PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a clarification over its circular as requested by Confederation of Real Estate Developers Association of India (CREDAI)-Pune Metro. To the relief of home buyers and developers alike, the MahaRERA has excluded all real estate projects from getting registered under it if the promoter has received Completion Certificate (CC) or Occupancy Certificate (OC) from a competent authority, any time before the agreement for sale or sale deed registration. The same rule is applied in the case of plotted development where the land has received N/A certificate.
Recently, CREDAI had written to MahaRERA and IGR (Inspector General of Registration & Collector of Stamps) regarding the latest circular from the Revenue and Forest Department dated September 20, which had made it compulsory for all housing projects to register with RERA that had procured a Completion Certificate (CC) or Occupancy Certificate (OC) prior to the implementation of the Act.
CREDAI-Pune Metro issued a press release stating that, “RERA has also exempted projects with land area less than or equal to 500 sq metres and less than or equal to eight units from registration and also the redevelopment projects which do not involve marketing, advertising, selling or new allotment of any apartment or building where the promoter executes Permanent Alternative Accommodation Agreement with the existing tenants or the members of society. RERA has also excluded projects, which it has already decided through the ruling, do not require registration.”
The authority in its circular has also stated that there are real estate projects registered with MahaRERA and are complete as per Real Estate (Regulation and Development) Act 2016 and rules and regulations and have received OC and CC. For such projects, in case, if the MahaRERA Registration duration has ended, then they do not need to extend the registration for sale of apartments or plots.
Suhas Merchant, President, CREDAI Pune-Metro, said, “We had written to the IGR and MahaRERA for amending its new guidelines. We want to help mitigate the difficulties of genuine developers and home buyers at large as there must be many people who would want to buy homes during the upcoming festival season. We have requested the IGR to instruct all sub-registrars in the state to commence the registration processes which are on hold.”
When contacted, the officials from IGR refused to comment.