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The Real Estate (Regulation and Development) Act of 2016 was enforced from 2017. It was implemented to guide and supervise real estate sector. RERA Registration in Maharashtra is governed by the Maharashtra Real Estate Regulatory Authority.
Let’s discuss some of the key points for promoters with respect to RERA in Maharashtra.
Table of Contents
As per RERA, promoter is a person who is responsible to construct or causes to be constructed a building with a view to offer all or a portion of it to different people.
2. The application for registration of a Real Estate Project shall be made in writing by the promoter in Form ‘A’ along with the Authority Letter or Board Resolution and shall be submitted in triplicate.
3. The promoters are required to pay registration fees at the time of application to the authority through NEFT or RTGS or any other digital transaction mode and the Registration Fees shall be calculated as follows:
4. The registration of a real estate project shall not be required:
5. The promoter may apply for withdrawal of application for registration of the real estate project before the expiry of the period of 30 days of its submission to Authority.
6. For ongoing projects in which all buildings as per sanctioned plan have not received occupancy certificate or completion certificate, as the case may be, then the promoter is required to submit an application for registration for each such phase of the project, within a period of three months from the date of commencement of this Act.
7. Upon the registration of the real estate project, the Authority shall issue to the promoter a Registration Certificate with a project registration number, in Form “C”.
8. The period for which registration shall be valid shall exclude such period where actual work could not be carried by the promoter as per sanctioned plan due to specific stay or injunction orders relating to the real estate project.
9. If the application is rejected then the Authority shall inform the applicant in Form ‘D’ after giving the promoter an opportunity of being heard in the matter by the Authority.
10. An application for extension of the real estate project shall be made to the Authority, in Form “E”, along with an explanatory note setting out the grounds and reasons for the delay in the completion of the real estate project.
11. On acceptance of the extension of the real estate project by the Authority, shall be in Form ‘F’ and on a rejection of the same shall be in Form ‘D’.
12. On revocation of the registration of the project, the Authority shall inform the promoter and the concerned competent authority about such revocation in Form ‘D’ by giving not less than 30 days’ notice, in writing by stating the grounds on which it proposes to revoke the registration.
The facilities provided to promoters are as follows:
The job and responsibility of promoters have been expanded and they now have to provide every document to the purchaser while signing an agreement. In case you need more information on RERA in Maharashtra or RERA registration, consider reading our blogs.
Read our article:
Statutory Provisions of RERA: Registration Process, Documents, Offences, etc.
Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.
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