MahaRERA to fine 480 projects for late registration

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RERA

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to impose a penalty of Rs 50,000 each on the 480 real estate projects that were registered post the July 31 deadline.

Vasant Prabhu, Secretary, MahaRERA, stated that the window for project registration with the regulator is still open, but with penalty. Officials have stated that penalty for those who register with MahaRERA on and after August 3 would be decided soon by the authority.

Experts have demanded to issue a circular or notice to stop project registration with MahaRERA without any penalty imposed.

As per Section 3 of the Real Estate (Regulation and Development) Act (RERA), no extension for project registration will be allowed and developers or builders registering their projects post set deadline will be penalised. Since the Act mandates registration of projects in order for them to be sold or even advertised,  developers will have to come forward and register their ongoing projects with the state regulator.

Nearly 11,000 applications for registration had been received by MahaRERA till July 31. Out of all the applications received, approximately 2,100 developers and 4,682 projects have been registered in the state.


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  • Comments
  • Deepak singh October 8, 201711:36 pm

    Dear sir,

    Just want to your kind attention still my project not registers in Maharera..

    Both builder and landowner is playing with us..

    I write mail to inform maharera to check and acton both of them but still no response from maharera team

    Please do the needful

    Deepak Singh
    8828425357

    Reply
    1. Aman

      Aman October 25, 20173:11 pm

      It is advised to wait for some more time for a reply from the RERA authority. All commercial and residential real estate projects will have to register except in projects where 1) area of land proposed to be developed does not exceed five hundred square meters. 2) Number of apartments proposed to be developed does not exceed eight inclusive of all phases. 3) Promoter has received completion certificate for a real estate project prior to commencement of this Act.

      Reply
  • anita bhawal October 22, 201711:54 pm

    if a plot having four fsi, how much minimum area sq meter is required for construction of building

    Reply
    1. Aman

      Aman October 25, 20173:08 pm

      FSI means Floor Service Index and is used for residential properties. This mean the total area that can be constructed in a particular piece of land. The higher the FSI the lower is the price of the property as more houses can be built on the same piece of land and vice versa.

      Reply
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