Puducherry government notifies real estate rules

The government notified the Puducherry Real Estate (Regulation and Development-General) Rules and Puducherry Real Estate (Regulation and Development-Agreement for Sale) Rules 2017. The Central Act came into force on May 1, 2017, a release from Puducherry Real Estate Regulation Authority said. 

The rules make registration of all real estate projects with the Real Estate Regulatory Authority mandatory if the land to be developed exceeded five square metres or the number of apartments exceeded eight. The release said all real estate agents should compulsorily register with the Regulatory Authority. 

The rules are applicable to all ongoing projects, which have not obtained occupancy certificate from the Puducherry Planning Authority. 

No sale in a real estate project should be done without registration of the project with the Authority, it said. The rules also stipulated the charges for registration of the projects. A fee of Rs 10,000 has been fixed for registration of the real estate agents (individuals) and Rs 25,000 for others.  

A separate website would be launched soon by the government for online submission of applications for registration of projects and also by agents, the release said.