The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently issued Order no. 50/2024 dated 10 January 2024, mandating a significant change in the registration process for real estate projects. Effective immediately, promoters are required to obtain a single registration number for each standalone project.
This measure aims to address instances where promoters secured multiple MahaRERA registration numbers for the same project or its components.
Why the Change: To curb the misuse of the registration system, MahaRERA has introduced this directive to ensure transparency and prevent the issuance of duplicate registration numbers.
Key Directions Issued by MahaRERA:
1. Declaration-cum-Undertaking:
- Promoters seeking new registration must submit a declaration-cum-undertaking on their official letterhead.
- The document should confirm that neither the proposed project site nor any of its parts holds a MahaRERA registration number, and there is no pending application.
- Upload the Declaration-cum-Undertaking on the promoter’s letterhead in the specified format available on the MahaRERA website.
- Include project particulars such as CS number, CTS number, final plot number, survey number, Hissa number, GaT number, Khasra number, village number, taluka, and district, among others.
2. Project on Large Plots:
- For projects on large plots, a separate registration number for the entire project or its phases can be obtained.
- Any reservations on the plot as declared by the government and local planning authority cannot be changed without formalities prescribed by the authorities.
- This includes obtaining legal consent from the allottees, and any changes require compliance with prescribed procedures.
3. Consequences of Misinformation:
- In the case of inaccuracies, misinformation, or deception in the provided details, MahaRERA will take appropriate action against the concerned promoter.
- The directive extends to both standalone and multi-phased housing projects situated on extensive plots.
Conclusion
- MahaRERA’s decision to mandate a single registration number for each standalone project is a significant step towards ensuring the integrity and transparency of the real estate registration process.
- Promoters must adhere to the new guidelines and submit accurate information to avoid any adverse actions by the regulatory authority.
- This move is expected to streamline the registration process and protect the interests of homebuyers and stakeholders in the real estate sector.
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