Saturday, 22 July 2017

Maha RERA allows builders to correct project docs from Sept

MahaRera announced the changes on Monday through a circular issued to encourage developers to speed up the registration of their projects with the authority


PUNE: Developers can from September 1 make revisions or corrections in their uploaded documents following MahaRera's permission and a fee of Rs 5,000 for every change.

MahaRera announced the changes on Monday through a circular issued to encourage developers to speed up the registration of their projects with the authority.

The new circular comes a relief for the developers, who had repeatedly said that they should be allowed to correct the documents uploaded and cleared by MahaRERA. The earlier rules did not allow them to make any such revisions and corrections.

With MahaRERA estimating that there are over 10,000 ongoing projects in the state, there was less than 5% registration by developers till July 15.

"Till Wednesday, we saw 898 developers registering with us. We hope that the registration with MahaRERA for the ongoing projects will speed up after the new circular," MahaRERA secretary Vasant Prabhu said.

He added that with every revision or correction, they would have to pay a fine as stated in the circular put up on the website. Besides the correction clause, the circular also mentions project detail updates within three months from registration.

Credai Maharashtra president Shantilal Kataria said the new circular would encourage the developers to upload their documents sooner. "In the last two days, more than 400 projects have been registered. We are urging all developers to register with MahaRERA as soon as possible," he said.

A developer, who did not want to be named, said the scope to make revisions or corrections was a long-pending demand of the developers. 'They should have done it a month ago. It would have made the builders feel confident to register their projects earlier," he said.