MAHARERA

MAHARERA

INTRODUCTION

 What are the objects and reasons for which the Real Estate (Regulation and
Development) Act 2016 has been framed?

The Real Estate Act is intended to achieve the following objectives:

• Buyers will get what they pay for in terms of RERA carpet area
• All the project details and progress reports will be made available to the buyers on
RERA websites
• Projects will not run out of funds as the builders will not be allowed to move funds
from one project
• introduce professionalism and pan India standardization
• Advertising and promotional materials will not contain any misleading information
• establish fast- track dispute resolution mechanism
• promote good governance
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 CRITERIA FOR REGISTERING A REAL ESTATE

PROJECT:
• Every real estate project which has land area more than 500 sqmts or has more than
8 apartments needs to be registered

• No. The advertisement issued after 1st May 2017 must carry the MahaRERA
Registration Number of the project.

• In case of Real Estate Agent, he need to be registered on the MAHARERA website

and the details should be uploaded in the project where he wish to close the deal as
an agent.

• It is mandatory that the advertisement for marketing of apartments in the real estate
project must carry the MahaRERA registration number
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 DEFINATION OF RERA CARPET AREA
 Rera Carpet
Area:-
 excluding outer
wall

 Other areas
exclusively
used by the
buyer :-

 Balconies and
veandas

 Open terraces
and service
area
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HIGHLIGHTS OF TODAY’S PRESENTATION

1)Registration Process
2) Compliances
3) Points from the Allottees Perspective
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Create user account on MahaRERA Website
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login into the account to provide details in Form A

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Following documents are required to be submitted by

promoter at the time of registration of real estate project

Form A Available online -

Create user account on MahaRERA Website and login into the account to provide
details in Form A.
Form B-Declaration in form B (See rule 3(6) of MahaRERA)
PAN card -Provide PAN Card of the promoter.
Legal title report -
Upload legal title report in Format A as specified in the circular no. 28/2021.
Details of legal and finance Encumbrance -
Provide the details of both legal and financial encumbrances on letterhead of promoter
with signature and stamp. . (See rule 3(6) of MahaRERA)
Copy of Layout Approval (in case of layout)-
Provide a legible copy of sanctioned layout approval plan. (See rule 3(6) of MahaRERA)
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 Building Plan Approval / NA Order for plotted development-Provide a scanned
legible copy of sanctioned Building approval plan. (See rule 3(6) of MahaRERA)
 Commencement Certificates / NA Order for plotted development-Provide the
Commencement Certificate issued by the competent Authority. (See rule 3(6) of
MahaRERA)
 Declaration about Commencement Certificate-Provide declaration about
commencement certificate in Format-D as specified. circular no 32/2021.
 CERSAI - Provide the latest CERSAI report obtained from the CERSAI website. The
CERSAI report should be generated within 10 days before the date of application.
Incase no security interest has been created then the Promoter shall give provide an
undertaking confirming the same. Refer order no. 26/2021
 CA Certificate on Project Cost & Fund withdrawal (Form 3)-
Upload CA Certificate Form 3 as specified in the standard format. Make sure the
certificate is signed by CA and promoter both.
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 Proforma of the allotment letter – Upload model copy of allotment letter as
specified. In case promoter opts to execute allotment letter that is not in accordance
with the specified format, then the Promoter shall highlight deviations/modifications in
the allotment letter and upload the same along with the deviation sheet.

 Proforma of agreement for sale- Upload model copy of agreement for sale as
specified in the annexure A of the Rule 10 and MahaRERA General (Amendment)
Regulations 2017 of the Rules. In case promoter choose to execute Agreement for
sale that is not in accordance with the specified format, then the Promoter shall
highlight deviations/modifications in the agreement for sale and upload the same
along with deviation sheet
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 Deviation Report with respect to model copy of Agreement Allotment letter-

Upload deviation report with respect to the model copy of Allotment letter

 Deviation Report with respect to agreement for sale-

Upload a deviation report with respect to the model copy of agreement for sale.

 Separate Bank Account details including no encumbrances on the Bank Account

or no escrow on the same-
Every promoter at the time of registration of a real estate project in addition to providing
the bank details of the separate bank account in the application for registration shall
also provide a Declaration about the separate bank account for the real estate project
on the Letterhead of the promoter in the manner as prescribed detailed in Format 'A' as
specified

 Building Plan Approval / NA Order for plotted development-

Provide a scanned legible copy of sanctioned Building approval plan.
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COMPLIANCES
Following are the list of Forms provided under the Regulations pertaining to
compliances required under Section 4(2)(l)(D):
•Form 1 - Architect's Certificate, to be obtained for the purpose of registration, withdrawal of
money or SBA, quarterly update.

•Form 2 - Engineer's Certificate, to be obtained for the purpose of registration, withdrawal of

money or SBA, quarterly update.

•Form 2 A-Engineer’s Certificate for Quality Assurance

•Form 3 - Chartered Accountant Certificate, to be obtained for the purpose of registration,

withdrawal of money or SBA, quarterly update.

•Form 4 - Architect's Certificate to be obtained on completion of each building/ wing/ project.

•Form 5 - Annual Report on Statement of Accounts to be obtained from a Chartered

Accountant who is a Statutory Auditor of the Promoter.
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 QUARTERLY UPDATES

• Under Section 11 of the Act, it is the duty of the promoter to quarterly up-to-date:
• The list of number and types of apartments or plots, as the case may be, booked;
quarterly up-to-date the list of number of garages booked
• Quarterly up-to-date the list of approvals taken and the approvals which are pending
subsequent to commencement certificate
• Quarterly up-to-date status of the project and such other information and documents
as may be specified by the regulations made by the Authority.

• On failure to quarterly update the project under the provisions of the act, the
promoter shall be liable to a penalty which may extend up to 5% of the
estimated cost of the real estate project as determined by the Authority.
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SECTIONS
3. The Promoter shall not advertise, market, book, sell or offer for sale or invite persons
to purchase in any manner any plot, apartment or building, unless he registers the
project.
4. Application has to be made for Registration of the Project on the RERA website by
inserting range of details relating to the Promoter, Project, Approvals etc.
6. This Section permits the authority to grant extension of registration of a project to
the Promoter under reasonable circumstances where there is no default on the part
of the Promoter, for a period not exceeding one year.
Post that even if the project is not getting completed inspite of obtaining extension for
ONE year he needs to get the consent from 51% of Allottees who have booked the flats.
7-8. Revocation of Registration in the event if the Promoter makes any default
under the Act, violates any of the terms of Approvals, involves into unfair trade
practices, indulges in any fraudulent activities. In this case a) the Promoter will be
debarred from accessing the website and added in list of defaulters, b) Competent
Authority or Allottees will take up the development, c) Bank accounts will be
freezed.
9-10. Registration of Real Estate Agents and Functions of Real Estate Agents
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 11. Specifically provides for the Functions and duties of the promoters. These duties
are mandatory in nature. It is important for the promoters to submit the details
on quarterly basis within the due date as provided in the Rules.
a) Quarterly updation on RERA website
b) Advertisement shall mention website address of Authority and QR code, RERA
Registration number.
c) Make available all the details and documents, approvals, plans to the Allottees .
d) stage-wise time completion schedule of the Project.
e) Defect liability - 5 years
f) Obtain Completion certificate/OC
g) Providing and maintaining the Project till conveyance to Society/Apex Body
h) Society formation- within 3 months from the date on which 51% of the total no of
Allottees have booked their flats in the building.
i) Conveyance of land and common areas in favour of the Society/Apex Body as the
case may be.
j) Payment of all outgoings till conveyance of land/common areas to Society/apex body.
k) Not to mortgage or create a charge after execution of Agreement for Sale for flat/s.
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 12. In the event if the Allottes makes an advance basis the advertisement, model
flat/building structure and suffers any loss, damage due to incorrect/false
statement contained therein, then, he shall be compensated by the Promoter.
(Refund of advance plus Interest thereon plus compensation)
 13. No deposit or advance to be taken more than 10% of the consideration value by
promoter without first entering into agreement for sale.
 14. Adherence to sanctioned plans –
a) Minor changes due to architectural and structural changes authorized by
Architect/Engineer are allowed after proper declaration and intimation to the Allottee
eg. Change in height, addition to area, change in partition, column, beam etc. as
more particularly mentioned in sec 14
b) Changes in sanctioned plans, common areas, specifications of the buildings will
need 2/3rd consent of the Allottees
c) Defect liability for 5 years- includes i) Structural defect, ii) defect in workmanship (eg.
Inferior materials, not following Industry standards, improper installations, not
meeting with tests, electric works/plumbing iii) quality or provision of services (lifts,
STP, water tanks, brands) iv) any other obligations under Agreement for Sale.
(Suggestion-Indemnity clause, B.G for 6 years is strongly suggested to
safeguard our interest)
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15. The Promoter shall not transfer or assign his majority rights in the Project to third
party without obtaining a) 2/3rd consent of the Allottees, 2) prior written approval of
the Authority.

16. Promoter shall obtain a) Insurance of Title, b) Insurance of construction of

Real Estate Project

17. Execution and registration of Conveyance deed in favor of the Society/Apex body,
as the case may be, shall be carried out by the Promoter a) in case of standalone
building within 3 months from date of issue of Occupancy certificate, b) in case of Layout-
within 3 months from date of issue of occupancy certificate to the last Real Estate Project
in the Layout.
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18. 1. Under Section 18 of the RERA, if the promoter fails to complete or is unable
to give possession of the apartment, plot or building as per the terms of the agreement
for sale or due to discontinuance of his business,
a)Intends to withdraw:- the Allottee if in case wishes to withdraw from the project is
entitled to claim a refund of the amount paid along with interest plus
compensation,
b)Does not intend to withdraw:- if the Allottee does not wish to withdraw then the
Promoter has to pay interest for every month of delay till handing over of the
possession.
18.2. Promoter is liable to pay compensation due to loss caused to the Allottees due to
defective title of the land. This is not barred by law of limitation.
18.3. Promoter is liable to pay compensation for failure to comply with any obligations
under RERA and terms of Agreement for Sale.
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Rights of the Allottees as per section 19 of the act

The Allottee shall be entitled to obtain the information relating to sanctioned plans,
layout plans along with the specifications, approved by the competent authority and such
other information as provided in this Act or the rules and regulations made thereunder or
the agreement for sale signed with the promoter.
The Allottee shall be entitled to know stage-wise time schedule of completion of the
project, including the provisions for water, sanitation, electricity and other amenities
and services as agreed to between the promoter and the Allottee in accordance with the
terms and conditions of the agreement for sale.
The Allottee shall be entitled to claim the possession of apartment, plot, or building,
as the case may be, and the association of Allottees shall be entitled to claim the
possession of the common areas, as per the declaration given by the promoter under sub-
clause (C) of clause (l) of sub-section (2) of section 4.
The Allottee shall be entitled to claim the refund of amount paid along with interest at
such rate as may be prescribed and compensation in the manner as provided under this
Act, from the promoter, if the promoter fails to comply or is unable to give possession
of the apartment, plot or building, as the case may be, in accordance with the terms of
agreement for sale or due to discontinuance of his business as a developer on account of
suspension or revocation of his registration under the provisions of this Act or the rules or
regulations made thereunder.
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 The Allottee shall be entitled to have the necessary documents and plans, including
that of common areas, after handing over the physical possession of the apartment or
plot or building as the case may be, by the promoter.
 Every Allottee, who has entered into an agreement for sale to take an apartment, plot or
building as the case may be, under section 13, shall be responsible to make
necessary payments in the manner and within the time as specified in the said
agreement for sale and shall pay at the proper time and place, the share of the
registration charges, municipal taxes, water and electricity charges, maintenance
charges, ground rent, and other charges, if any.
 The Allottee shall be liable to pay interest, at the rate of MCLR plus 2%, for any delay in
payment towards any amount or charges under the Agreement.
 Every Allottee of the apartment, plot or building as the case may be, shall participate
towards the formation of an association or society or cooperative society of the
Allottees , or a federation of the same.
 Every Allottee shall take physical possession of the apartment, plot or building as
the case may be, within a period of two months of the occupancy certificate issued for
the said apartment, plot or building, as the case may be.
 Every Allottee shall participate towards registration of the conveyance deed of the
apartment, plot, or building, as the case may be, as provided under sub-section (1) of
section 17 of this Act.
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 Is it permissible to sell parking to allottees:

• Open Parking Area: This has been clearly included in the definition of "Common Areas"
which need to be conveyed to the Association of Allottees after Occupancy Certificate is
received. Hence, sale or allotment of Open Parking Areas by the Promoter is not
permissible

• Covered Parking as defined in the Maharashtra Real Estate (Regulation and

Development)(Registration of Real Estate Projects, Registration of Real Estate Agents,
Rates of Interest and Disclosures on Website) Rules, 2017 is permitted to be sold.

• Garage as defined in the Act is permitted to be sold.

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STATISTICS
REGISTRATION IN MAHARASHTRA
Applications
Received
Applicant Type Registration Granted Completed Projects as
per Form 4
Promoter 45132 43644 13612
Agent 47937 46229 0
Total 93069 89873 13612

Registration in Daman & Diu and Dadra Nagar Haveli

Applications
Applicant Type Received Registration Granted Completed Projects as
per Form 4
Promoter 212 207 49
Agent 2 2 0
Total 214 209 49
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COMPLAINT REGISTRATION AND REDRESSAL

A Complaints against Orders passed against Total orders passed
Total complaints registered projects registered projects
received
22651 15004
B Complaints against un- Orders passed against
23608 registered projects un-registered projects 15891

957 887

MAHARERA CONCILIATION FORUM

Conciliation in Process Conciliation Completed

Conciliation received with
consent from both parties

1228 196 1034

THANK YOU