Chapter 1: Course Orientation

1.1 Introduction

 Significance of Real Estate Agents:

o Agents act as key facilitators between allottees and promoters, handling
transactions related to marketing, advertising, sale, or purchase of
apartments.
o Recognized as essential stakeholders alongside allottees and promoters
under the Real Estate (Regulation and Development) Act, 2016 (RERA).

 Purpose:
o To ensure agents have a comprehensive understanding of real estate
transactions to guide allottees and reduce disputes.
o Introduction of a Capacity Building and Certification Program by
MahaRERA for agents to bring consistency in practices and enhance
regulatory knowledge.

1.2 Course Objectives s Outcomes

The course is designed to impart the following skills and knowledge:

1. Understanding of RERA Law:

o Its application from an agent's perspective to ensure informed practices.

2. Insight into MahaRERA Functions:

o A thorough understanding of its roles and operational scope.

3. Real Estate Fundamentals:

o Provides an industry overview to boost knowledge and competency.

4. Quantitative Real Estate Concepts:

o Essential numerical and analytical skills for the sector.

5. Professional Competency:
o Prepares agents for professional registration, ensuring adherence to legal
and ethical considerations.

6. Certification Readiness:
o Enables agents to appear for the MahaRERA online certification exam.

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 Chapter 2: Introduction to RERA (Real Estate
Regulation and Development Act, 2016)
Chapter 2 of the MahaRERA Real Estate Agent Handbook provides a foundational
understanding of the Real Estate Regulation and Development Act, 2016 (RERA). This
chapter explains the purpose, scope, objectives, and key components of the Act. RERA
was introduced to address challenges in the real estate sector, such as delays, lack of
transparency, and unfair practices, and to establish accountability for all stakeholders,
including developers, agents, and buyers.

2.1 Overview of RERA

What is RERA?
 RERA stands for Real Estate Regulation and Development Act, passed by the
Indian Parliament in 2016 and proposed by Dr. Girija Vyas.
 It came into effect on May 1, 2017 and is applicable across India, except Jammu
and Kashmir (at the time of enactment).
 The Act establishes Real Estate Regulatory Authorities (RERAs) in every state
to regulate the real estate sector and ensure consumer protection.

Purpose of RERA:
 To regulate and promote transparency in the real estate sector.
 To protect the rights of homebuyers.
 To establish a standardized legal framework for real estate transactions.
 To address grievances and ensure accountability among stakeholders.

2.2 Objectives of RERA

The Act was introduced to bring discipline and professionalism into the real estate
sector. Its objectives include:

1. Transparency and Information Sharing:

o Mandates promoters to disclose project details, including carpet area,
timelines, approvals, and financial status.
o Buyers can access project details on the MahaRERA portal.

2. Accountability for Project Delays:

o Promoters are accountable for delivering projects on time.
o Compensation must be paid for any delays beyond the agreed timeline.

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 3. Protecting Consumer Rights:
o Safeguards buyers against unfair practices, fraud, and misrepresentation.
o Ensures timely possession and a refund mechanism for buyers.

4. Standardization of Practices:
o Introduces a uniform definition of terms like carpet area, pricing, and
agreements.
o Mandates standardized agreements for sale to avoid ambiguity.

5. Promoting Financial Discipline:

o Requires promoters to deposit 70% of project funds into a separate
escrow account, ensuring that funds are used only for construction and
land-related expenses.

6. Grievance Redressal Mechanism:

o Provides a platform for resolving disputes between buyers, promoters,
and agents through state-level RERAs and Appellate Tribunals.

2.3 Scope of RERA

RERA applies to all stakeholders involved in the real estate sector, including:

1. Promoters/Developers:
o Must register projects with the state RERA before advertising or selling.
o Provide accurate and complete project details.

2. Real Estate Agents:

o Agents must register themselves with the state RERA.
o They must avoid unethical practices and provide correct information to
buyers.

3. Homebuyers:
o Protects the rights of homebuyers and ensures that they have access to
all necessary information about the project.

4. Projects Covered:
o All projects exceeding 500 square meters and 8 units must be registered
under RERA.
o Ongoing projects without a completion certificate are also required to
register.

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2.4 Key Components of RERA

RERA is structured into 10 chapters and G2 sections that address the various aspects
of the real estate industry. Below are some key provisions of the Act:

2.4.1 Mandatory Registration of Projects

 Promoters must register their projects with the state RERA before advertising,
marketing, or selling.
 Registration applies to both residential and commercial projects that:
o Exceed 500 sq. meters and 8 units.
o Do not have a completion certificate.

2.4.2 Carpet Area Definition

 Introduces a standardized definition of carpet area:
o The net usable floor area of a unit, excluding external walls, balconies,
and open spaces but includes internal walls.
 Ensures uniformity in pricing across the sector.

2.4.3 Agreement for Sale

 RERA mandates the use of a standardized agreement for sale to ensure
transparency.
 Key details include:
o Carpet area.
o Total cost and payment schedule.
o Timeline for possession.
o Penalties for delays or breaches.

2.4.4 Escrow Account

 Promoters must deposit 70% of the funds collected from allottees into a
separate escrow account.
 Withdrawals from the account are allowed only for land and construction
expenses, subject to certification by an engineer, architect, and chartered
accountant (Form 1, 2 and 3).

2.4.5 Advance Payment Limit

 Promoters cannot demand more than 10% of the unit cost as an advance
payment or booking amount without first signing an agreement for sale.

2.4.6 Consent for Changes

 Promoters cannot make any changes to the layout, plan, or amenities without
the consent of at least two-thirds of the allottees.

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2.5 Grievance Redressal Under RERA

2.5.1 Complaint Filing

 Stakeholders, including buyers, agents, and promoters, can file complaints with
the state RERA regarding:
o Delays in possession.
o Breach of agreement terms.
o Misrepresentation by promoters or agents.

2.5.2 Adjudication
 Disputes are resolved through adjudicating officers or the Appellate Tribunal.
 Compensation claims are also addressed under this mechanism.

2.5.3 Appellate Tribunal

 Aggrieved parties can appeal to the Real Estate Appellate Tribunal if they are
dissatisfied with RERA’s orders.
 Appeals can further be escalated to the High Court.

2.6 Offenses and Penalties Under RERA

RERA enforces strict penalties for violations of its provisions to ensure compliance.

2.6.1 For Promoters

1. Non-Registration:
o A penalty of up to 10% of the project cost.
2. False Advertising:
o Promoters can face fines and revocation of registration.
3. Delay in Possession:
o Must pay interest to the allottee for every month of delay.

2.6.2 For Agents

1. Unregistered Agents:
o Fine of ₹10,000 per day, up to 5% of the transaction cost.
2. Misrepresentation:
o Suspension or revocation of registration.

2.6.3 Imprisonment
 For serious violations, the Act allows imprisonment of up to 3 years for
promoters and up to 1 years for agents, or penalties, or both.

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2.7 Benefits of RERA

For Homebuyers:
1. Assurance of project completion and delivery.
2. Protection against false advertising or misrepresentation.
3. Refunds or compensation in case of project delays.

For Promoters:
1. Boosts credibility and trust with buyers.
2. Establishes standardized processes for project approvals and sales.

For Agents:
1. Ensures transparency and ethical practices in transactions.
2. Helps build trust with clients.

2.8 Challenges Addressed by RERA

1. Delays in Project Completion:
o RERA mandates timely delivery and penalizes promoters for delays.
2. Unclear Pricing:
o Standardized definition of carpet area eliminates pricing ambiguities.
3. Fund Diversion:
o The escrow account ensures project funds are used solely for the project.
4. Consumer Exploitation:
o Buyers are empowered with access to accurate project details and a
grievance redressal mechanism.

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 Chapter 3: Maharashtra Real Estate Regulatory
Authority (MahaRERA)
Chapter 3 of the MahaRERA Real Estate Agent Handbook provides an in-depth overview
of the Maharashtra Real Estate Regulatory Authority (MahaRERA). This chapter focuses
on its establishment, objectives, functions, and the critical role it plays in regulating the
real estate sector to promote transparency, accountability, and efficiency.

3.1 Establishment of MahaRERA

 MahaRERA was established under the Real Estate (Regulation and

Development) Act, 2016 (RERA), which came into effect on May 1, 2017.

 It is responsible for regulating the real estate sector in Maharashtra, as well as

the Union Territories of Daman s Diu and Dadra s Nagar Haveli.

 The primary goal of MahaRERA is to ensure transparency, accountability, and

consumer protection in the real estate industry.

Structure of MahaRERA:

1. Chairperson:
o Heads the authority and oversees its operations.
2. Members:
o Experts in law, real estate, economics, and finance.
3. Adjudicating Officers:
o Handle disputes and decide on compensation claims.

3.2 Key Functions of MahaRERA

MahaRERA is tasked with regulating real estate activities, maintaining fairness, and
ensuring compliance with RERA provisions.

3.2.1 Registration of Real Estate Projects and Agents

 All real estate projects exceeding 500 square meters and 8 apartments must be
registered with MahaRERA.
 Real estate agents facilitating transactions in registered projects must also
register with MahaRERA.

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3.2.2 Ensuring Compliance
 MahaRERA ensures that:
o Promoters provide accurate information about the project timeline,
carpet area, and approvals.
o Agents comply with ethical practices and avoid misrepresentation.
o Buyers fulfill their obligations as outlined in the agreement for sale.

3.2.3 Monitoring and Inspection

 MahaRERA monitors the progress of registered projects through:
o Quarterly updates submitted by promoters.
o Random inspections to ensure adherence to approved plans and
timelines.

3.2.4 Grievance Redressal

 MahaRERA addresses complaints filed by stakeholders, including:
o Buyers regarding delays, misrepresentation, or quality issues.
o Promoters regarding buyer defaults.
o Agents regarding disputes with buyers or promoters.
 Complaints are resolved through adjudication, conciliation, or orders issued by
the authority.

3.2.5 Rulemaking and Guidelines

 MahaRERA formulates rules, regulations, and guidelines to:
o Simplify the registration process.
o Ensure fair practices in real estate transactions.
o Enhance consumer awareness.

3.3 Pillars of MahaRERA

MahaRERA’s functions are guided by five fundamental principles to ensure a better-

regulated real estate sector:

3.3.1 Transparency
 Ensures that buyers have access to all necessary project information.
 Promoters must disclose:
o Carpet area, unit price, and amenities.

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 o Sanctioned plans and layout approvals.
o Project timeline and expected completion date.

3.3.2 Accountability
 Promoters are held accountable for project delivery as per the terms agreed with
buyers.
 Agents are responsible for providing accurate and reliable information about
projects and promoters.

3.3.3 Financial Discipline

 Mandates that 70% of funds received from allottees are deposited in a separate
escrow account.
 Funds can only be withdrawn for construction purposes in proportion to the
project’s progress, verified by a chartered accountant, engineer, and architect.

3.3.4 Consumer-Centricity
 MahaRERA empowers buyers by ensuring they:
o Receive timely possession of their property.
o Have access to all project-related details.
o Society formation within 90 days of 51% sales.
o Convience within 90 days of OC.
o Are entitled to compensation in case of delays or misrepresentation.

3.3.5 Compliance
 Promoters and agents must strictly adhere to MahaRERA guidelines and
timelines.
 Non-compliance leads to penalties, revocation of registration, or other legal
actions.

3.4 Grievance Redressal Mechanism

MahaRERA has established an efficient system for resolving disputes among

stakeholders.

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3.4.1 Filing Complaints
1. Who Can File?:
o Buyers, promoters, and agents can file complaints regarding:
 Project delays.
 Breach of agreement terms.
 False advertising or misrepresentation.
o Complaints can be filed online through the MahaRERA portal.
2. Fee for Filing:
o A nominal fee is charged for submitting complaints.

3.4.2 Resolution Process

 MahaRERA follows a structured process for resolving disputes:
o Conciliation Forums: Promotes amicable settlements between
stakeholders.
o Adjudication: Issues orders based on evidence and arguments.
o Appellate Tribunal: Handles appeals against MahaRERA orders.
o High Court: Final level of appeal for aggrieved parties.

3.4.3 Compensation Claims

 Buyers are entitled to claim compensation for delays, project cancellations, or
violations of agreement terms.
 MahaRERA ensures fair evaluation and awarding of compensation through its
adjudicating officers.

3.5 Enforcement and Penalties

MahaRERA ensures compliance with its regulations through strict enforcement and
penalties for violations.

3.5.1 Penalties for Promoters

 Failure to Register: Fine of up to 10% of the project cost.
 False Advertising: Promoters can face fines or revocation of project registration.
 Delay in Delivery: Promoters must pay interest and compensation to allottees.

3.5.2 Penalties for Real Estate Agents

 Unregistered Agents: Fine of ₹10,000 per day, up to 5% of the transaction value.

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  Misrepresentation: Suspension or revocation of the agent’s registration.

3.5.3 Offenses and Imprisonment

 Serious violations, such as fraud or fund diversion, can result in imprisonment of
up to 3 years for promoters, agents, or other stakeholders.

Chapter 4: Understanding the MahaRERA Portal

Chapter 4 of the MahaRERA Real Estate Agent Handbook explains the MahaRERA
portal, its features, and the services available for different stakeholders, including real
estate agents, promoters, and allottees. The portal serves as a one-stop platform for
managing registrations, complaints, and project updates. This chapter provides an in-
depth understanding of how to navigate and utilize the portal effectively.

4.1 Overview of the MahaRERA Portal

The MahaRERA portal is a digital platform designed to bring transparency and efficiency
to the real estate sector. It allows users to:
1. Access project and agent details.
2. File and track complaints.
3. Verify project registration and approval statuses.
4. Ensure compliance with MahaRERA rules.
Website Link: https://maharera.mahaonline.gov.in (Old)

4.2 Key Features of the MahaRERA Portal

4.2.1 Stakeholder-Specific Features

The portal provides tailored services for:

1. Real Estate Agents:

o Registration and renewal of agent licenses.
o Access to project details to ensure compliance with RERA regulations.
o Complaint filing and tracking.
2. Promoters:
o Register real estate projects.

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 o Submit quarterly updates on project progress.
o Upload sanctioned plans, approvals, and project details.
3. Allottees (Homebuyers):
o Search and verify project details.
o File complaints against promoters or agents.
o Access legal orders and project statuses.

4.2.2 Menu Options and Features

The portal has the following key sections:

1. Home Page:
o Overview of MahaRERA’s objectives.
o Links to important notifications, circulars, and FAQs.
2. Project Registration:
o Allows promoters to register their projects online.
o Displays project details, including:
 Carpet area.
 Approvals.
 Estimated completion dates.
o Buyers can search projects using their registration numbers.
3. Agent Registration:
o Enables real estate agents to:
 Apply for new registrations.
 Renew existing registrations.
 Download certificates with their unique registration numbers.
4. Complaint Filing:
o Any stakeholder (buyer, promoter, or agent) can file complaints related to
real estate transactions.
o The section includes:
 Online complaint form submission.
 Facility to attach relevant documents.
 Complaint status tracking.
5. Search Options:
o Project Search: Buyers can search for registered projects using
parameters like project name, promoter name, or registration number.
o Agent Search: Buyers and promoters can verify the registration status of
real estate agents.
o Order Search: Access orders issued by MahaRERA for specific
complaints or disputes.
6. Help Desk and FAQs:

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 o Provides resources for common queries about registrations, payments,
and dispute resolutions.
o Includes contact details for further assistance.

4.3 Filing a Complaint

1. Visit the Complaint Filing section.
2. Fill in the required details:
o Stakeholder type (buyer, promoter, or agent).
o Nature of the complaint (e.g., project delay, misleading advertisement).
o Attach supporting documents.
3. Submit the complaint.
4. Use the Complaint Tracking section to monitor the status of your submission.

4.4 Benefits of the MahaRERA Portal

1. Transparency:
o Provides clear and accessible information about registered projects,
agents, and promoters.
o Reduces the risk of fraud and misinformation.
2. Ease of Use:
o A user-friendly interface with step-by-step guidance for registrations and
complaints.
o Enables stakeholders to access important information and services from
anywhere.
3. Time-Saving:
o Simplifies processes like registrations, renewals, and complaint filing.
o Eliminates the need for physical paperwork.
4. Accountability:
o Ensures that promoters and agents comply with MahaRERA rules.
o Allows buyers to verify project and agent credentials before making
decisions.
5. Effective Dispute Resolution:
o Facilitates filing and tracking of complaints in a structured manner.
o Promotes faster resolution of disputes through adjudication and orders.

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 Chapter 5: Real Estate Agent Registration and
Responsibilities
Chapter 5 of the MahaRERA Real Estate Agent Handbook focuses on the registration
process for real estate agents, the responsibilities they must adhere to, and the
consequences of non-compliance. It provides a step-by-step guide for agents to
register under MahaRERA and outlines the essential duties and ethical practices
expected from them.

5.1 Who is a Real Estate Agent as per RERA?

 A Real Estate Agent is defined under Section 2(zm) of the RERA Act as any
person who:
o Facilitates the sale or purchase of plots, apartments, or buildings in a real
estate project.
o Acts on behalf of one person in a real estate transaction.
o Earns remuneration or fees for their services, whether as a commission or
otherwise.
o Includes property dealers, brokers, and middlemen.

 Key Points:
o Anyone fitting this definition is considered a real estate agent under
RERA.
o Agents must register with MahaRERA to operate legally in the real estate
market.

5.2 Registration of Real Estate Agents as per Section G of the RERA Act

Mandatory Registration:

 Section G(1): No real estate agent can facilitate the sale or purchase of any
property in a registered project without registering with MahaRERA.

Application Process:

 Section G(2): Agents must apply for registration in the prescribed form, pay the
required fees, and submit supporting documents.

 Documents Required:

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 o Identity proof (e.g., PAN, Aadhaar).
o Business registration documents (for companies or partnerships).
o Past experience details, if applicable.
o Income tax returns for the last three financial years (or a declaration if
exempted).

Approval Process:

 Section G(3):
o The Authority will verify the application and grant a single registration valid
for the entire state.
o If rejected, the Authority must provide reasons in writing, and the
applicant must be given a chance to be heard.

Validity and Renewal:

 Section G(6):
o Registration is valid for 5 years and must be renewed thereafter by
submitting an application and the required fees.
o Renewal applications must be submitted at least 60 days before expiry.

Deemed Registration:

 Section G(4): If the Authority fails to respond to the application within the
prescribed time, the registration is deemed approved.

Unique Registration Number:

 Every registered agent is issued a unique registration number that must be

quoted in all transactions, advertisements, and documents.

5.3 Types of Real Estate Agents

MahaRERA recognizes two categories of real estate agents:

1. Individual Real Estate Agents:

o Operate under their personal identity.
o Responsible for all transactions and dealings independently.
o Registration is issued in their name.

2. Non-Individual Real Estate Agents:

o Operate under a company, partnership firm, or any organization.

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 o The organization is responsible for the actions of all employees involved
in real estate transactions.
o Registration is issued in the name of the organization.

Importance of Differentiation:
 For organizations, liability extends to all employees representing the company.
 Communication from the organization must include the MahaRERA registration
number.

5.4 Registration Application and Process

Application Process:

 Rule 11 of MahaRERA Rules:

o Agents must apply using Form 'G' and provide:
1. Name, address, and type of enterprise (individual or organization).
2. PAN and Aadhaar details.
3. Income tax returns (or exemption declaration) for the last 3 years.
4. Proof of address and business location.
5. Details of past real estate projects (if applicable).
6. Photographs (for individuals or organization representatives).

Registration Fees:
 ₹10,000 for individuals.
 ₹1,00,000 for organizations (non-individuals).
 Payments must be made through digital modes like NEFT or RTGS.

Approval and Certificate:

 MahaRERA issues a Certificate of Registration (Form 'H') for successful
applications.
 The certificate includes the unique registration number.

Renewal:
 Renewal applications (Form 'J') require updated documents and the same fee as
new registrations.
 Upon renewal, MahaRERA issues a new certificate (Form 'K') valid for another 5
years.

5.5 Renewal of Registration of Real Estate Agents

1. Timeline for Renewal:

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 o Apply for renewal at least 60 days before registration expires.
2. Documents for Renewal:
o Updated details and documents, including PAN, Aadhaar, and address
proof.
o Updated details of projects handled (if applicable).
3. Rejection of Renewal:
o The Authority must provide reasons in writing for rejection and give the
agent an opportunity to be heard.
4. Validity of Renewal:
o Renewal is granted for 5 years from the date of approval.

5.6 Functions of Real Estate Agents

Real estate agents have specific functions and responsibilities under the RERA Act:

As per Section 10 of RERA:

1. Facilitate Registered Projects Only:
o Agents cannot facilitate the sale, purchase, or marketing of properties in
unregistered projects.
2. Maintain Records:
o Agents must maintain books of accounts, records, and documents
related to their transactions.
3. Avoid Unfair Trade Practices:
o Agents must not:
 Misrepresent the services or quality of a project.
 Provide false or misleading information about project approvals.
 Advertise or promote services that are not intended to be offered.
4. Provide Information to Buyers:
o Agents must ensure buyers receive all information about the project,
including:
 Carpet area.
 Approvals and sanctions.
 Terms of the agreement.
Additional Obligations (Rule 14):
1. Display Registration Details:
o Agents must prominently display their MahaRERA registration number at
their place of business and on all marketing materials.
2. Preserve Financial Records:
o Agents must preserve transaction records in compliance with laws like
the Income Tax Act or the Companies Act.

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 3. Assist Promoters and Buyers:
o Agents should ensure that promoters and allottees fulfill their respective
obligations.

5.7 Revocation of Registration of Real Estate Agents

Grounds for Revocation:

1. Breach of conditions under RERA rules.
2. Fraud or misrepresentation during registration.
3. Unethical or illegal practices.
Consequences:
1. Suspension or revocation of registration.
2. Prohibition on further transactions during suspension.
3. Agents with revoked registrations cannot apply for re-registration for 6 months.
Opportunity to be Heard:
 Before revocation, MahaRERA provides the agent with an opportunity to present
their case.

5.8 Step-by-Step Guidance for Agent Registration on MahaRERA Web Portal

Steps for Individual Registration:

1. Visit the MahaRERA web portal: https://maharera.mahaonline.gov.in.
2. Click on “Online Application” and select New Registration.
3. Fill in the required details:
o User Type: Real Estate Agent.
o State: Maharashtra.
o User ID, password, and contact details.
4. Verify your email ID and activate your account.
5. Log in and complete your profile:
o Add personal details, address, and contact information.
o Upload identity proof and past project details (if applicable).
6. Pay the registration fee.
7. Submit the application for review.
Steps for Non-Individual Registration:
1. Follow the same steps as above but select the type of organization (e.g.,
company or partnership).
2. Submit additional documents like:
o Memorandum and Articles of Association (MOA/AOA) for companies.
o Partnership deed for partnerships.

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 Chapter 6: Real Estate Project Registration and
Promoter Responsibilities
Chapter 6 of the MahaRERA Real Estate Agent Handbook explains the mandatory
registration process for real estate projects under RERA, the responsibilities of
promoters, and the penalties for non-compliance. It is a critical chapter as it lays the
foundation for ensuring accountability and transparency in the real estate sector.

6.1. Registration of Real Estate Projects

Requirement for Registration:

1. Mandatory Registration:
o All commercial and residential real estate projects must register with
MahaRERA, except:
 Projects covering less than 500 sq. meters of land.
 Projects with less than 8 apartments, including all phases.
 Projects that have already received a completion certificate
before the commencement of RERA.
 Projects undertaken for renovation, repair, or redevelopment
without marketing, advertising, or new allotments.

2. Registration for Ongoing Projects:

o Ongoing projects (as of RERA enforcement) without a completion
certificate must register with MahaRERA.

3. Prohibition on Marketing Without Registration:

o Promoters cannot advertise, market, sell, or offer plots, apartments, or
buildings in a project without MahaRERA registration.

4. Consequences of Non-Registration:
o Failure to register may result in a penalty of up to 10% of the project’s
estimated cost.
o Continued violations can lead to imprisonment (up to 3 years) or
additional fines, or both.

6.2. Registration Application and Process

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Application Process:

1. Application Submission:
o The promoter must submit an application to MahaRERA in the prescribed
format along with the necessary documents and fees.

2. Documents Required for Registration:

o Details of the promoter's enterprise (e.g., name, registered address, type
of organization).
o Ownership proof or title deed of the land and legal right to develop the
property.
o Details of encumbrances (if any) on the property.
o Sanctioned plans, layout plans, and other project approvals.
o Location details, including latitude and longitude.
o Details of carpet area, apartments, and pricing.
o A declaration by the promoter about the completion timeline and
adherence to legal obligations.

3. Fee Structure:
o Fees are based on the size of the project and type of development (e.g.,
residential or commercial).

Approval Process:
 MahaRERA reviews the application and documents.
 Upon satisfaction, MahaRERA registers the project and provides a unique
registration number.
 If rejected, reasons are provided in writing, and the promoter is given an
opportunity to be heard.

6.3. Extension of Registration

Conditions for Extension:

 Registration can be extended for 1 year in case of delays due to:
o Natural calamities such as earthquakes, floods, or other unforeseen
circumstances (force majeure).
o Other reasonable causes, subject to MahaRERA's approval.

Application for Extension:

 Promoters must apply for an extension at least 3 months before the registration
expiry.

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  The application must include justifications for the delay and supporting
documents.
Penalty for Lapse of Registration:
 Promoters cannot advertise, market, or sell any units in a project if registration
lapses without renewal.

6.4. Revocation of Registration

Grounds for Revocation:

 MahaRERA may revoke a project’s registration if:
o The promoter violates RERA provisions, rules, or regulations.
o The promoter provides false or misleading information during
registration.
o The promoter engages in unfair practices or fails to adhere to the terms
of agreement with allottees.

Consequences of Revocation:

1. Prohibition on Transactions:
o Promoters are barred from selling, advertising, or transferring units in the
project.
2. Completion by Authority:
o MahaRERA may take over the project and appoint a third party to
complete it.
3. Informing Stakeholders:
o All allottees and stakeholders are informed of the revocation decision.

6.5. Functions and Duties of Promoters

Promoters play a crucial role in ensuring compliance with MahaRERA regulations and
protecting the interests of allottees. Below are their key responsibilities:

6.5.1. Transparency Obligations:

1. Disclosure of Project Details:

o Promoters must provide complete and accurate details of the project on
the MahaRERA portal, including:
 Sanctioned plans and layout.
 Carpet area and total number of apartments.
 Quarterly updates on project progress, sales, and approvals.

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 2. No Misleading Advertisements:
o Promoters cannot advertise false or misleading information about the
project.
o Advertisements must include the MahaRERA registration number.
6.5.2. Financial Discipline:
1. Separate Bank Account:
o Promoters must deposit 70% of the project funds received from allottees
into a separate account.
o Funds can only be used for construction and land costs, ensuring
financial transparency.
2. Withdrawal Restrictions:
o Withdrawals from the account must be proportional to project
completion and certified by:
 A chartered accountant.
 An engineer.
 An architect.
3. Timely Payments:
o Promoters must pay any penalties, fees, or charges as required by
MahaRERA.

6.5.3. Compliance with Agreements:

1. Adherence to Timelines:
o Promoters must complete the project as per the timeline agreed in the
sale agreement.
o Any delays require compensation to the allottee.

2. Model Agreement for Sale:

o Promoters must execute a sale agreement with allottees as per
MahaRERA-prescribed formats.

3. Formation of Society or Association:

o Promoters must facilitate the formation of a society, association, or
federation of allottees within 3 months of 51% allottees taking
possession.

4. Conveyance of Title:
o Promoters must transfer the title of the land and building to the
society/association within the stipulated time.

6.5.4. Obligations Toward Allottees:

1. Delivery of Possession:

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 o Promoters must deliver possession of the property to allottees on or
before the agreed date.
o In case of delay, the allottee can claim interest or a refund.

2. Consent for Changes:

o Promoters cannot make structural changes or modifications to the
project without the consent of two-thirds of the allottees.

Chapter 7: Allottees and Their Responsibilities

Chapter 7 of the MahaRERA Real Estate Agent Handbook focuses on the rights,
obligations, and responsibilities of allottees (buyers/homebuyers) as key
stakeholders in real estate transactions. This chapter also explains dispute resolution
mechanisms, the penalties applicable for non-compliance, and procedures for
addressing grievances.

7.1 Rights of Allottees

The Real Estate (Regulation and Development) Act, 2016 (RERA) protects the rights of
allottees to ensure fairness and transparency in property transactions.

Key Rights of Allottees:

1. Right to Information:
o Allottees are entitled to obtain complete and accurate information about
the project.
o Includes sanctioned plans, layout plans, government approvals, and
MahaRERA registration details.

2. Right to Possession:
o Allottees are entitled to possession of the property as per the agreed
timelines stated in the sale agreement.
o The allottee has the right to common areas and facilities once the
promoter transfers them to the society/association.

3. Right to Refund:
o In case of project delays or failure to deliver possession:
 Allottees can claim a full refund of the amount paid, along with
interest.

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  Alternatively, they can choose to stay in the project and claim
interest for the delayed possession.

4. Right to Approve Changes:

o Promoters cannot make major alterations or additions to the project
without the consent of at least two-thirds of the allottees.

5. Right to File Complaints:

o Allottees can file complaints with MahaRERA if promoters fail to comply
with their obligations under RERA.

6. Right to Compensation:
o Allottees can claim compensation for false or misleading advertisements
or for losses caused due to the promoter's actions.

7.2 Obligations of Allottees

While RERA ensures the rights of allottees, it also outlines their responsibilities to
promote transparency and accountability.

Key Obligations of Allottees:

1. Timely Payment:
o Allottees are required to make payments for the property as per the terms
of the agreement for sale.
o Includes payment of taxes, registration charges, and maintenance fees.
2. Participation in Formation of Association/Society:
o Allottees must actively participate in the formation of a society,
association, or cooperative to manage the common areas and facilities in
the project.
3. Adherence to Terms:
o Allottees must comply with the terms mentioned in the agreement for
sale, including timelines for payment and possession.
4. Possession of the Property:
o Allottees must take possession of the property within two months of
receiving the occupancy certificate.
5. No Misuse of Property:
o Allottees must not use the property for any unauthorized purposes or in
violation of project norms.

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7.3 Dispute Resolution

MahaRERA has established a robust mechanism to address disputes between

promoters, allottees, and other stakeholders.

7.3.1 Complaints
1. Who Can File a Complaint:
o Any allottee, promoter, or real estate agent can file a complaint with
MahaRERA regarding violations of RERA provisions.
2. Procedure to File a Complaint:
o Submit the complaint in writing to MahaRERA through the online portal or
in person.
o Include project details, registration number, and specifics of the violation.
3. Hearing and Resolution:
o MahaRERA schedules a hearing for the concerned parties.
o The authority aims to resolve complaints quickly through adjudication.

7.3.2 Adjudication
1. Role of the Adjudicating Officer:
o Handles complaints related to compensation claims under Section 71 of
RERA.
2. Compensation Award:
o Adjudication involves assessing the damages or losses incurred by the
allottee and determining the amount of compensation.

7.3.3 Conciliation
1. MahaRERA Conciliation Forum:
o Promotes amicable dispute resolution between allottees and promoters.
o Saves time and costs associated with litigation.
2. Process:
o Both parties agree to resolve the dispute through conciliation.
o A conciliator facilitates the settlement discussions.

7.3.4 Appeals
1. Appellate Tribunal:
o If a party is dissatisfied with MahaRERA’s decision, they can file an appeal
with the Appellate Tribunal within 60 days of the order.

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 2. High Court Appeals:
o Further appeals can be made to the High Court within 60 days of the
Tribunal’s order, provided the party is still aggrieved.

7.4 Penal Provisions

RERA imposes penalties for non-compliance by all stakeholders, including promoters,

agents, and allottees.

7.4.1 Penal Provisions for Promoters:

1. Non-registration: Section 59
o Penalty of up to 10% of the project cost for not marketing/advertising
/sales/purchase. On continued violation, additional penalty up to 10%
and/or 3 years of jail.
2. False Information: Section 60
o Penalty of up to 5% of the project cost for providing false information or
violating project registration requirements.
3. Penalty for contravention of the provisions of the Act: Section 61
o If any promoter contravenes any other provisions of this Act or the rules or
regulations made thereunder, he shall be liable to a penalty which may
extend up to 5% of the estimated cost of the real estate project.
4. Penalty for Non-Compliance with RERA Orders: Section 63
o Failure by a promoter to comply with the orders or directives of RERA can
result in penalties of up to 5% of the project cost.
5. Penalty for Non-Compliance with Appellate Tribunal Orders: Section 64
o Failure by a promoter to comply with the orders or directives of Appellate
Tribunal can attract up to 10% of project cost. On continued violation,
additional penalty up to 10% and/or 3 years of jail.
6. Project Delays:
o Promoters must pay interest for delays in project completion or
possession.
7. Cancellation of Registration:
o MahaRERA can cancel the registration of a project for serious violations.

7.4.2 Penal Provisions for Real Estate Agents:

1. Failure to Register s Contravention of provisions of Act: Section 62
o A penalty of ₹10,000 per day, up to 5% of the property cost, for
unregistered agents.
2. Penalty for Non-Compliance with RERA Orders: Section 65

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 o Failure by an agent to comply with the orders or directives of RERA can
result in penalties of up to 5% of the unit cost.
3. Penalty for Non-Compliance with Appellate Tribunal Orders: Section 66
o Failure by a promoter to comply with the orders or directives of Appellate
Tribunal can attract up to 10% of unit cost and/or 1 years of jail.

7.4.3 Penal Provisions for Allottees:

1. Non-Payment of Dues:
o Allottees failing to pay dues as per the agreement can be charged interest
for the delay.
2. Non-Compliance:
o If allottees fail to adhere to RERA obligations or agreement terms, legal
action can be taken by promoters.
3. Penalty for Non-Compliance with RERA Orders: Section 67
o Failure by an allottee to comply with the orders or directives of RERA can
result in penalties of up to 5% of the unit cost.
4. Penalty for Non-Compliance with Appellate Tribunal Orders: Section 68
o Failure by a allottee to comply with the orders or directives of Appellate
Tribunal can attract up to 10% of unit cost and/or 1 years of jail.

7.4.4 Offense by Companies:

1. Liability of Officials: Section 69

o If a company commits a violation, its officers (e.g., directors, managers)

will be held responsible unless they prove due diligence.

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 Chapter 8: Due Diligence Before Facilitating Property
Sales
This chapter focuses on the due diligence process that a real estate agent must follow
before facilitating the sale of a property. These steps ensure transparency, protect the
interests of both buyers and sellers, and help prevent disputes. Below is a detailed
breakdown of the key aspects covered in Chapter 8:

8.1. Verify Promoter Identity and Project Details on MahaRERA Website

 Why Verification is Important:

o Ensures that the promoter is legitimate and authorized to develop the
project.
o Confirms the project is registered with MahaRERA as required under
RERA regulations.
 Key Points to Verify:
o Promoter's name, organization details, and contact information.
o Project registration number and validity.
o Status of the project: ongoing, completed, or lapsed.
o Details of approvals and certifications uploaded on the MahaRERA portal.

8.2. Title of Property

 What to Check:
o Ensure the title deed of the property is clear and undisputed.
o Verify ownership of the land and whether it is free from encumbrances.
o Cross-check documents to confirm that the promoter has legal rights to
develop and sell the property.
 Documents to Examine:
o Title deed of the property.
o Encumbrance certificate to ensure the property is free of legal liabilities
like loans or claims.
o Land use certificate to confirm compliance with local zoning regulations.

8.3. Building Approvals and Commencement Certificate

 Building Approvals:

For Admissions/Queries: +G1 GG67G22340 P a g e | 2G

 o Verify that the project has all necessary approvals from the local
municipal or planning authority.
o Approvals may include layout plans, building permits, and environmental
clearances.

 Commencement Certificate:
o This document proves that construction has begun lawfully.
o It is issued by the local authority after inspecting the compliance of the
project with approved plans and regulations.

8.4. Status of Tax Payments

 Why Check Tax Payments?:

o To ensure that there are no pending dues that could affect the property's
legal status or ownership.
o Unpaid taxes could lead to complications or penalties for the buyer in the
future.
 Documents to Check:
o Property tax receipts for the current year.
o Tax clearance certificates for previous years (if applicable).

8.5. Litigations Against the Project

 What to Verify:
o Check for any ongoing or past legal disputes involving the property or the
promoter.
o Litigation may include issues related to land ownership, building
approvals, or delays in project completion.
 Where to Check:
o MahaRERA portal’s "Complaints" section.
o Local court records or legal notices associated with the promoter or
project.

8.6. Allotment Letter and Model Form of Agreement

 Allotment Letter:
o It specifies the buyer’s details, property details (e.g., unit number, carpet
area), payment terms, and project completion timeline.

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 o Ensure the letter is signed and issued by the promoter.

 Model Agreement:
o Ensure the agreement is in line with MahaRERA’s prescribed format under
Section 13(2) of RERA.
o Important Clauses to Review:
 Carpet area and amenities offered.
 Payment schedule and penalties for delays.
 Rights and obligations of both the buyer and the promoter.

8.7. MahaRERA Carpet Area

 Definition:
o Carpet area is the net usable floor area of an apartment, excluding
common areas, balconies, and terrace spaces.
o It is clearly defined under RERA to bring uniformity and transparency in
real estate transactions.
 Why Verify?
o To ensure that the carpet area mentioned in the agreement matches the
one registered with MahaRERA.
o Avoids discrepancies or overcharging based on inflated carpet area
measurements.

Chapter G: Sales Process, Forms, and Agreements

Chapter 9 of the MahaRERA Real Estate Agent Handbook discusses the critical
components of the sales process, the documentation required, and agreements that
safeguard the interests of all stakeholders, including promoters and allottees. This
chapter also highlights taxation aspects, including TDS (Tax Deducted at Source), and
basic information about home loans and mortgages. The chapter is essential for
understanding the steps involved in property transactions and compliance with RERA
norms.

G.1 Allotment Letter

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An allotment letter is a crucial document issued by the promoter to the allottee after
the booking of a unit. It details the terms and conditions of the sale, providing an initial
agreement between both parties.

Key Components of an Allotment Letter:

1. Details of the Buyer and Property:
o Name and contact details of the allottee.
o Unit number, carpet area, and floor plan of the allotted unit.
2. Payment Details:
o Total cost of the unit, including taxes and additional charges (e.g., parking
fees, maintenance deposits).
o Payment schedule for instalments and due dates.
3. Project Details:
o MahaRERA registration number of the project.
o Timeline for project completion and possession.
4. Terms and Conditions:
o Penalty clauses for delay in payment by the buyer or delivery by the
promoter.
o Conditions under which the booking may be cancelled.
Importance:
 The allotment letter acts as a preliminary agreement and reference document
until the Agreement for Sale is executed.
 It is a binding document for both parties and forms the basis for further legal
agreements.

G.2 Model Form of Agreement

The Agreement for Sale is a legally binding document between the promoter and the
allottee. Under RERA, a standardized model agreement format is mandated to ensure
transparency and uniformity.

Key Features of the Agreement:

1. Carpet Area and Price:
o Clearly defined carpet area and the unit's price, inclusive of all charges.
o Breakdown of taxes and other fees.
2. Timeline for Completion:
o The promoter must specify the date of possession in accordance with the
timeline registered with MahaRERA.
3. Payment Terms:
o Details of the payment schedule.

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 o Penalties for delayed payments by the allottee and delayed possession by
the promoter.
4. Title and Encumbrance:
o The promoter must declare a clear title to the property and disclose any
encumbrances.
5. Alterations and Modifications:
o Promoters cannot make major alterations to the unit or project without
obtaining consent from two-thirds of allottees.
6. Formation of Association:
o Promoters must facilitate the formation of an association or society of
allottees after the majority of units are sold.
7. Cancellation Clauses:
o Outlines the terms under which the allottee or promoter can cancel the
agreement.
o Refund process and penalties in case of cancellation.
Importance:
 Ensures clarity and accountability between the promoter and allottee.
 Protects the interests of allottees by standardizing legal clauses.

G.3 Applicability of TDS (Tax Deducted at Source)

TDS on Property Transactions:

1. Requirement Under Law:
o As per Section 194-IA of the Income Tax Act, a TDS of 1% must be
deducted by the buyer on the purchase of immovable property if the
property's sale value exceeds ₹50 lakhs.
2. Process:
o The buyer deducts the TDS amount at the time of making the payment to
the seller.
o The deducted amount must be deposited with the government using
Form 26QB.
3. Responsibilities of the Buyer:
o Deduct TDS before making the payment to the seller.
o File a TDS return and issue Form 16B to the seller as proof of tax
deduction.
4. Implications for Promoters:
o The promoter must provide PAN details to the buyer for compliance.
o Failure to comply with TDS rules may result in penalties for the buyer.

TDS on Brokerage Payments:

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 1. Brokerage Transactions:
o If brokerage payments to agents exceed ₹15,000, TDS of 5% is applicable.
(old)
o The brokerage recipient must provide their PAN to avoid higher TDS
deductions.

Importance of TDS:
 Helps in tracking property transactions and prevents tax evasion.
 Ensures compliance with tax laws for both buyers and promoters.

G.4 Basic Knowledge of Home and Mortgage Loans

This section provides essential information for agents and allottees to understand the
financial aspects of property purchases.

Home Loans:
1. Purpose:
o Loans provided by banks or financial institutions for purchasing
residential property.
o Generally offered for 75-90% of the property value, with the rest funded by
the buyer.
2. Key Terms:
o Loan Tenure: The repayment period, typically 10-30 years.
o Interest Rate: Can be fixed or floating.
o EMI (Equated Monthly Installment): Fixed monthly repayment amount
comprising principal and interest.
3. Eligibility:
o Determined based on the borrower’s income, age, credit score, and
financial liabilities.
4. Documents Required:
o Identity and address proof.
o Income proof (salary slips, ITR, etc.).
o Property documents, including the agreement for sale.

Mortgage Loans:

1. Definition:
o A type of secured loan where the borrower pledges their property as
collateral.
o Typically used for large financial requirements or refinancing existing
loans.
2. Key Features:

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 o The property remains mortgaged with the lender until the loan is repaid.
o In case of default, the lender has the right to auction the property to
recover the dues.
3. Difference Between Home and Mortgage Loans:
o Home Loan: Specifically for property purchase; lower interest rates.
o Mortgage Loan: A general-purpose loan secured by property; higher
interest rates.

Chapter 10: Real Estate Calculations

Chapter 10 of the MahaRERA Real Estate Agent Handbook focuses on the financial
calculations involved in real estate transactions. It covers important components like
taxes, government levies, and fees associated with property purchases. The chapter
also explains the cost sheet details and provides an overview of taxation elements like
GST, TDS, and stamp duty, which are critical for understanding the financial aspects of
the real estate industry.

10.1 Taxation/Government Fees and Levies

Real estate transactions involve multiple taxes, government charges, and levies that
buyers and promoters need to be aware of. Below are the key components:

10.1.1 Goods and Services Tax (GST)

1. Applicability:
o GST is applicable on the sale of under-construction properties.
o It is not applicable to fully constructed and completed properties with an
occupancy/completion certificate.
2. GST Rates: (Till March 2019)
o Residential properties: 8% for affordable housing and 12% for non-
affordable housing (with Input Tax Credit).
o Commercial properties: 12% (with Input Tax Credit).
3. GST Rates: (From April 2019)
o Residential properties: 1% for affordable housing and 5% for non-
affordable housing (without Input Tax Credit).
o Commercial properties: 12% (without Input Tax Credit).
4. Affordable Housing Definition:

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 o Properties priced up to ₹45 lakhs and having a carpet area of:
 Up to 60 sq. meters in metropolitan cities.
 Up to G0 sq. meters in non-metropolitan cities.
5. Impact on Real Estate:
o GST simplifies tax compliance by subsuming various indirect taxes.
o Promoters must ensure proper invoicing and tax filing to avoid penalties.

10.1.2 Tax Deduction at Source (TDS)

1. TDS on Property Purchases:

o Buyers must deduct 1% TDS on property transactions where the sale
value exceeds ₹50 lakhs (Section 194-IA of the Income Tax Act).
o All residential society-based charges such as club membership fee, car
parking fee, electricity or water facility fee, maintenance fee, advance fee
or any other charges of similar nature, which are incidental to transfer of
the immovable property, for levy of TDS
o TDS must be deposited with the government within 30 days of deduction
using Form 26QB.
2. TDS on Brokerage Payments:
o TDS at 5% is applicable on brokerage payments exceeding ₹15,000.
3. Role of Real Estate Agents:
o Agents should guide buyers and promoters regarding TDS compliance to
ensure smooth transactions.

10.1.3 Registration Charges

1. Definition:
o A fee payable to the state government for registering property ownership
in the buyer’s name.
o Acts as legal proof of property ownership.
2. Calculation:
o Registration charges vary by state.
o Typically, it is 1% of the property's value or as per the state's guidelines.
(Maximum Rs. 30,000 for Maharashtra)

10.1.4 Stamp Duty

1. Definition:

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 o A tax levied by the state government on property transactions.
o It serves as evidence of the transaction and ensures its legality.
2. Rates:
oStamp duty rates differ by state and the type of property (e.g., residential
or commercial).
o Additional rebates may apply for women buyers in certain states.
3. Penalty for Non-Payment:
o If not paid, stamp duty may attract heavy fines, penalties, or disputes
regarding ownership.

10.2 Cost Sheet Sample and Component Details

A cost sheet is a detailed breakdown of the total cost of a property. It provides clarity to
buyers regarding various components of the price they are paying.

Key Components of a Cost Sheet:

1. Basic Sale Price (BSP):
o The base price of the property excluding additional charges.
2. Carpet Area Rate:
o The price per square foot of the carpet area (usable area).
3. PLC (Preferential Location Charges):
o Additional charges for units in preferred locations, such as corner units,
garden-facing units, or higher floors.
4. Parking Charges:
o Charges for allocated parking spaces, which may be mandatory in some
projects.
5. Clubhouse and Maintenance Charges:
o One-time or recurring charges for amenities like a clubhouse, swimming
pool, gym, and common area maintenance.
6. Taxes and Levies:
o Includes GST, stamp duty, and registration charges.
7. Legal and Documentation Fees:
o Fees for drafting and registering the sale agreement and other legal
documents.

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 Important Dates
1. 14h August 2014
o RERA Act was proposed by Dr. Girija Vyas.

2. 26th March 2016

o RERA Act was Published.

3. 1st May 2016

o Certain sections of the Real Estate (Regulation and Development) Act,
2016 (RERA) were notified.

4. 1st May 2017

o RERA became fully operational, and all State Governments were required
to implement the Act with their own Rules and Regulations.

5. 8th March 2017 (Notification No.23)

o Maharashtra Government established the Maharashtra Real Estate
Regulatory Authority (MahaRERA).

Key Notifications

1. Real Estate (Regulation and Development) Act, 2016

o Central Government's comprehensive legislation for regulating and
promoting the real estate sector.

2. Government Notification of RERA Commencement (26th April 2016)

o Official start of RERA operations.

3. Notification for MahaRERA Establishment (8th March 2017)

o Maharashtra's implementation of the Real Estate Regulatory Authority.

4. Rules and Regulations

o Maharashtra Real Estate (Registration of Projects, Registration of Agents,
Rates of Interest, and Disclosures on Website) Rules, 2017.
o Maharashtra Real Estate Regulatory Authority (Chairperson, Members,
Officers, and Other Employees Appointment and Service Conditions)
Rules, 2017.
o Maharashtra Real Estate (Recovery of Interest, Penalty, Compensation,
and Fine Payable) Rules, 2017.
o Maharashtra Real Estate Appellate Tribunal (Appointment and Service
Conditions) Rules, 2017.

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 o Maharashtra Real Estate Regulatory Authority (Annual Statement of
Accounts and Reports) Rules, 2017.

5. MahaRERA Regulations
o General Regulations (2017).
o Recruitment and Service Conditions of Employees (2017).
o Real Estate Appellate Tribunal Regulations (2019).

6. Important Forms
o Form G: Application for registration by real estate agents.
o Form H: Registration certificate for real estate agents.
o Form I: Intimation for rejection of application.
o Form J: Application for renewal of registration.
o Form K: Intimation for renewal approval.

Sections of RERA
Chapter I: Preliminary

1. Section 1: Title, extent, and commencement of the Act.

2. Section 2: Definitions of key terms used in the Act.

Chapter II: Registration of Real Estate Projects and Real Estate Agents

3. Section 3: Mandatory registration of real estate projects with the authority.

4. Section 4: Documents and information required for project registration.

5. Section 5: Granting of registration certificates to promoters.

6. Section 6: Extension of project registration validity.

7. Section 7: Revocation of project registration in case of violations.

8. Section 8: Completion of development projects by a competent authority.

9. Section G: Mandatory registration of real estate agents.

10. Section 10: Duties and responsibilities of registered real estate agents.

Chapter III: Functions and Duties of Promoter

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 11. Section 11: Obligations of the promoter regarding disclosures and updates.

12. Section 12: Liability of promoters for false advertisements.

13. Section 13: Restrictions on advance payments by allottees without an

agreement.

14. Section 14: Adherence to approved plans and consent for modifications.

15. Section 15: Obligations in case of transfer or assignment of promoter's rights.

16. Section 16: Insurance requirements for real estate projects.

17. Section 17: Transfer of title and execution of conveyance deeds.

18. Section 18: Promoter’s responsibility for compensation for delays or defects.

Chapter IV: Rights and Duties of Allottees

19. Section 1G: Rights and duties of allottees in real estate transactions.

Chapter V: The Real Estate Regulatory Authority

20. Section 20: Establishment of the Real Estate Regulatory Authority (RERA).

21. Section 21: Composition of RERA with chairperson and members.

22. Section 22: Term of office and conditions for RERA members.

23. Section 23: Qualifications for appointment as chairperson or member of RERA.

24. Section 24: Salary, allowances, and service conditions for RERA members.

25. Section 25: Removal of the chairperson or members of RERA.

26. Section 26: Restriction on employment post-RERA tenure.

27. Section 27: Officers and employees of RERA.

28. Section 28: Administrative powers of the chairperson.

29. Section 2G: Functions of RERA in regulating the real estate sector.

30. Section 30: Meetings and procedures for RERA operations.

31. Section 31: Filing complaints with RERA for violations.

32. Section 32: Promotion of a balanced real estate sector by RERA.

33. Section 33: Powers of RERA to call for information or investigate complaints.

P a g e | 40
 34. Section 34: Responsibilities of RERA in ensuring compliance.

35. Section 35: RERA's authority to conduct investigations.

36. Section 36: Power to issue interim orders.

37. Section 37: Power to issue directions to promoters, agents, or allottees.

38. Section 38: Powers to impose penalties and ensure enforcement.

39. Section 3G: Power to amend orders, regulations, or directions.

Chapter VI: Central Advisory Council

40. Section 40: Constitution and role of the Central Advisory Council.

41. Section 41: Functions of the Central Advisory Council.

42. Section 42: Advice on matters related to policy and implementation.

Chapter VII: The Real Estate Appellate Tribunal

43. Section 43: Establishment of the Real Estate Appellate Tribunal (REAT).

44. Section 44: Appeals to the Tribunal against RERA decisions.

45. Section 45: Composition of the Appellate Tribunal.

46. Section 46: Qualifications for Tribunal chairperson and members.

47. Section 47: Term of office and conditions for Tribunal members.

48. Section 48: Salary, allowances, and service conditions for Tribunal members.

49. Section 4G: Bar on post-employment for Tribunal members.

50. Section 50: Powers of the Tribunal regarding appeal hearings.

51. Section 51: Administrative and financial provisions for the Tribunal.

52. Section 52: Powers to punish for contempt.

53. Section 53: Procedures for Tribunal operations.

54. Section 54: Legal representation in Tribunal proceedings.

55. Section 55: Filing fees for appeals.

56. Section 56: Tribunal's powers equivalent to a civil court.

57. Section 57: Orders of the Tribunal binding on parties.

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 58. Section 58: Penalties for failing to comply with Tribunal orders.

Chapter VIII: Offences, Penalties, and Adjudication

59. Section 5G: Penalties for promoter violations.

60. Section 60: Penalty for false information by promoters.

61. Section 61: Penalty for promoter contraventions of the Act.

62. Section 62: Penalty for non-compliance by real estate agents.

63. Section 63: Penalty for contravening RERA orders.

64. Section 64: Penalty for contravening Tribunal orders.

65. Section 65: Penalty for failure to comply with regulations.

66. Section 66: Penalty for failure to maintain records or provide information.

67. Section 67: Adjudication mechanism for compensation claims.

68. Section 68: Liability for non-compliance with regulations.

69. Section 6G: Power of authority to enforce penalties.

70. Section 70: Adjudication of disputes between stakeholders.

71. Section 71: Appointment of adjudicating officers.

72. Section 72: Factors to be considered for determining compensation.

Chapter IX: Finance, Accounts, Audits, and Reports

73. Section 73: Grants and funds for RERA operations.

74. Section 74: Annual budget preparation for RERA.

75. Section 75: Maintenance of accounts and financial audits.

76. Section 76: Submission of annual reports by RERA.

Chapter X: Miscellaneous

77. Section 77: Bar on jurisdiction of civil courts for matters under RERA.

78. Section 78: Delegation of powers by RERA.

79. Section 7G: Protection for actions taken in good faith.

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80. Section 80: Rules for implementation of RERA.

81. Section 81: Power to make regulations.

82. Section 82: Powers of the Central Government to issue directions.

83. Section 83: Power to remove difficulties.

84. Section 84: Power to notify rules by State Governments.

85. Section 85: Constitution of the Central Advisory Council.

86. Section 86: Overriding effect of RERA over other laws.

87. Section 87: Protection of actions taken under RERA.

88. Section 88: Act not to derogate from other laws.

89. Section 8G: Act binding on all stakeholders.

90. Section G0: Penalties for obstructing RERA operations.

91. Section G1: Bar on jurisdiction of other authorities.

92. Section G2: Miscellaneous provisions and clarifications.

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