are as per the books of accounts maintained by the promoter of the project.

Observations and Qualifications:

Signature and Seal of the Promoter Seal and Sign of Chartered Accountant

Name, Address, ICAI M. No., UDI No.

Name:

Designation:

Place:

Date:

 

Annexure B

Annexure to Annual Report on Statement of Accounts in Form 7 to be issued by Chartered Accountant in practice to certify the Statement of Account in accordance with section 4(2)(L)(D) of the RERA Act 2016, and KRERA Rules, 2017

Observations and Qualifications:

I / We have obtained all necessary information and explanation from the promoter, during the course of our audit, which in my / our opinion are necessaryfor the purpose of this certificate. Also I / we have attached herewith the copies of Financial Statements and Audit Report of the_________ (Promoter Name) for thefinancial year ending on 31st March 20XX.

I / We hereby confirm that I / We have examined the prescribed registers, books and documents and the relevant records of (Project) for the period ended and this certificate is being issued based on the records and documents produced before me and explanations provided to me by the management of the promoter based on the verification of books of accounts till (date) 31st March _______.

Signature and Stamp/Seal of the Signatory CA)

Name of the Signatory:

Membership No.:

Full Address:

Contact No. :

E mail:

Website Link:

UDINo-

Date:

Place:

 

FORM - B1

(see clause (iv) of sub-regulation (1) of regulation 3)

(Application for change in RERA Bank Account)

To,

Karnataka Real Estate Regulatory Authority

____________________________________

__________________________________________

Sub: Application for change In RERA Bank Account.

RERA Registration No.:_______________________

Project Name _________________

Promoter Name _________________________,

Dear Sir,

With reference to the above mentioned subject, I /we would like to apply for the Authoritys approval for change in the RERA Bank Account to be opened in the local branch where the Project is going on as per the following details:

I/we solemnly affirm and declare that the particulars given herein are correct to my/our knowledge and belief.

I/ we further undertake that we shall freeze all transactions from the said account until RERA conveys its decision on the RERA Bank Account change application.

Date:

Place:

Yours faithfully,

Name, Signature and Seal of

the Promoter /Authorised Signatory

 

FORM-B1-A

(see clause (v) of sub-regulation (1) of regulation 3)

Chartered Accountants Certificate

(For RERA Bank Account change request)

RERA Registration Number: _______________________________

Project Name: ____________________________________________

Promoter Name: ____________________________________________

Cost of Real Estate Project: __________________________________

The is to certify that, the promoter having obtained registration of the real estate project under Real Estate (Regulation and Development) Act, 2016 read with The Karnataka Real Estate Regulation and Development Rules, 2017, hascomplied with section 4(2) (1) (D) of the Act by depositing 70% of the amount realised from the allottees to the following Bank Account:

Name of the Account Holder:

Designated Account Number:

Bank Name:

IFSC Code:

Branch Name:

Total money realised and deposited in to Bank Account:

Promoter has opened new Bank Account for the purpose of this project.

Details of new Bank Account (proposed designated account):

Name of the Account Holder:

Designated Account Number:

Bank Name:

Account Name:

IFSC Code:

Branch Name:

Observations - any comments/noncompliance:

This certificate in being issued for RERA compliance for the Project_____________ (Promoters Name) and is based on the records and documents produced before me and explanation provided to me by the promoter of the project.

Signature of Chartered Accountant:

Name:

Designation:

Membership Number:

Contact Number:

Address:

Email id:

Website Link:

Date:

Place:

UDIN No :

 

FORM - B2

(see clause (vi) of sub-regulation (1) of regulation 3)

(Format of NOC to be issued by existing bank for change of RERA Bank Account on Bank letter head)

Date:

To,

The Secretary

Real Estate Regulatory Authority – Karnataka

Bengaluru.

Madam / Sir

Subject: No Objection Certificate For Bank Account Bearing No. __________________ , in the Name of ________________________________ held by _____________________________________, in our bank.

This is to certify that :

(1)     No order for attachment/freezing the subject Bank Account have been issued by any statutory Authority, including Income Tax Department / GST or any other statutory Authority.

(2)     No order /s of injunction have been communicated to us or any notice served on us by any court/Tribunal or quasi-judicial Authority by virtue of which the Promoter is restrained from operating the account or changing the Bank Account.

(3)     The promoter has not defaulted on repayment of any borrowings/ loans from the bank due to which it/he/she is prohibited from changing the Project Bank Account.

Banker Designation :

Banker Name :

Signature :

Seal :

Bank Name :

Branch Name :

IFSC Code :

 

FORM-B3

(see clause (vii) of sub-regulation (1) of regulation 3)

(Certificate of Fund Transfer from Bank having proposed Bank Account)

To,

Karnataka real Estate Regulatory Authority,

_______________________________

______________________________

Sub: Details of RERA Bank Account

RERA Registration Number:

Project Name:

Promoter Name:

Dear Sir,

This is to certify that the promoter _______________ has the Bank Account operational with our bank as per following details.

Further, a sum of Rs._________________ (in words: ___________) has been credited in to the above mentioned Bank Account on date_____________________.

Date:

Place:

Yours faithfully,

Name and Signature

Seal of the Promoter/ Authorised Signatory

 

FORM - B4

(see clause (viii) of sub-regulation (1) of regulation 3)

(Confirmation Letter of change in RERA Bank Account)

To,

Karnataka Real Estate Regulatory Authority,

________________________________

________________________________

Sub: Confirmation of change in RERA Bank Account RERA Registration No:

Project Name:

Promoter Name:

With reference to my/our Application for change in RERA Bank Account vide letter dated ___________ and as per the terms and conditions mentioned in the in-principal approval received from the Authority vide/ email dated____, I/we confirm that the RERA Bank Account has been changed and an amount of Rs_________ (in words:__________) has been transferred to the proposed RERA Bank Account.

I undertake that, I shall operate the RERA Bank Account in compliance with the Act, rules and regulations.

 

I/we solemnly affirm and declare that the particulars given herein are correct to my /our knowledge and belief.

Date:

Place:

Yours faithfully,

Name and Signature:

Seal of the Promoter/Authorised Signatory

Note: The Bank Account should be opened in the local branch where the project is going on and Bank Account Name must be in the name of project.

 

FORM - F1

(see clause (ix) of sub-regulation (1) of regulation 3)

ARCHITECTS CERTIFICATE

(for status of work as on date and pending work as on date)

 

RERA Registration No.:

Project Name:

Promoter Name:

To,

The _____________ (Name & Address of Promoter)

Subject: Certificate for percentage of Completion of Development of _____________ (Project Name)

Sir,

I/we have undertaken assignment of certifying the percentage of Completion for Development of ____________ (Project Name) bearing Registration Number _________________.

I/we hereby certify that ________________ percentage of work is complete as on ___________ (date) and ___________ percentage of work is pending.

The percentage of work done till date is mentioned below:

The percentage of work pending till date is mentioned below:

Yours Faithfully,

Signature and Name of Architect

COA number:

Address:

Contact No:

Email id:

Website link:

Place:

Date:

 

FORM - F2

(see clause (x) of sub-regulation (1) of regulation 3)

CHARTERED ACCOUNTANTS CERTIFICATE

(Fund utilization)

 

RERA Registration Number:

Project Name:

Promoter Name:

Total Cost of Real Estate Project:

Total amount utilized for project till date:

To,

The _____________________________ (Name and Address of promoter),

Subject: Certificate for Funds utilized for the project __________ (Project Name)

Sir,

I/we ___________ have under taken assignment of certifying the funds utilized for_____________ (Project Name) bearing Registration Number ____________.

The Promoter in compliance with section 4(2)(1)(D), of the Real Estate (Regulation and Development) Act, 2016 has deposited 70% of the amounts received from the allottees of this project in the following accounts:

Name of the Account Holder:

Designated Account Number:

Bank Name:

IFSC Code:

Branch Name:

I/we ______________ certify that out of the funds received Rs. ___________, Rs___________ has been utilized for construction purposes of the project ______________ (project name) and Rs. _______________ remains unutilized.

Expenditures incurred for the purpose for which the funds were received is verified with the vouchers produces before me and that I have exercised the following checks to see that the money was actually utilized for the purpose which it was sanctioned.

*Completion means completion of all development works as defined in section 2(t) of the Real Estate (Regulation and Development) Act, 2016.

I/we ____________ certify that out of the Total Funds received Rs. _____________ has been utilized for construction purposes of the project ____________ (Project name) and Rs. __________ is required to carry on the completion of work.

Yours faithfully,

Signature of the Chartered Accountant

Name:

Membership Number:

Address:

Contact Details:

Email id:

Website Link:

Date:

Place:

FORM - F3

(see clause (xi) of sub-regulation (1) of regulation 3)

ENGINEERS CERTIFICATE

(For status of work as on date and pending work as on date)

 

RERA Registration No.:

Project Name :

Promoter:

Name:

To,

The _________________________________________ (Name and address of Promoter),

Subject: Certificate for percentage of Completion of Development of __________ [Project Name]

Sir,

I/We _______________ have undertaken assignment of certifying the percentage of completion for development of _____________ [Project Name] bearing Registration Number _________________.

I/We hereby certify that _____percentage of work is complete as on _____________ (Date) and ________________ percentage of work is pending.

The percentage of work done so far is mentioned below:

The percentage of work to be done is mentioned below:

Yours faithfully,

Name and Signature of the Engineer

License No:

Address:

Contact No:

Email id:

Website link:

Date:

Place:

FORM-M

(see clause (xii) of sub-regulation (1) of regulation 3)

 

RERA Registration No.:

Project Name and address:

Promoter Name:

Address:

Website:

Phone/Mobile No :

To:

(Insert name and address of the allottee/s)

Dear Sir/ Madam,

Subject: Intimation and consent regarding modification of sanctioned plans In respect of the Project ............................ situated at ............................ Village, ............................ Hobli, ............................ Taluk and ............................ District.

Ref : Agreement for Sale dated ............................ in respect of Plot / apartment / row-house/ villa Bearing No. ............................ floor, in the project ............................

This is with respect to obtaining consent from you for the proposed modification of sanctioned plans of the project, in this regard please note the following:

(1)     With reference to the above, the project namely ............................ is being developed by me/us and has been registered with the Karnataka Real Estate Regulatory Authority under the Real Estate (Regulation and Development) Act, 2016 and the Karnataka Real Estate (Regulation and Development) Rules, 2017 on ............................ vide registration No ............................

(2)     In view of the provisions of Act and Rules becoming applicable to the project and in view of the proposed modification of the sanctioned building plan of the Project, by virtue of which the ............................ layout/building in the Project is being modified to include ............................ This resulting in ............................ (give brief details of all proposed modifications). Apart from the said modifications in ............................ no other changes are proposed in the sanctioned layout / building plans.

(3)     The modified plan has been sanctioned by............................ vide ............................ dated: ............................ (in case of modified plans sanctioned prior to issue of Circular regarding modification as per provisions of section 14 of the Act, if consent not required give reasons for the same). The application to modify the plan sanction will be applied with the jurisdictional planning/municipal authority being ............................ after completion of due process and obtaining NOC from the Authority.

(4)     It is hereby informed to you that as per the modified building plan, the plot/apartment/row house/villa proposed to be purchased by you may undergo the following changes:

*Please insert as nil, if there is no change, NA if not applicable)

(5)     I/We would further like to bring to your attention that due to the proposed modification, the project is now expected to be completed on or before .....................As a result of modification of the plan the time for completion will not undergo any change.

Or

As a result of the modification the time for completion of the project will be extended by ..................... months and I/we will take necessary steps to get the time for completion extended as per the provisions of the Act and will fulfil my/our contractual obligations in respect of your apartment.

(6)     I/we request your co-operation in this regard. I/we request you to sign a copy to this letter and send it back to me/us, acknowledging the information being given to you regarding the proposed modification of the sanctioned building plan for the project and giving your consent for the same, which shall be treated as consent under section 14(2) (ii) of the Act, to enable us to do the needful.

Thanking you,

For .....................

(Authorised Signature)

(person named as authorized signatory in the application to the Karnataka Real Estate Regulatory Authority)

READ AND ACCEPTED:

I/we ..................... S/o / D/O ..................... aged about ..................... years am the buyer who has booked a plot/apartment/row house/villa in the project namely ..................... situated at ..................... I/we am / are aware that there will be modification of the plan sanction of the project and I/we have no objection for the proposed modification of plan sanction of project which is not in contravention to the provisions of the Real Estate (Regulation and Development) Act, 2016 and the Karnataka real estate (Regulation and Development) Rules, 2017.

Signature of the allottee /Joint allottee

Name:

Apartment No:

Floor No:

Block / Tower No:

 

FORM-U

(see clause (xiii) of sub-regulation (1) of regulation 3)

APPLICATION FOR CHANGE IN PROJECT NAME

 

To,

Karnataka Real Estate Regulatory Authority,

Sub: Application for change in Project Name

Ref:

Project Name:

Promoter Name:

Project Acknowledgment No:

Project Registration No:

Dear Sir,

With reference to the above mentioned subject, I/we would like to apply for the Authoritys approval for change in the Real Estate Project Name as per the following details:

 

I/ we would like to submit that___________________ (give reasons for seeking change of project name in brief), because of which bonafide reason, it has become necessary for us to seek for change of Project Name.

I/we solemnly affirm and declare that the particulars given herein are correct to my/our knowledge and belief.

Date:

Place:

Yours faithfully,

Name, Signature and Seal of

The Promoter/Authorized Signatory

FORM – V

(see clause (xiv) of sub-regulation (1) of regulation 3)

APPLICATION FOR CHANGE IN PROMOTER

To,

The Karnataka Real Estate Regulatory Authority

Sir,

I/we apply herewith for your approval to transfer or assign my/our majority rights and liabilities in respect of real estate project to a third party with following details;

I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I/We undertake to inform you of any changes therein immediately.

I/We declare that there is no pending case before any Court/NCLT/ or any authorized body regarding transfer of promoter/ my rights and liabilities with respect to this project.

I/We declare that there is no bar, in transfer of the rights and liabilities to a third party, from any of the financial institutions or financers who have a charge on the project.

I/We further declare that is no prohibition order passed by any court of law against transfer of the present project to a third party.

Thanking you,

Yours faithfully,

Signature of the authorized

Representative

(with stamp)

Date:

Place: