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.
Are you looking to buy that house you’ve been eyeing 🏠 and you need a loan of up to ₹5 crore. Install the Navi app now and get instant in-principle approval right away! Interest rates starting at 8.60% p.a.
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.
|Home Loan Interest Rate||Home Loan EMI Calculator||Home Loan Tax Benefits|
|Home Loan Prepayment Calculator||Minimum CIBIL Score For Home Loan||How to Apply for Home Loan|
|Home Loan Prepayment||NBFC Home Loans In India||Home Loan Stamp Duty|
|Home Loan Balance Transfer||Home Loan Types||Home Loan Process|
|NRI Home Loan||Home Loan Insurance||Benefits of Joint Home Loan|
|Documents Required For Home Loan||Top Banks And NBFCs for Home Loans||Home Loan For Women|
|Home Construction Loans||Home Loan Sanction Letter||Loan Against Property Interest Rates|
HSBC Bank Home Loan Interest Rate April 2023HSBC offers a variety of home loan products designed for Indian citizens and NRIs (Non-Resident Ind... Read More »
Axis Bank Home Loan Interest Rate April 2023Axis Bank home loan interest rate starts at 8.75% p.a. The bank offers home loans up to ₹5 crore ... Read More »
Karnataka Bank Home Loan Interest Rate April 2023Karnataka Bank home loan interest rate starts at 9.26% p.a. The bank offers an array of home loan s... Read More »
BBMP Property Tax – How to Calculate, Check Status and Pay Tax?The Karnataka State Government imposes this tax on the residents of the State who own properties in... Read More »
Union Bank of India Home Loan Interest Rate April 2023Union Bank of India offers up to 90% of the property value as home loan. Union Bank home loan inter... Read More »
Hartalika Teej in India 2023 – Muhurat and Rituals (18th Sept)Hartalika Teej is an auspicious festival for Hindu women. The day is mainly dedicated to Goddess Pa... Read More »
Bank of Baroda Home Loan Interest Rate April 2023Bank of Baroda (BoB) home loan interest rate starts at 9.15% p.a. For the salaried and 9.25% ... Read More »
Stamp Duty in Thane 2023 – Property Registration ChargesIn India, every State government levies a stamp duty on property transfers. The location, type of p... Read More »
Stamp Duty in Karnataka 2023 – Property Registration ChargesIf you have recently purchased a property in Karnataka, you are liable to pay stamp duty in Karnata... Read More »
Stamp Duty and Property Registration Charges in TelanganaThe state government in India is in charge of defining rules and standards and managing the collect... Read More »
Stamp Duty and Property Registration Charges in PuneStamp duty and registration charges need to be paid to the state government to register your proper... Read More »
Apply for EC Online in Karnataka 2023 – Fees and ChargesThe Government of Karnataka has introduced an online service portal (the Kaveri Online Services por... Read More »
Top 10 Chit Fund Schemes in India in 2023Chit funds are one of the most popular return-generating saving schemes in India. It is a financial... Read More »
10 Best Gold ETFs in India to Invest in April 2023Gold ETFs or Gold Exchange Traded Funds are passively managed funds that track the price of physica... Read More »
10 Best Demat Accounts in India for Beginners in 2023Creation of Demat accounts revolutionised the way trades were conducted at the stock exchanges. It... Read More »
20 Best Index Funds to Invest in India in April 2023What is an Index Fund? An index fund is a type of mutual fund or exchange-traded fund (ETF) that... Read More »
Best Arbitrage Mutual Funds to Invest in India in April 2023Arbitrage funds are hybrid mutual fund schemes that aim to make low-risk profits by buying and sell... Read More »
10 Best SIP Plans in India to Invest in April 2023What is SIP? SIP or Systematic Investment Plan is a method of investing a fixed amount in ... Read More »
10 Best Corporate Bond Funds in India to Invest in April 2023Corporate bond funds are debt funds that invest at least 80% of the investment corpus in companies ... Read More »
10 Best Bank for Savings Account in India [Highest Interest Rate 2023]Savings account is a type of financial instrument offered by several banks. It lets you safely depo... Read More »