As per the Central GST Act there being no supply of goods within the meaning of the GST Act in a real estate transaction as ‘Goods’, as per Section 2 (52) include only movable properties.
A common practice among the Builders/Developers to issue Possession Letter without obtaining the Occupation Certificate to pressurize the allottees to pay complete sale price without any chance of getting the possession or execution of sale deed.
Completion Certificate contains all the important information about the project including location, details of developer/agents, material used for construction and whether the project has been built in accordance with the building plans or not.
The RERA Act mandated registration with the newly formulated state RERA authorities but the rebate was given to projects which have already procured occupation and completion certificates.
The judgment of the Punjab and Haryana High Court is delivered the ongoing projects which has not received a completion certificate yet will be included under the purview of RERA.
A customer should remember of taking each document from the builder. The occupancy certificate should be taken before creating the ultimate possession payment to the builder to avoid any downside in future.
Occupancy Certificate has been obtained & Completion Certificate has been/ is to be applied/ obtained– Registration of project under RERA is not applicable
Justice to be served wherever the issue relates to. MahaRERA is leading ahead in proper implementation of RERA regulations. The authority has given many landmark judgments and rulings provided justice to the aggrieved parties. Recently, MahaRERA sets an example proving itself by delivering a firm decision in favor of the Justice. Under this, it also … Continue reading “The completion date has been preponed by MahaRERA”
Bombay High Court (File photo)MUMBAI: The Bombay High Court has passed a remark, while dismissing builders’ plea against the constitutional validity of RERA, that Maharashtra’s RERA rules need to be changed after taking “a fresh survey of the rules. The remark was made with reference to Section 6(a) of the Maharashtra Rules 2017 that refers to grant or rejection … Continue reading “Review Maharashtra RERA project completion rules: Bombay High Court”
Every project where the development work is still not completed at the time of the commencement of the RERA Act, will be considered as an ongoing project whether or not the application for completion certificate is filed before a competent authority.
In a landmark order, the MAHARERA has gone a step ahead in safe guarding the rights of the Homebuyer’s and allowed refund when the developer could not get the Completion Certificate. This will help the buyers protect their money in cases where project is sold and developer fails to get the basic certificates for construction.
The projects which received completion certificate prior the commencement of the Act are not required to register.
As per section 3 & 4 of ‘Real Estate (Regulation & Development) Act, 2016 read-with rule 4 of above Rules, for the real Estate projects that are ongoing and have not received completion certificate
The real Estate projects that are ongoing and have not received completion certificate or occupancy certificate, on the date of commencement of the Act, i.e. 01/05/2017, the respective promoter shall be required to get registered with RERA
The new rules, bring all ongoing projects where completion certificate was not issued on May 1, 2016, when Real Estate Regulation Act (RERA) was notified under its ambit.
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