Compliance are very important to Initiate,
Continue & Complete any project. Some of these can also be called as
approvals required for a project.
Rules governing Land & Project vary from State to
State and there are no uniform laws, but still we have tried to list down
broadly some, which are more or less common, with slight variation, to all
states. Time required for each
compliance also vary from state to state. It depends on a number of
factors like how strong is follow up, how fast requisite documentation is
completed, when the applicable fees & charges are paid & so on.
Project compliance
1. Registration Of Land
When you initiate a project land is
purchased from somebody. So one of the first steps is to get land registered in
your, means your company’s name.
2. Change Of Land Use
Generally you buy agricultural land.
Purpose is to use it for developing some residential or a commercial project or
a combination of both. So you have to get its use changed from agricultural to
the type of project you intend to do from concerned authorities.
3. Group Housing Approval By Ministry of
Housing in State
State Ministry of Housing under the
instructions of Governor issues the approval signed by some secretary level
official. This is one of the very important documents.
4. Site Survey Plan
Survey of site from some Professionally
Accredited agency. The purpose of this survey in addition to other things is to
check the presence of high tension wires near project site, any government
water or sewerage line going beneath the project site and a whole of other
information. This report is submitted to Development Authority.
5. Master Plan
It is a site map containing just the
setbacks, outer boundaries of project site. Purpose of this map is to calculate
net area available for construction. This again is submitted to development
authorities.
6. Lease Deed
In certain states including Rajasthan ,
Parts of U.P. , Parts of M.P. still government doesn’t register land in the
name of buyer but issues Pattas, which is a 99 Years Lease in favor of owner.
These governments are in the process of regularizing land documents and once
that is complete these pattas will be converted into registries. But otherwise
these Pattas are bankable documents.
7. Registration of Pattas
These pattas thus issued are duly
registered in the office of Registrar by paying the applicable Stamp Duty.
8. Environment, Pollution & Water
Clearance
This is one of the very important clearance
for a project. If the project Plot size is more than 20000 Sq. Mtr. Than the
clearance is from center otherwise it is by state Ministry of Environment. If
it is to be by center than it takes around 6 months to get and if by state it
takes around 3 months.
9. Submission Drawings/Layout Plans
The Final Drawings are cleared by Planning
Committee chaired by Chairman of Development Authority. Once the Layout plans
are approved they are issued to Developer for construction. Before issuing
these Plans Development Body imposes certain charges on Developer. Developer
pays the Charges and gets the plans issued.
Statutory
Compliance
Then there are Statutory Compliance .
Though there is a long list of these but some of the most important ones are
being listed below :
1. TDS
TDS is one of the most important statutory
compliance. You have to deposit, with I.T. department, the TDS you deduct in
previous month and then file the return accordingly on monthly basis.
2. Service Tax
You have to deposit Service Tax with
Department on monthly basis and file a return of the same also every month.
3. Annual Report
Also called “Balance Sheet” . This has to
be filed every year for the business transacted in previous year.
4. Minutes Book
This is a book which is to be regularly maintained
by accounts department to record minutes of all board meetings held.
Violation in any of the these attracts heavy
penalties.
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