The Department of Urban Development, Goa on 28th October 2021, has published the Return of Registration Fee of a Real Estate Project and Real Estate Agent by the Authority, Regulations, 2021.
Through this amendment, it has been notified that if a promoter apply for withdrawal of application for registration of the Real-estate project before the expiry of the period of thirty days of its submission to Authority. In such cases, the registration fee to the extent of ten percent paid or rupees fifty thousand whichever is more, shall be retained as charges towards processing of application by the Authority, and the remaining amount shall be refunded to the promoter within a period of thirty days from the date of such withdrawal.
As per section 4(1) Application for registration of real estate projects under Real Estate (Regulation and Development) Act, 2016 and provision under rule 5(a) of The Goa Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate agents, Rate of Interest and Disclosure on website Rules, 2017, at the time application of registration, the promoter shall pay a registration fee, calculated on the area of land proposed to be developed at the rate of rupees ten per sq. mt., subject to a minimum of fifty thousand only and a maximum of rupees ten lakhs only.
The return of registration fee of real estate project and real estate agent is as follows:
(a) In the case of an exempted real estate project, the authority may deduct one percent of registration fee or rupees one thousand whichever is more and return the remaining amount.
(b) In the case of a real estate project which has applied for registration but seeking withdrawal of registration within the expiry period of thirty days, the Authority may deduct ten percent of registration fee or rupees fifty thousand whichever is more as stipulated under provision (7) of Rules 2017, and return the remaining amount.
(c) In the case of project registered with the Authority but subsequently seeking cancellation, registration fee will not be returned. The promoter has to pay registration fee afresh for registration of the same project in due course on furnishing required information/ documents.
(d) In the case of Real Estate Agent where the Authority rejected registration of individual real estate agent, fee to the extent of ten percent will be deducted and in the case of company/firm, etc, fee to the extent of Rupees Fifty thousand will be deducted. Such Real Estate Agent has to pay registration fee afresh for registration as agent along with required information/documents.
Further the Authority has decided that all unclaimed fees should be treated as revenue of the Authority, and in future, if any claim made, that would be decided by the Authority case to case basis on merits.
