MahaRERA grants exemption to select types of projects

Our Bureau Pune | Updated on October 14, 2019 Published on October 14, 2019

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has exempted projects that have received Completion Certificate (CC) or Occupancy Certificate (OC) from competent authority, any time before the agreement for sale or sale deed registration, from registering with it.

This also extends to plotted development where the land has received N/A certificate.

RERA has also exempted projects with land area of less than or equal to 500 sq metres and less than or equal to eight units.

Also, redevelopment projects which do not involve marketing, advertising, selling or new allotment of any apartment or building where the promoter executes Permanent Alternative Accommodation Agreement with the existing tenants or the members of society are not required to register with the regulator.

The MahaRERA has issued a letter clarifying RERA registration. The Confederation of Real Estate Developers Associations of India (CREDAI-Pune Metro) had written to MahaRERA and the Inspector General of Registration (IGR) and Collector of Stamps regarding the latest circular from the Revenue and Forest Department dated September 20, which had made it compulsory for all housing projects to register with RERA that had procured a CC or OC prior to the implementation of the Act.

Speaking on the issue, Suhas Merchant, President, CREDAI Pune-Metro in a statement said, “We had written to the IGR and MahaRERA for amending its new guidelines. We want to help mitigate the difficulties of genuine developers and homebuyers at large as there must be many people who would want to buy homes during the upcoming festival season. We have requested the IGR to instruct all sub-registrars in the State to commence the registration processes which are on hold”

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Published on October 14, 2019
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