From September 1,
information on all these registered projects will be available on the MahaRERA
portal
MUMBAI: The
Maharashtra Real Estate RegulatoryAuthority (MahaRERA) is planning to take
strict action against realty developers whose ongoing projects would remain
unregistered even after September 1, said a top official of the regulator.
“We have received
12,700 applications for registration of ongoing projects. Out of these, we have
already processed and registered 8,000 projects. Remaining applications will be
processed over the next one week,” said MahaRERA chairperson Gautam Chatterjee.
“We will deal with those (project developers) required to be registered but not
registered until September 1 in a strict manner.”
From September 1,
information on all these registered projects will be available on the MahaRERA
portal. Following this, homebuyers can send emails about ongoing projects,
which are required to be registered but have not registered so far, directly to
the regulator, he said on the sidelines of a FICCI- Grant Thornton Advisory
conference here.
So far, the regulator
has received total 30 complaints from homebuyers of ongoing projects and most
of them are related to the issue of delay in delivery.
MahaRERA has already
taken a decision to slap a minimum penalty of Rs 1 lakh or an amount equivalent
of its registration fees, whichever is higher, for ongoing projects
registration applications to be received between August 3 and August 16.
The project
registration fee ranges from minimum of Rs 50,000 to Rs 10 lakh depending on
the size of the specific project.
This quantum of
penalty was applicable for all applications received in the office of MahaRERA
until 5pm of 16 August. Applications made for registration of ongoing projects
after August 16 will be heard on case-to-case basis and the penalty will be
decided by the authority. The builder then will have to explain as to why the
application cannot be rejected.
The government
enacted the Real Estate (Regulation & Development) Act 2016 and all the
sections of the Act have come into force with effect from May 1 this year.
Maharashtra was one of the first states to notify its rules under the Act and
establish authority MahaRERA.
The builders had to
register their ongoing projects with their respective state RERAs within three
months and deadline for the same was set at July 31. Without registering their
ongoing projects, the developer is not allowed to undertake marketing or
selling of their projects.
As the rules, if the
promoter allegedly contravenes the provision of Section 3 – it deals with
registration, selling and marketing of new and ongoing projects - he will be
liable to pay penalty up to 10% of the project’s estimated cost as determined
by the authority.
Until the midnight of
July 31, the regulator had received total 10,852 applications for registration
of ongoing projects across Maharashtra. The regulator had earlier decided to
levy a fine of Rs 50,000 on applications received after the deadline of July 31
until August 2.
The regulator had
received 500 applications for registration of ongoing projects until August 2.
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