Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has implemented a new policy called "One Stand-alone Project: One MahaRERA Number." The policy aims to address concerns about developers obtaining multiple MahaRERA registration numbers for the same real estate project or part of it.
MahaRERA observed instances where promoters applied for additional MahaRERA registration numbers without disclosing existing registrations, causing challenges and confusion in project completion. In some cases, the land owner and the promoters are different and they work independently while in some places the land owner contracts with more than one promoter. As a result, such buildings face difficulties in getting Occupancy Certificates (OC) because of which the homebuyers end up facing difficulties in securing water supply and other basic civic facilities.
Ajoy Mehta, Chairman of MahaRERA, says that "MahaRERA is trying its best that there should not be any possibility under the pretext of which the developer gets an opportunity to delay the project." Acting on these lines, MahaRERA has now introduced the new policy of "One Stand-alone Project: One MahaRERA Number." This policy has come into force with immediate effect.
As per the latest order, henceforth, every promoter applying for new registration of a housing project will have to submit Declaration-cum-Undertaking in the prescribed format on their letter head that neither the site of the proposed project nor any part of it have MahaRERA registration number; nor is any application pending. If the information submitted by the promoter is found wrong, incorrect or misleading, MahaRERA will initiate appropriate action against such promoter.
The prescribed format will contain details such as CS number, CTS number, final plot number, survey number, Hissa number, GAT number, Khasra number, etc.
This change in policy is applicable for stand-alone as well as multi-phased housing projects on large plots. In case of a project on a large plot 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 the formalities as prescribed from time-to-time by the authorities concerned. This includes legal consent of the Allottees as well.
These legal measures are to avoid any complaints or disputes in the future with regards to common or special amenities such as recreation, playground, parking, internal roads, swimming pool, club house, gymnasium, etc. All these details need to be categorically and clearly specified for every project's phase in each of the applications submitted for a new MahaRERA registration number.
The new policy aims to streamline the process, prevent difficulties faced by homebuyers, and ensure transparency in project registration. Ajoy Mehta said that "One Stand-alone Project: One MahaRERA Number" is another crucial policy towards safeguarding the interest of all stakeholders including homebuyers. This latest decision will help MahaRERA to monitor all the projects more effectively, while strictly implementing the regulatory provisions.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
