RERA Procedures for Project Registration in Maharashtra: A Comprehensive Guide
REAL ESTATE
The Real Estate (Regulation and Development) Act, 2016 (RERA), was introduced to ensure transparency, accountability, and efficiency in the real estate sector. It aims to protect the interests of homebuyers and create a more organized and structured environment for developers and promoters. In Maharashtra, the state government established its own regulatory framework under RERA to manage real estate projects, ensuring that builders and developers adhere to legal standards and deliver promised properties to buyers. This article explores the procedures for registering real estate projects under RERA in Maharashtra, along with key aspects developers must keep in mind during the registration process.
1. Overview of RERA and Its Importance
The Real Estate (Regulation and Development) Act was introduced to:
Ensure transparency in the sale of real estate projects.
Establish a regulator for the real estate sector.
Set up a dispute resolution mechanism for buyers and builders.
Ensure timely delivery of residential projects.
Maintain quality standards in construction and project execution.
In Maharashtra, the Maharashtra Real Estate Regulatory Authority (MahaRERA) was established to enforce the provisions of the RERA Act. MahaRERA regulates both residential and commercial real estate projects in the state, ensuring that developers are held accountable for the timely completion of projects, quality of construction, and delivery of properties to buyers.
2. Who Needs to Register Under RERA?
Under RERA, every real estate project that is:
More than 500 square meters in land area.
Involves the development of eight or more apartments.
requires registration with the respective state RERA authority. In Maharashtra, this is done through MahaRERA.
However, certain projects, such as ongoing projects where the completion certificate (CC) or occupancy certificate (OC) has been issued, do not need registration. Additionally, some residential projects involving the sale of individual plots and redevelopment projects may be exempt.
3. Key Documents Required for RERA Registration
Before beginning the registration process, developers need to ensure they have the following documents in place:
a. Project Details
Title Deed: Proof of ownership of the land on which the project is being developed.
Land Use Certificate: The land should be authorized for real estate development under the local zoning laws.
Approvals and NOCs: Clearances from local municipal bodies, pollution control boards, and any other necessary statutory approvals.
Sanctioned Building Plan: Approval from the municipal corporation or relevant authorities.
Environmental Clearance (if applicable): Necessary clearances for certain types of projects.
b. Developer Details
Personal Identification: A valid government ID proof of the developer or promoter.
Partnership or Company Registration: If the developer is a company, the certificate of incorporation; if a partnership, the partnership deed.
PAN Card: A valid Permanent Account Number of the promoter or developer.
Audited Financial Statements: Documents such as balance sheets, income statements, etc., that verify the financial capacity of the developer.
c. Project Information
Project Layout and Master Plan: The blueprint of the project, including the number of floors, buildings, and types of apartments.
Completion and Possession Dates: The timelines within which the developer commits to completing and handing over the project.
List of Units: The number of units being developed, categorized by type (e.g., 1BHK, 2BHK, etc.).
Details of the RERA Authority: Including the MahaRERA registration number (once obtained).
4. Steps for Project Registration Under RERA in Maharashtra
Once the developer has all the required documents, they can proceed with the registration process under RERA. Below is a step-by-step guide to the registration procedure:
Step 1: Visit the MahaRERA Portal
The first step is to access the official MahaRERA portal. Developers can visit the portal at www.maharerait.mahaonline.gov.in, which is the online platform for all RERA registrations and filings in Maharashtra.
Step 2: Create an Account
To begin, developers must create an account on the MahaRERA portal. They will need to provide basic personal details such as:
Name
Email address
Phone number
Password for the account
Once the account is created, a confirmation email or SMS will be sent for account verification.
Step 3: Login to the Developer’s Dashboard
After the account is successfully verified, the developer must log in to the portal using the registered email and password.
Step 4: Fill Out the Project Registration Form
Once logged in, the developer should navigate to the "Project Registration" section and fill out the required information. The form asks for the following details:
Project Name: The name of the project as approved by local authorities.
Location: The precise location of the project, including the address and plot number.
Promoter/Developer Details: Information about the developer or promoter, including the legal name of the company, contact details, and financials.
Type of Development: Whether it’s a residential or commercial project.
Completion Date: The expected completion and possession dates.
Details of the Land: Information about the size of the land and its legal ownership.
Step 5: Upload Required Documents
Developers must upload all necessary documents mentioned earlier. These documents should be in the prescribed format and size.
The portal allows for the uploading of:
Title deed of the land
Approvals and NOCs
Building plans
Financial statements
Any other supporting documents
Step 6: Pay Registration Fees
The registration fee must be paid online through the MahaRERA portal. The fee varies based on the size of the project and the number of apartments. The fee can be paid using various online payment methods such as debit/credit cards, net banking, or UPI.
Step 7: Submission and Acknowledgment
Once the form is completed and the payment is made, the developer must submit the registration application. After submission, the developer will receive an acknowledgment number, which can be used for tracking the status of the application.
Step 8: MahaRERA Review and Approval
After submission, the MahaRERA authority will review the application, verify the documents, and assess whether the project complies with RERA requirements. If everything is in order, MahaRERA will grant registration to the project.
In case any issues or discrepancies are found, the authority will communicate with the developer and seek clarifications. Upon successful registration, the project will be assigned a unique RERA registration number.
5. Validity and Renewal of RERA Registration
The RERA registration of a project is valid for the period mentioned in the registration certificate, which typically corresponds to the project’s completion date. However, if the project cannot be completed within the specified time, the developer must apply for an extension of the registration.
The extension process involves:
Submitting a request for an extension through the MahaRERA portal.
Providing updated reasons for the delay and a revised project timeline.
Paying any additional fees, if required.
6. Responsibilities and Obligations of Developers Post-Registration
After the project is registered, developers must adhere to the following obligations:
Advertising Compliance: The developer must ensure that all advertisements for the project mention the RERA registration number.
Project Updates: Developers are required to update the MahaRERA portal with any changes in the project details, such as modifications in the building plan or possession dates.
Timely Delivery: Developers must deliver possession to buyers within the agreed time frame.
Financial Disclosures: Developers must maintain transparency in financial dealings, including providing an annual financial statement to MahaRERA.
7. Penalties for Non-Compliance
If developers fail to comply with the provisions of RERA, they can be subjected to penalties, including:
Monetary Fines: Non-compliance may attract fines ranging from ₹10,000 to ₹10,00,000.
Jail Time: In extreme cases, developers may face imprisonment for up to three years.
8. Conclusion
Registering a real estate project under RERA in Maharashtra is a structured process designed to ensure that developers maintain transparency and deliver projects in a timely and efficient manner. By adhering to the registration procedures and complying with RERA’s provisions, developers can build trust with homebuyers and create a more regulated real estate market. For homebuyers, the registration process ensures greater security and legal recourse in case of delays or other issues with the project.
For developers, understanding the legal framework, documentation requirements, and obligations under RERA is essential for smooth project execution and to avoid penalties or disputes down the line.