CREDAI-Pune Metro seeks exemption for pre-RERA properties
For the housing projects that had procured Completion Certificate or Occupancy Certificate prior to implementation of Real Estate Regulatory Authority (RERA) Act, the RERA registration was not mandatory until now.
PUNE: For the housing projects that had procured Completion Certificate or Occupancy Certificate prior to implementation of Real Estate Regulatory Authority (RERA) Act, the RERA registration was not mandatory until now.
However, the latest circular from the Revenue & Forest Department dated September 20 has made it compulsory and has notified that no agreement for sale for any property would be registered without it.
Due to this new notification, a lot of confusion was caused to home-buyers as the Sub Registrar Offices were refusing to register the documents.
Thus, the Confederation of Real Estate Developers Associations of India (CREDAI-Pune Metro) has sought clarifications from Maharashtra State Inspector General of Registration & Collector of Stamps Anil Kawde and MahaRERA Chairperson Gautam Chatterjee over the same.
Accordingly, CREDAI-Pune Metro has asked for exemption of the projects that have received completion certificate/ occupancy certificate prior to RERA coming into force in Maharashtra and also exemption from RERA registration of projects with land area less than 500 sq mtrs and less than 8 units.
It also wants the projects that have received completion certificate/occupancy certificate and have now executed agreement to sale to be exempted and also relieve the plotting development projects where final N/A certificate or final approval is given to the layout by Authority prior to implementation of RERA.
It also asked for resale of flats or apartments or plots wherein the developer was not a party in the document to be exempted.
“They have some issues with the notification and recently they came with their issues. We asked them to submit it to us, so that we can take it forward to the concerned people,” said sources from Office of the Inspector General of Registration & Controller of Stamps.