Reverse charge on development rights and upfront lease consideration shifts central tax liability to promoters upon completion or first occupation. Notification designates promoters who acquire development rights/FSI or long term land leases for residential construction-whether paying by construction service, monetary consideration, or upfront premium-as the registered persons on whom central tax liability arises; that liability arises on the earlier of issuance of the completion certificate or first occupation. The notification adopts statutory definitions from the Real Estate (Regulation and Development) Act, defines FSI, and confirms taxability under the reverse charge mechanism consistent with a referenced prior notification.