RERA Act Maharashtra

The Maharashtra government instigated the Real Estate Act (Regulation & Development) on 1 May 2017. The administration then established something called the Maha RERA (Maharashtra Real Estate Regulatory Authority) on 8 March 2017, with the headquarters held at Mumbai. Under this act, there was a better transparency in the real estate industry of Maharashtra.

The chairman of the Maha-RERA is Gautam Chatterjee. He worked as an IAS officer and belonged to the 1982 batch but is retired now. Besides having served as a responsible IAS officer, he was also the Chief Secretary of the Maharashtra Government.

  • The DRA (Dharavi Redevelopment Authority)
  • The MHADA (Maharashtra Housing & Area Development Authority), and
  • The SRA (Slum Rehabilitation Authority)

The office address of the RERA Maharashtra is:

III Floor, Wing-A,??Administrative Building,
Slum Rehabilitation Authority,
Anant Kanekar Marg, Bandra East,
Mumbai ??? 400051

Phone: 022-26590028/ 26590030/ 26590029

Important Objectives Of RERA Act Maharashtra

The main objectives of the RERA Act in the state of Maharashtra are:

  • It infuses efficiency and transparency in the real estate business.
  • There is a clear information regarding the plot sale, project, apartment, building, etc.
  • It establishes a mechanism for a quick redress of a dispute.
  • It protects the customers??? interests in the field of real estate.
  • It establishes the concept of Appellate Tribunal so that any misconduct can be filed for complaint by the buyer.

Which Places Of Maharashtra Does The RERA Apply?

Ans ????? All District of Maharashtra

The places in which the Maha RERA is applicable are:

How To Register For RERA Maharashtra?

The registration process for the Maha-RERA is simple. Here is a step-by-step guide to complete the entire procedure.

  • Step 1: Go to the official website of Maha RERA:
  • Step 2: Click on the menu ???Online Application,??? which will redirect to the login page.
  • Step 3: Click on the link option ???New Registration??? to register as a new user.
  • Step 4: A new page opens in which the ???User Type??? has to be selected.
  • Step 5: It shows 3 radio buttons: ???Promoter, Real Estate Agent, and Complainant.???
  • Step 6: Choose the appropriate user type.
  • Step 7: Next, select the necessary ???State or Union Territory??? from the drop-down menu.
  • Step 8: Enter the username, password, mobile number, and email address.
  • Step 9: Type the captcha and click the button ???Create User.???
  • Step 10: A verification link is then sent to the website to the registered email id for activation.
  • Step 11: Upon clicking the link, the account is successfully created and activated.
  • Step 12: Login using the registered Username & Password.
  • Step 13: Fill all the necessary details the website prompts and upload all the mandatory documents.

Mandatory Documents For RERA Act Maharashtra

Once the applicant registers himself or herself on the official Maha RERA website, a few documents have to be submitted. The documentation is divided into two categories:

  • Project registration
  • Agent registration

Documents Required For A Project Registration under Maharashtra RERA

To register any ongoing project with the Maharashtra RERA, an applicant has to submit the following documents:

Basic Documents

  • A copy of the promoter???s PAN card.
  • Name, address, contact number, and a photograph of the promoter (in the case of an individual).
  • Names, contact numbers, addresses, and photographs of the promoters ??? partners, chairman, and directors (in the case of entities).
  • A copy of the authorized report regarding the promoter/owner???s title flow to the property in which the development has been proposed. Note that this document has to be authenticated by a practicing advocate.
  • If the promoter isn???t the actual owner of the land/property where the project has been proposed, then a copy of the development agreement, collaboration agreement, and joint agreement on the development or any other paperwork that reflects the title of the owner and the proposed project has to be submitted.
  • The details associated with the project???s encumbrances and the information on the further proceedings.

Documents Stating All The Plans

  • A copy of the approved plan where the proposed real estate project is to be done.
  • A copy of documents associated with the TDR (Transferable Development Rights) or FSI (Floor Space Index) and other necessary entitlements that are relevant to the Development Control Regulations.
  • A copy of the documents relating to the common facilities and amenities with the approved plan.
  • A copy of the proposed layout, the proposed plan of the entire project, and the FSI that will be consumed by the planned project.
  • A copy of the proposed FSI and the approved FSI. If the planned FSI is different from what has been sanctioned, then the details have to be disclosed during the registration period.
  • A copy of the proposed wing(s) or building(s) and the sanctioned wing(s) or building(s) for the project. If there are any differences between the two, then the necessary details have to be disclosed during the registration time.
  • A copy of the proposed number of floors for each wing or building and a copy of the number of floors that are approved for each wing or building. Any changes between the two have to be reported at the time of registration. Further changes have to be updated frequently by the promoter.
  • A copy of the total area in square meters.
  • A copy of the parking space layout.

Other Necessary Documents

Individual copies of the details relating to:

  • The Architecture & Design standards.
  • The construction technology that is to be used.
  • The measures that are taken for resisting earthquake.
  • The adopted facilities and amenities.

Note:?? The details given above are in accordance with the RERA norms, which are proposed by the State Government of Maharashtra. Hence, the required paperwork might differ from one state to the other.

Documents Required For An Agent Registration under Maharashtra RERA

To register as a new agent with the Maharashtra RERA, an applicant has to submit the following documents:

  • A copy of the details of the enterprise, which will include the applicant???s name, place of business, registered address, enterprise type, enterprise registration number, DIN (Director Identification Number), PAN, and Aadahar card number.
  • A copy of details as to when the registration was obtained, an authorized copy of partnership agreement, the articles of association, and the memorandum of association.
  • A copy of the recently-taken photographs of the agent. If the applicant is an entity, then copies of recent photographs of the partners, trustees, directors, chairman, etc.
  • A copy of the IT (Income Tax) returns for the last three years.
  • A copy of the address of the business place and branch offices.
  • A copy of the contact details that includes fax numbers, email address, and telephone numbers.
  • A copy of the projects the applicant (or agent) was involved in the last 5 years.
  • A copy of any criminal or civil cases that are pending against the individual or the entity.
  • A copy of the letterhead, acknowledgment receipts, and rubber stamp pictures that the agent uses.

Note:?? The details given above are based on the current RERA norms set by the State Government of Maharashtra. Hence, the required paperwork for an agent might change from one state to the other.

The Maharashtra RERA Fee

The fee associated with the Maharashtra RERA is categorized into two types:

  • Builder/developer
  • Agent

The above categories comprise of a few more sub-fee structures, which are listed below in detail:

Fee For A Real Estate Builder/Developer

The fee structures of a real estate builder or developer include the following:

  • Fee For Project Registration: To legally conduct a business in the real estate industry, a builder/developer has to pay a registration fee for a project to the Maharashtra RERA authority. The payment mode can be either an RTGS or NEFT transaction. The registration fee is Rs.10 for each A project can have a registration fee of minimum Rs.50,000 and maximum Rs.10,00,000.
  • Fee For Project???s Time Extension: A builder/developer has the rights to apply for a time extension if he or she feels that the project may not be completed by the mentioned due date. However, this will also have a charge. The fee is Rs.10 for each, which is subject to a minimum of Rs.50,000 and a maximum of Rs.10,000,00 for a project. The payment mode can be either an RTGS or NEFT transaction.
  • Fee For Withdrawing The Project: A promoter can withdraw a real estate project but it has to be 30 days before the expiry date of the submission date the authority has provided. The charges for this will be same as the fee paid during the time of registration. Once the application is processed, the amount will be refunded to the promoter in a short time.

Fee For A Real Estate Agent

The fee structure for a real estate agent include the following:

  • Fee For The Registration: A real estate agent or a realtor has to pay the registration fee at the time of initial application submission. The payment mode is either an RTGS or NTFS transaction, where the agent has to pay Rs. 10,000 (if the applicant is an individual) or Rs.1,00,000 (if the applicant is a group of members or an entity).
  • Fee For The Renewal: Under the section 9, a realtor or estate agent can apply for the renewal at least 60 days before the registration expires. The applicant has to fill the ???Form J,??? which is then followed by a payment of Rs.10,000 (if the app
  • licant is an individual) or Rs.1,00,000 (if the applicant is a group of members or an entity).

Note:?? The details given above are as per the RERA norms set by the state government of Maharashtra. Hence, the fee structure may differ from one state to the other.

GST Rate of 18% Applicable for All Financial Services Effective July 1, 2017.