An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.
(1) On receipt of the application under sub-section (1) of section 4, the Authority shall within a period of thirty days.
(a) Grant registration subject to the provisions of this Act and the rules and regulations made there under, and provide a registration number, including a Login Id and password to the applicant for accessing the website of the Authority and to create his web page and to fill therein the details of the proposed project, or
(b) Reject the application for reasons to be recorded in writing, if such application does not conform to the provisions of this Act or the rules or regulations made there under.
Provided that no application shall be rejected unless the applicant has been given an opportunity of being heard in the matter
(2) If theAuthorityfailstogranttheregistrationor reject the application, as thecase may be, as providedundersub-section(1), the projectshallbedeemedtohavebeen registered, andtheAuthorityshallwithinaperiodofsevendaysoftheexpiryofthesaidperiodofthirty days specified under sub-section (1), provide a registration number and a Login Id and password to the promoter for accessing the website of the Authority and to create his web page and to fill therein the details of the proposed project.
(3) The registration granted under this section shall be valid for a period declared by the promoter under sub-clause (C) of clause (1) of sub-section (2) of section 4 for completion of the project or phase thereof, as the case may be