MahaRERA: Single Registration for Each Project

MahaRERA: Single Registration for Each Project

The Maharashtra Real Estate Regulatory Authority (MahaRERA) now requires each standalone project to have a single registration number in order to protect the interests of homebuyers. The regulatory authority implemented this measure in response to instances where developers obtained two or more MahaRERA registration numbers for the same real estate project or parts of it. The directive, issued on Wednesday and effective immediately, aims to prevent fraudulent practices and protect homebuyers from being cheated.

According to the latest directive, from now on, any developer applying for new registration for a housing project must submit a declaration on their official letterhead. This declaration, in the specified format, confirms that the proposed project site or any of its parts does not have a MahaRERA registration number, and there are no pending applications.

MahaRERA is making every effort to eliminate any possibility for developers to use excuses to delay projects. The 'One Stand-alone Project: One MahaRERA Number' policy is another important step in protecting the interests of all stakeholders, including homebuyers. This new decision will allow MahaRERA to more effectively monitor all projects and enforce regulatory provisions.

This directive applies to both standalone and multi-phased housing projects located on large plots. The specified format will include details such as CS number, CTS number, final plot number, survey number, Hissa number, GAT number, Khasra number, and so on. In case of inaccuracies, misinformation, or deception in the provided details, MahaRERA will take necessary action against the promoter responsible.

The regulatory authority has observed that some developers are applying for additional MahaRERA registration numbers for various reasons, without disclosing this to the authority, even when the plot or project already has a registration number.

In some cases, the landowner and the promoters are different and work independently, while in other cases, the landowner contracts with more than one promoter. This leads to multiple challenges and confusion in completing the project.

Projects of this kind encounter challenges in obtaining Occupancy Certificates (OC), which leads to difficulties for homebuyers in securing water supply and other essential civic facilities. In order to prevent such situations, MahaRERA has implemented the new policy of "One Stand-alone Project: One MahaRERA Number.

For a project on a large plot, a separate registration number for the project or phases can be obtained. However, any reservation on the plot, as declared by the government and local planning authority, cannot be changed without following the formalities prescribed by the authorities concerned. This includes obtaining legal consent from the Allottees as well, as stated by the regulator.

MahaRERA has implemented these legal measures to prevent any complaints or disputes related to common or special amenities such as recreational areas, playgrounds, parking facilities, internal roads, swimming pools, clubhouses, and gyms. It is necessary for all of these amenities to be clearly and unambiguously specified for each phase of every project in the applications submitted for a new MahaRERA registration number.

By LNN (Liyaans News Network)