Registration of New Real Estate Project Under RERA – Maharashtra
(As per “Maharashtra Real Estate (Regulation and Development) ….Rules, 2017)
As per section 3 and 4 of Real Estate (Regulation & Development) Act, 2016 (REDA) readwith Rule 3 of above rules, every promoter shall get the eligible real estate project, registered with RERA authority before sale/promotion/advertisement/booking etc
The application for registeration of such Real Estate Project shall be made in writing along-with declaration, as prescribed in Rules, in triplicate.
The promoter shall pay a registration fee at the time of application for registration by way of a demand draft or a bankers cheque drawn on any scheduled bank or through online payment mode, as the case may be, for a sum calculated at the rate of,-
- 10/- per square meter of the land proposed to be developed, subject to minimum amount of Rs. 50,000/- and maximum Rs. 10 Lakhs
Documents Required for RERA Registration –
- Authenticated copy of the PAN card of the promoter;
- Audited balance sheet of promoter for preceding financial year.
- Income tax Returns of the promoter for 3 preceding financial years
- The number of open parking areas available in the real estate project;
- Authenticated copy of the legal title deed reflecting the title of the promoter to the land on which development of project is proposed along with legally valid documents for chain of title with authentication of such title;
- Details of encumbrances on the land on which development of the project is proposed including details of any rights, title, interest, dues, litigation and name of party.
- Where the promoter is not the owner of the land on which development of project is proposed details of the consent of the owner of the land along with a copy of the collaboration agreement, development agreement, joint development agreement or any other agreement, as the case may be, entered into between the promoter and such owner and copies of title and other documents reflecting the title of such owner on the land on which project is proposed to be developed;
- Name, photograph, contact details and address of the promoter if it is an individual and the name, photograph, contact details and address of the chairman, partners, directors, as the case may be, and the authorized person in case of other entities.
- the particulars in respect of Architecture and Design Standards, Type of Construction Technology, Earthquake Resistant Measures and the like to be adopted for Buildings and for Common Areas and of amenities/facilities in the Layout Plan of the real estate project;
- the nature of the organisation of allottees to be constituted and to which the title of such land parcels is to be conveyed and the specific local laws to govern such organisation of allottees on completion of real estate project;
- Any other information and documents as may be specified
Validation of Registration
The validation of registration shall be till completion of project as given by the promoter. The registration can be extended as per the prescribed rules.
Author – Amarpal, RERA Consulting – firstname.lastname@example.org
For, Centrik Business Solutions Pvt Ltd.
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws.