The Real Estate Regulatory Authority, (RERA, Kerala) on September 29, 2023, issued a notification regarding the application for registration of Real Estate Projects - Legal title of the land involved in the project Conditions for accepting the registered 'agreement for sale' executed with the land owners in lieu of the 'joint venture agreements' executed with the land owners.
The following has been stated-
1.In case the transfer of land does not take place as per the Agreement for Sale' executed between the promoter and the land owner, the K-RERA registration is liable to be revoked.
2.A registered Power of Attorney which empowers the promoter to develop the project and to enter into an Agreement for Sale with the allottees shall be executed by the landowner in favor of the promoter.
3.Once the project land is transferred to the promoter, the promoter shall make the necessary changes/corrections in the project details and upload the sale deed on the web page of the project maintained on the web portal of the Authority through an application for correction.
4.The promoter shall also mutate all the necessary approvals/documents taken in the name of the original landowner in the name of the promoter and upload the details on the web page of the project maintained on the web portal of the Authority.
[Notification No. K-RERA/T31l 0212020]
