MahaRERA Registration must for Selling Property

The Maharashtra government on September 21 issued a notification directing property registration officials that no agreement for sale for any property in ongoing real estate projects should be registered without first verifying that the project is registered with Maharashtra Real Estate Regulatory Authority (MahaRERA), in line with Real Estate (Regulation and Development) Act (RERA) provisions.

Credits : content.magicbricks.com

The resolution ensures that the registration officers do not register agreements for sale of flats or any other real estate project that hasn't got completion certificate without verification that the project is registered or unregistered on MahaRERA portal.

The GR also reiterates the provisions of Section 3 of RERA, which restrains developers or promoters from marketing, advertising, booking, selling or offering for sale any ongoing real estate project in any planning area without first registering it with the State RERA Authority.

Section 3 of RERA is applicable to any project that has received statutory sanctions from the planning authority and Commencement Certificate, but is yet to receive Completion Certificate. Going a step forward, the government has with this GR ensured that unscrupulous developers cannot even register any agreements for sale with registration offices without verification that the project is indeed registered with MahaRERA.

Consumer protection activist Shirish Deshpande, who is also the chairman Mumbai Grahak Panchayat, said the new GR is a welcome step but the authorities should have issued it soon after RERA became operational from May 1, 2017.

"This will go a long way in protecting interest of home buyers who were often victims of soft launch projects where bookings were accepted without there being any building permissions in place," he said.

"Section 4 of RERA requires that the promoter must have building permissions and commencement certificate at the time of registering the project with MahaRERA. Thus, with no registration of the project with MahaRERA, no promoter will be able to push his bookings any more.

Share This:

Read all Thane Real Estate Latest News

 

To Know About Thane Real Estate Development Contact Us at 022 2580 6868

Source: content.magicbricks.com