For -Developer's

FRAS International LLP is on a mission to support the Indian real estate sector in navigating regulatory compliance, helping developers and businesses build trusted brands. 

We see ourselves not just as consultants, but as strategic partners committed to fostering sustainable growth. Over the years, we've established lasting relationships by consistently delivering quality, reliability, and value to our clients.

Our foundation is rooted in championing the Real Estate (Regulation and Development) Act (RERA). As a process-driven organization, we are dedicated to providing practical, relevant, and strategic solutions specifically designed for the Indian real estate market.

In an ever-changing regulatory landscape, we take pride in helping our clients stay ahead of the curve. Our multidisciplinary teams are recognized for their profound knowledge and insights on qualitative and financial matters.

With RERA constantly evolving, we offer comprehensive end-to-end services—from compliance and legal support to financial advisory—crafted to enhance your brand, ensure regulatory alignment, and unlock long-term growth in the real estate sector. Partner with us to navigate the complexities of the market effectively.

1. Project Registration  

According to Section (3) of the RERA Act, 2016, a promoter must register their project with the RERA Authority of the respective state if either of the following conditions is met:  

   • The area of land to be developed exceeds 500 square meters, or  

   • The number of apartments to be developed exceeds 8.  

At FRAS International LLP, we partner with clients to simplify the project registration process. Our project registration services include:  

   • Preparation and collection of necessary documents  

   • Verification and submission of documents to the relevant RERA Authority  

   • Responding to any objections raised by the RERA Authority  

   • Ongoing follow-up and coordination to ensure successful registration.  

It’s important to note that failing to comply with the provisions of Section 3 can result in penalties of up to 10% of the estimated cost of the real estate project.

2. Quarterly Compliance Update

In accordance with Section 11 of the RERA Act, promoters are required to provide quarterly updates on key areas such as the status of apartment and garage bookings, as well as the current construction progress of the project, including any approvals received or pending from the relevant authorities. At FRAS International LLP, we serve as a virtual office for our clients, ensuring all regulatory compliance is effectively managed on behalf of the promoter.

Here’s how we facilitate this process:

   - We gather all necessary documents and information from our clients.

   - We collaborate closely with our clients to prepare the required documentation.

   - We conduct thorough reviews of the provided details to ensure they meet specific requirements.

   - We ensure timely submissions to the RERA authority as prescribed.

3. Certifications

According to the RERA Act Section 4(2)(l)(d), developers must adhere to specific compliance measures to withdraw funds from separate bank accounts. The amount withdrawn must correspond to the physical development progress of the project—in other words, the percentage of project completion. Importantly, such withdrawals require certifications from qualified Architects, Engineers, and Chartered Accountants. Our team comprises top professionals in these areas, ensuring you receive the best advisory on certification compliance. It's crucial to note that non-compliance with Section 4 can result in penalties of up to 5% of the estimated cost of the real estate project.

4. Services of Project Extension 

If you need to extend the registration of your project, you can apply to the real estate regulatory authority. This application may be submitted in cases of “Force Majeure” or “reasonable circumstances.” When applying for a project extension, it’s important to include the reasons for the request, the duration of the extension needed, and the applicable fees. 

At FRAS International LLP, we offer comprehensive services for project extensions that encompass all necessary legalities and processes for project registration. Our support includes drafting the reasons for the extension, preparing your application to the authority, and responding to any inquiries from the authority to ensure a successful extension of your project.

5. Project Insurance

Section 16 of the Act stipulates that the Promoter is responsible for securing all necessary insurances as mandated by the relevant government authority. This section also addresses the requirement for title insurance and construction insurance related to the project. We collaborate closely with the Promoter, alongside our partner organizations, to ensure that all required project insurance compliance is met. It is essential that the project insurance is consistently updated and provided to the association of allottees when maintenance responsibilities are transferred.

6. Project Transfer Services

Section 15 of the Act does not allow promoters to transfer a real estate project to a third party without conditions. The law requires that promoters secure written approval from at least two-thirds of the project allottees, as well as prior permission from relevant real estate authorities. At FRAS International LLP, we collaborate closely with the promoter to ensure a smooth transition of the project from the outgoing promoter to the incoming one, all while adhering to the Act's requirements and prioritizing the safety and well-being of the project allottees.

7. Modification / Alteration of the Project

Section 14 emphasizes the importance of following the approved plans, layouts, and specifications laid out by the competent authority during the Project's development. While minor changes can be made without needing compliance, any significant modifications to the approved plans or specifications require the consent of at least two-thirds of allottees involved in the Project. We closely collaborate with the promoter to facilitate compliance when it comes to any major changes or modifications in the Project.

8. Title Search Services

Clear land is crucial for any real estate project. That’s why it’s essential to conduct a thorough search of the land designated for development. At FRAS International LLP, we offer comprehensive title search services for promoters, making it easier for you to decide on purchasing land or entering into joint development agreements for your projects. Additionally, please note that when registering a project, promoters must also submit a land title search report prepared by an advocate with at least ten years of experience in land-related matters.

9. Drafting of Agreements and Deeds

With the introduction of the Act, the landscape of real estate business has transformed significantly. This evolution emphasizes the need for legality and precision in all legal documents associated with any project. Additionally, promoters must now submit sample copies of the Allotment Letter, Sale Agreement, and Conveyance Deed upon applying for project registration. The Joint Development Agreement among promoters must also clearly define the roles, responsibilities, and accountability of each party involved. At [Company Name], we, alongside our legal counsel, are dedicated to the meticulous preparation of all necessary legal documents, including the Joint Development Agreement, Sale Agreement, Conveyance Deed, Allotment Letter, Allocation Agreement, and any other required legal documents.