RERA REGISTRATION

Overview

The Maharashtra RERA (MahaRERA) was established in 2017 with headquarters in Mumbai & an aim to regulate and promote real estate in Maharashtra. The online platform serves as the one-stop solution for checking the compliance of any project/agent or be it filing a complaint. Services Regarding Rera offered by us are as follows-

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RERA REGISTRATION FOR REAL ESTATE PROJECTS

Real Estate Projects which to be registered under the RERA -

1. Residential Projects
2. Commercial Projects
3. Residential & Commercial Projects
4. Plotting Project

Real Estate Projects which are excluded from MAHA RERA Registration -

  1. Real Estate Projects where the area of land proposed to be developed is less than or equal to five hundred square meters.
  2. Real Estate Projects where the number of apartments proposed to be developed is less than or equal to eight apartments.
  3. Real Estate Projects where Promoter has received Completion Certificate/ Occupancy Certificate / N/A Order. (In case of plotted development) from Competent Authority. any time before Agreement for Sale / Sale Deed Registration.
  4. Redevelopment Projects which do not involve marketing. advertising, selling or new allotment of any apartment, plot or building, as the case may be. under the real estate project. In such projects, the promoter executes Permanent Alterative Accommodation Agreement with the existing tenants / slum dwellers / members of society, for which MahaRERA Registration is not required.
  5. Any other project, where MahaRERA has already decided through ruling, that the project doesn’t require registration.

RERA REGISTRATION FOR REAL ESTATE AGENT

All Real Estate Agents who are dealing with sale of the Apartment or Plots of Rera Registered Real Estate project will have to compulsorily registered with the concerned state-level regulatory authorities. Real estate agents will be given a registration number by the MAHA RERA authority which will be valid for 5 years and will be renewed thereafter.

QUARTERLY UPDATION

Promoters are advised to ensure that their project information is always up-to-date as per Section 11 of the Real Estate (Regulation and Development) Act, 2016. Failure to make quarterly project update will violate Section 11 of the Real Estate (Regulation and Development) Act, 2016 and would make the concerned promoter liable for penal action.

The following information is to be updated Quarterly-

1. Project Cost
2. Task/Activity (Percentage of Work)
3. Common Areas and Facilities
4. Apartments booked/Sold.
5. Project Professional Details
6. Any other updates

CERTIFICATES OF CA (FORM 5)

The annual report on the statement of accounts, in Form 5 duly certified and signed by the chartered accountant who is the statutory auditor of the promoter’s enterprise are required to upload at the end of the financial year.

EXTENSION IN RERA PROJECT COMPLETION DATE

Section-6 of the RERA Act gives power to the Authority to extend the date of completion for a period of one year. The Authority can grant extension in non-Force Majeure condition also by recording its reasons in writing and the same cannot be done for more than one year. The further extension can be granted by the Authority with the consent of 2/3 Allottees of the Project.

RERA PROFILE CORRECTION

Details which are wrongly entered while RERA Registration of the real estate projects can be corrected by following a certain procedure.

CHANGE IN PROMOTER

Change in the promoter can be done in the following cases-
1. By order of the Court
2. With the consent of Two Third Allottees.

RERA CONSULTANCY

We assist our clients in every aspect of the RERA act and departmental procedure.

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