KLH’s The West Bengal Real Estate (Regulation and Development) Rules, 2021 (Bare Act) – 2026.

KLH’s The West Bengal Real Estate (Regulation and Development) Rules, 2021 (Bare Act) – 2026.

Description :-

Kamal’s The West Bengal Real Estate (Regulation and Development) Rules, 2021  (w.e.f. 27.7.2021) with The Real Estate (Regulation and Development) Act, 2016 (Act No. 16 of 2016) – Edition 2026.

The West Bengal Real Estate (Regulation and Development) Rules, 2021 establish the framework for regulating the real estate sector in the state, ensuring transparency, accountability, and the protection of homebuyers’ interests. The rules were notified on July 27, 2021, and came into force from the date of their publication in the Official Gazette.

Background and Context

The implementation of these rules followed a Supreme Court decision that struck down the state’s previous legislation, the West Bengal Housing Industry Regulation Act, 2017 (WB-HIRA), as unconstitutional. This ruling paved the way for West Bengal to adopt the central Real Estate (Regulation and Development) Act, 2016 (RERA Act), leading to the formulation of the 2021 rules.

Key Provisions

The rules, framed under section 84 of the central RERA Act, cover comprehensive aspects of real estate transactions and regulation. Key areas include:

• Mandatory Project Registration: Promoters are required to register all projects with the West Bengal Real Estate Regulatory Authority (WBRERA) if the land area exceeds 200 square meters or there are more than six apartments.
• Promoter Obligations: Developers must disclose all project details, including the sanctioned plans, layout plans, and the specific date of possession, on the official WBRERA website.
• Carpet Area Definition: The size of the apartment must be disclosed based on carpet area, ensuring clarity for homebuyers.
• Separate Bank Account: Promoters are mandated to deposit 70% of the funds received from allottees into a dedicated bank account to cover the cost of land and construction.
• Agent Registration: Real estate agents must also register with WBRERA and maintain books of account and records.
• Dispute Redressal: The rules outline procedures for filing complaints with the Authority or the Adjudicating Officer, and for appeals to the Real Estate Appellate Tribunal.

Details