Pune: Developers across the State rushed to get their ongoing projects registered under Maharashtra Real Estate (Regulatory and Development) Act (RERA), the deadline for which ended at midnight on July 31.
However, according to Credai Maharashtra, the number of registrations would go up if the deadline is extended.
Gautam Chatterjee, Maharashtra Real Estate Regulatory Authority (RERA) Chairman said that till Monday afternoon, 7,100 projects were applied for and 6,700 agents applied for registration under RERA.
He said the exact number of projects that fall under RERA will be known on Tuesday, as the deadline was till midnight on July 31.
According to Shantilal Kataria, Credai Maharashtra, the applications submitted for mahaRERA registrations crossed 9,911 and may cross 10,000 by midnight.
However, he added that more registrations under RERA are possible. He said that Credai has urged the government and RERA authority to extend the deadline by at least one month. While listing the problems, he said developers from smaller towns were facing hurdles in online submission and online payment and problems in getting CA certificates in time.
Kataria added that more ongoing projects will come under RERA authority if time is extended. He urged the government to consider the issue sympathetically.
Home buyers in the State, who have invested their hard-earned money in ongoing projects, can now heave a sigh of relief, as these projects will be protected from cheating by developers.
Kiran Gitte, Pune Metropolitan Regional Development Authority (PMRDA) Chief said 353 projects in Pune region were registered with RERA. PMRDA had opened up a dedicated cell to help builders submit details of their projects online. He said that till the deadline, at least 70 more projects will be registered with RERA.
CREDAI Pune Metro estimated that many projects will be registered before the deadline. CREDAI announced that so far, more than 2,200 real estate projects in the State were registered with RERA, of which 862 are from Pune. CREDAI Pune Metro said that logins for more than 800 projects have been created.
Under RERA, developers will be penalised if they do not register their projects before the deadline. The State government introduced RERA on May 1 and gave a deadline till July 31 for builders to register their projects. The State government refused to extend the deadline, despite several pleas from builders.
Under RERA, a builder has to submit the entire construction plan and declare the timeline for possession of the apartments. RERA has several penal clauses that deal with failure to do so. The detailed information related to projects will be displayed online and this will help buyers invest wisely.
The developers initially opposed RERA, stating it is leading to delay in the process of procuring permissions.
