Section 4 – Real Estate (Regulation and Development) Act, 2016

(1) Upon the commencement of subsection (1) of section 3, promoters of all ongoing projects which have not received completion
certificate as required under local law shall within the time specified in the said sub-section make
an application to the Authority in rule 3.
(2) The promoter shall disclose all project details as required under the Act, rules and
regulations made thereunder including the status of the project and the extent of completion.
(3) The promoter shall disclose the size of the apartment based on carpet area even if earlier
sold on any other basis such as super area, super built up area, built up area etc. which shall not
affect the validity of the agreement entered into between the promoter and the allottee to that
extent.
(4) In case of plotted development the promoter shall disclose the area of the plot being sold
to the allottees.
(5) Where the project is to be developed as separate buildings in phases, every such building
or group of buildings as decided or declared by the promoter at the time of registration shall be
considered as a phase and the promoter shall obtain registration under the Act for each phase
separately.
Explanation : For the purpose of this rule “ongoing project” means a project where
development is going on and for which completion certificate has not been
issued but excludes such projects which fulfill any of the following criteria on
the date of commencement of relevant provisions of the Act:-
(i) where common areas and facilities have been handed over to the association
of allottees or the competent authority, as the case may be, for maintenance;
(ii) where sale/lease deeds or possession letter of minimum sixty percent of the
apartments /houses/plots in the phase/project have been executed;
(iii) where all development works have been completed and completion
certificate has been obtained from chartered engineer in practice as per
prevalent Township Policy;
(iv) where completion certificate has been obtained from the competent authority
or where all development works have been completed and application has
been filed with the competent authority;
(v) where development is done in phases then each phase shall be considered as
a separate project and the phases which fulfill any of the above conditions
shall be excluded;
(vi) where competent authorities/local bodies have started issuing lease deeds for
plots by organising camps or otherwise in township schemes; or
(vii) where services have been handed over to the local authority for maintenance
or more than fifty percent of the development charges for the same have
been deposited to the local authority.