4. Application for registration of real estate projects.
(1) Every promoter shall make an application to the Authority for registration of thereal estate project in such form, manner, within such time and accompanied by such fee asmay be specified by the regulations made by the Authority.
(2) The promoter shall enclose the following documents along with the applicationreferred to in sub-section (1), namely:—
(a) a brief details of his enterprise including its name, registered address, type ofenterprise (proprietorship, societies, partnership, companies, competent authority),and the particulars of registration, and the names and photographs of the promoter;
(b) a brief detail of the projects launched by him, in the past five years, whetheralready completed or being developed, as the case may be, including the current statusof the said projects, any delay in its completion, details of cases pending, details oftype of land and payments pending;
(c) an authenticated copy of the approvals and commencement certificate fromthe competent authority obtained in accordance with the laws as may be applicable forthe real estate project mentioned in the application, and where the project is proposedto be developed in phases, an authenticated copy of the approvals and commencementcertificate from the competent authority for each of such phases;
(d) the sanctioned plan, layout plan and specifications of the proposed projector the phase thereof, and the whole project as sanctioned by the competent authority;
(e) the plan of development works to be executed in the proposed project andthe proposed facilities to be provided thereof including fire fighting facilities, drinkingwater facilities, emergency evacuation services, use of renewable energy;
(f) the location details of the project, with clear demarcation of land dedicated forthe project along with its boundaries including the latitude and longitude of the endpoints of the project;
(g) proforma of the allotment letter, agreement for sale, and the conveyance deedproposed to be signed with the allottees;
(h) the number, type and the carpet area of apartments for sale in the projectalong with the area of the exclusive balcony or verandah areas and the exclusive openterrace areas apartment with the apartment, if any;
(i) the number and areas of garage for sale in the project;
(j) the names and addresses of his real estate agents, if any, for the proposedproject;
(k) the names and addresses of the contractors, architect, structural engineer, ifany and other persons concerned with the development of the proposed project;
(l) a declaration, supported by an affidavit, which shall be signed by the promoteror any person authorised by the promoter, stating:—
(A) that he has a legal title to the land on which the development is proposedalong with legally valid documents with authentication of such title, if such landis owned by another person;
(B) that the land is free from all encumbrances, or as the case may bedetails of the encumbrances on such land including any rights, title, interest orname of any party in or over such land along with details;
(C) the time period within which he undertakes to complete the project orphase thereof, as the case may be;
(D) that seventy per cent. of the amounts realised for the real estate projectfrom the allottees, from time to time, shall be deposited in a separate account tobe maintained in a scheduled bank to cover the cost of construction and the landcost and shall be used only for that purpose:
Provided that the promoter shall withdraw the amounts from the separateaccount, to cover the cost of the project, in proportion to the percentage ofcompletion of the project:
Provided further that the amounts from the separate account shall bewithdrawn by the promoter after it is certified by an engineer, an architect and achartered accountant in practice that the withdrawal is in proportion to thepercentage of completion of the project:
Provided also that the promoter shall get his accounts audited within sixmonths after the end of every financial year by a chartered accountant in practice,and shall produce a statement of accounts duly certified and signed by such chartered accountant and it shall be verified during the audit that the amountscollected for a particular project have been utilised for the project and thewithdrawal has been in compliance with the proportion to the percentage of completion of the project.
Explanation.— For the purpose of this clause, the term "schedule bank"means a bank included in the Second Schduled to the Reserve Bank of IndiaAct, 1934;
(E) that he shall take all the pending approvals on time, from the competentauthorities;
(F) that he has furnished such other documents as may be prescribed bythe rules or regulations made under this Act; and
(m) such other information and documents as may be prescribed.
(3) The Authority shall operationalise a web based online system for submittingapplications for registration of projects within a period of one year from the date of itsestablishment.