West Bengal State Assembly passed the Housing Industry Regulation Act (HIRA) in October 2017, which was then incorporated in June 2018. HIRA is West Bengal’s version of the Centre’s Real Estate Regulation Act. It has been introduced to regulate the housing and real estate sector and protect the interest of homebuyers.
Read on to know about West Bengal HIRA features, objectives, how to register and documents required.
The West Bengal Housing Industry Regulation Act comes with the following features:
The West Bengal government passed its Housing Industry Regulation Act of 2017 with the following objectives:
If you are a promoter looking to register with WB HIRA, you can refer to the following steps:
Real estate agents can follow these steps to register themselves with West Bengal Housing Industry Regulatory Authority:
If you do not have an existing user ID, you will have to sign up for a new account.
The Parliament passed RERA (Real Estate Regulation and Development Act) in 2016 to safeguard homebuyers’ interest and to encourage investment in the real estate sector. As per this Act, every state and Union Territory had to set up a regulatory authority of their own.
However, West Bengal has been the only state that came up with its own regulation Act to govern its real estate market. This Act has made real estate transactions more transparent. Projects registered with HIRA have to publish their building plans, with all facilities and amenities available. Homebuyers can find all relevant information about a project from HIRA’s website. This will help them in making an informed decision.
If you are planning to buy a residential unit, you can check the project details on the official website of HIRA to ensure they meet all guidelines.
Here are some of the details and documents that a promoter needs to furnish for registering a project under HIRA:
The implementation of HIRA has made the housing sector in West Bengal transparent, reliable and buyer-friendly. Moreover, all necessary details about real estate projects are available on the official portal for buyers’ convenience.
Since purchasing a property can be a substantial investment, you can opt for a home loan to easily fund your dream home. Navi offers big-ticket home loans of up to Rs.5 crore with interest rates starting at 8.74% per annum. Moreover, the lender offers a repayment tenure of up to 30 years. Download the Navi app and apply for a home loan now.
Ans: A real estate agent registering under HIRA has to submit the following documents:
• Copy of PAN
• Photo of the agent
• Details about registration
• Income tax return of past 3 years
• Details about the enterprise
• Legal documents of the land
Ans: RERA and HIRA differ from each other based on the following parameters:
• Planning area
• Courts that will carry out trials for offences
• Compounding of offences
• Definition of garage in a property
• Force majeure events and others
Ans: Here are the charges of property registration under HIRA:
• Rs. 10 per square metre for residential projects within 2,000 square metres
• Rs. 30 per square metre for projects exceeding 5,000 square metres
• Rs. 20 per square metre for projects within 2,000 and 5,000 square metres
• Rs. 30 per square metre for commercial projects
Ans: As a homebuyer, you can easily raise a complaint online through the official portal of the West Bengal Housing Industry Regulatory Authority. Click on the ‘Online Registration’ tab and choose ‘Complaint’ to file a grievance.
Ans: WB HIRA provides promoters and homebuyers with the right to file an appeal after court verdicts. If you wish to file an appeal with the West Bengal Housing Industry Regulatory Authority, you have to pay a fee of Rs. 1,000.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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