Tag: maharera

According to officials, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved the deregistration of two projects in the state out of a total of 60 applications received for the same.

The authority issued an order in February allowing developers to deregister their projects under specific conditions. The procedure has been permitted because many developers are unable to begin and complete building construction.

Deregistration of real estate projects with no allottees (homebuyers) is now permitted under MahaRERA. If there are homebuyers, deregistration will be considered only if the developer resolves the homeowners’ rights and claims, according to the ruling issued on February 10 of this year.

According to the authorities, while two developers have been allowed to deregister under the conditions outlined above, the remaining 58 petitions are being reviewed. “We are carefully reviewing all applications.” “We have only allowed the deregistration of two projects so far,” stated a MahaRERA official.

Homebuyers added that if projects are deregistered, it should be noted on the MahaRERA website, and a notice should be posted at the building site. “The authority should ensure that the developers explain the reasons for not proceeding with the project on their website and they should also indicate the same at the construction sites,” said advocate Godfrey Pimenta, trustee of the Watchdog Foundation.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/deregistration-okayed-for-two-projects-in-state-by-maharera/40969

Homebuyers can now get details such as the progress of the construction, promoter’s name, hurdles in completion of a project, to registration date among other crucial details by just scanning a QR code on project registration certificates.

In a first-of-its-kind initiative, the Maharashtra Real Estate Regulatory Authority (MahaRERA) started a QR-code-based technological service that will help homebuyers get transparent information in a single scan.

Last week, MahaRERA issued the first QR-code-based project registration certificate to the Gera Planet of Joy Project in Wagholi, Pune. All newly registered projects will carry the QR code. The authority will also install the QR code on older project registration certificates in a phased manner.

Homebuyers can simply scan this QR code on project registration certificates visible on MahaRERA portal and the scan will generate relevant information about the project, including the name of the project, the promoter’s name and details, the completion date, the registration date, the statutory approvals received by the project etc.

The QR-code scan will also provide critical information to buyers like any changes in the approved plan of the project, and any extensions given to the project’s validity, any recovery warrants issued against the project. Homebuyers will get to know if there are any problems with the finances and timely delivery of the project using the information on complaints and warrants issued against the project.

“Now, homebuyers can also get crucial information under Form 5. Under RERA norms, it is mandatory for developers to provide updated information about the construction progress and financial updates every quarter and half-yearly. Home buyers will be able to access this information by simply opening the registration certificates of newly registered projects and scanning the QR code,” said a MahaRERA official, adding that the registration certificates for older projects will also be updated with the QR-code over a period of time.

Over 40,000 projects are presently registered with MahaRERA out of which 11,099 are completed. Over 20,783 complaints have been filed, and 14,049 orders have been issued on these complaints.

Stealing a march over other states, MahaRERA was the only state RERA authority portal which went live on May 1, 2017, the day Real Estate (Regulation and Development) Act 2016 came into existence. It is also the first to start the Conciliation Forum, an alternative grievance redressal mechanism where home buyers and developers can sit across the table with MahaRERA-appointed conciliators and settle complaints out of court. It was the first authority to geo-tag projects with information about social infrastructure around a registered project.

Source: https://www.hindustantimes.com/cities/mumbai-news/in-a-first-maharera-brings-in-qr-codes-to-help-homebuyers-get-transparent-info-101679942257557.html

As many as 3,244 property registrations took place in Mumbai on March 11 alone, generating Rs 249.42 crore in stamp duty and registration fees. The Maharashtra Department of Registration and Stamps informed that 46,811 conveyance deeds were also recorded on the day and a revenue of Rs 877.79 crore was generated.

Currently, the stamp duty fee is 6 per cent and registration charge is 1 per cent, excluding other taxes like metro cess and local body tax. Women homebuyers get a rebate of 1 per cent in stamp duty.
Real estate experts say that property registrations will do well in the high-budget luxury section as the tax on capital gains will come into effect from April. February also saw the highest revenue collection in Mumbai.

One of the major reasons behind the rise in sales in high-budget homes in Mumbai and other cities is believed to be Union government’s recent move to limit capital gains tax deductions to Rs 10 crore.
MahaRERA, the real estate regulatory authority, is also raising awareness among the homebuyers on how to save their money from getting stuck in any stressed project. It advised the property buyers to purchase only RERA-registered properties after a detailed background check.

MahaRERA also issued a list of dos and don’ts for real estate developers to update all such information in the public domain.

Source: https://www.timesnownews.com/mumbai/mumbai-sees-over-3000-property-registrations-in-11-days-article-98586266

To prevent fraudulent practices on the part of builders and developers, the Urban Development Department of the Maharashtra government Thursday directed all local bodies to upload permissions granted for commencement of construction and occupancy to builders for new and upcoming residential and commercial projects on their website and integrate them with the Maharashtra Real Estate Regulatory Authority (MahaRERA) before March 31, 2023.

These permissions are in the form of Commencement Certificates (CCs) that allow builders to start construction of a building and Occupancy Certificates (OCs) permitting residents to move into the building once the construction is complete.

In case the local bodies do not have websites for this purpose, the Urban Development department directed them to design and activate the websites and integrate them with MahaRERA before March 31, 2023. Meanwhile, all local bodies have been directed to email the permissions to MahaRERA. The local bodies will have to communicate updates in the permissions to RERA each time. A government resolution to the effect was issued by the Urban Development department on Thursday.

“In case of Mumbai, Brihanmumbai Municipal Corporation (BMC) already has a mechanism to publish these permissions online and integrate it with RERA,” an official said.

Last year, it had come to light that builders in Kalyan Dombivali constructed buildings without requisite permissions from the local bodies and sold apartments in these buildings by creating fraudulent documents of permission. A senior official said, “These documents are submitted to RERA with a self-declaration from the builder, who submits an affidavit. However, until now, there was no way for RERA to verify if these documents are original. If a fraudulent document is submitted with the signature of the concerned authority, it is taken as an original permission.”

“RERA wrote to the Urban Development department last year requesting it to develop a mechanism where documents can be verified, following which these provisions were made,” the official said.

Source: https://indianexpress.com/article/cities/mumbai/govt-local-bodies-construction-permissions-websites-maharera-8464551/

The aim of the MahaRERA mechanism is to bring transparency in the sector to help the homebuyer, its chairperson Ajoy Mehta said on Saturday.

He was speaking at a function organized by National Real Estate Development Council (NAREDCO) on ‘RERA Updates and Insights’ in Navi Mumbai.

“Only when the real estate industry survives will the homebuyer gain. We will hold workshops organised by MahaRERA and NAREDCO to help developers gain clarity over compliances,” he said.

While builder and NAREDCO vice-chairperson Niranjan Hiranandani said MahaRERA must speed up the process of giving approvals, Sanjay Dutt of Tata Realty and Infrastructure said institutional funds were flowing into the real estate industry at a good pace.

The industry is likely to attract investments of Rs 3 lakh crore over the next three to four years, Dutt claimed.

The Real Estate Regulatory Authority has helped the real estate sector gain respect due to regulations and professionalism, including the option for exit through deregistration of a project, NAREDCO president Rajan Bandelkar said.

Meanwhile, Sanjay Deshmukh, MahaRera nodal officer for lapsed projects, urged developers to improve the quality of the uploaded data.

“Around 75-80 per cent of participants were falling short on quarterly filing timelines,” he said. PTI COR BNM BNM

Source: https://theprint.in/india/maharera-brings-transparency-into-real-estate-sector/1381736/

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Friday issued an order laying down conditions that include protecting the rights of homebuyers.

The developers can now deregister their real estate projects themselves.

MahaRERA Secretary Dr Vasant Prabhu, in the order, cited instances where promoters who have registered their projects are unable to commence and complete the construction, or have commenced the construction but are not in a position to complete the construction.

The reasons could be lack of funds, economically unviable projects, litigations, inter se disputes, family disputes, change in planning, or government notifications. Keeping these projects registered with the authority is not beneficial for stakeholders, the regulatory body has said.

MahaRERA’s conditions for de-registration

Therefore, MahaRERA has now set out conditions for deregistration. Only projects where not a single booking has been received will be considered. In case there are purchasers, the onus to settle the rights of such allottees will be on the affected developer.

Additionally, if a part of the project getting deregistered is affecting the rights of the remaining project, two-third consent from allottees is mandatory while submitting the deregistration application. Aggrieved persons other than the builder can move MahaRERA by lodging a complaint.

Mixed reactions from real estate industry

In the real estate industry, this order has been received with mixed reactions. While realtors have welcomed it as it provides them an exit, the buyers are somewhat unhappy. Purchasers said there is a need to lay down more stringent conditions as the developers are known to not just keep home purchasers but also MahaRERA in the dark by not updating the status of the project. Moreover, the orders passed by the regulator are barely honoured by the real estate fraternity, earning MahaRERA the monicker of a toothless tiger.

Source: https://www.freepressjournal.in/mumbai/mumbai-maharera-offers-exit-option-to-realtors-but-with-conditions

In a first, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has established a counselling set up at its Bandra Kurla Complex headquarters to help both homebuyers and developers understand the modalities and operations of the authority.

The move is expected to help homebuyers get better support from the regulator and improve compliance by developers. Through this set-up, homebuyers can resolve their queries regarding the complaint mechanism, while the developer will also be able to clarify several doubts.

The counsellor will have an office on the fourth floor of the MahaRERA office. Homebuyers facing any issues in their projects may want information about the process to seek relief under RERA provisions. The counsellor will be able to explain how to file online complaints, how to monitor the complaints on our portal etc. What is the difference between the conciliation forum which resolves grievances out of court and filing formal complaints etc.

Similarly, developers may also need advice on various aspects as registration of their ongoing project is mandatory. There are multiple forms and compliances. Developers can also seek advice on how to update the information of their ongoing project every quarter as required by the Act, how to manage the money allocated for the project, the statutory audits required etc.

Earlier, the state housing regulator had appointed a nodal officer to monitor the recovery warrants issued for refunds by the Authority. The authority had written to 13 district collectors to provide special assistance to execute these warrants, and the move resulted in the recovery of Rs 100 crore of refund money from errant developers. Similarly, the nodal officer has also issued show cause notices to over 19,000 projects registered with MahaRERA to ensure that the companies update the information about the progress of their projects every quarter as mandated by RERA.

Source: https://www.rprealtyplus.com/news-views/in-a-first-maharera-establishes-counselling-set-up-for-homebuyers-developers-109477.html

To ensure that delayed real estate projects are completed, the Maharashtra Real Estate Authority (MahaRERA) has allowed developers to apply for extension of property registration without the need for consent of 51 percent of homebuyers.

Developers will be required to state the reason why registration should be extended without such consent. MahaRERA also asked developers to declare their interest in multiple real estate projects during registration, a step that would help homebuyers to take an informed decision.

MahaRERA, in its order, said developers do not get consent homebuyers’ consent often despite being willing to complete an unfinished project. The order states: “It has been noted with concern by the Authority that in matters regarding extension of project registration under Section 7 (3) of the Act when promoters are seeking consents from the concerned association of allottees consisting of a majority of allottees who have booked their plot or apartment or building in the real estate project, the consents are not being provided for the following reasons (not exhaustive).”

The three reasons mentioned in the order include homebuyers’ concern that their complaint to the Authority would be dismissed, that relief would not be forthcoming if the consent is given and lack of confidence that the developer would complete the project. When homebuyers do not consent to the renewal of registration, it stops the developer from executing a project. This, the order said, is not in favour of homebuyers.

Developers shall submit the consents as obtained from the allottees irrespective of the number of such consents along with reasons why the required percentage of consents from allottees could not be obtained and why the application for extension should be considered without the required 51% consent.

Developers have been asked to additionally submit an explanatory note, setting out the grounds and reasons for the delay in completion of the real estate project as well as setting out the need for a grant of extension along with documents supporting such grounds and reasons. The promoters were also asked to state the steps they would take to complete the project within the extended period sought.

The order adds, “Application of extension of validity of the project registration shall be accompanied with the prescribed fees calculated in the manner as stated in Rule 7 (3) of the Rules. The grant of extension of the project validity shall not affect/jeopardise the rights accrued in favor of the allottees who have booked their plot, unit or apartment, or building in the said real estate project as the case may be for which extension of project validity is sought.” Experts say the order may be in good faith, but it can be challenged in a court of law.

Source: https://www.rprealtyplus.com/news-views/maharera-allows-extension-of-property-reg-without-majority-consent-108950.html

The Bombay high court has sought a reply from Maharashtra Real Estate Regulatory Authority (MahaRERA) regarding a homebuyer’s plea that the housing regulator has not taken up her complaint for hearing for the last one and half years.

Homebuyer Geeta Bhavesh Bhanushali had filed a writ petition in the high court after her complaint was not taken up by MahaRERA for hearing.

Lodha and Lodha Advocates, appearing for the petitioner, contended that their client’s grievance was that MahaRERA had not scheduled a hearing of her complaint for the last one and half years.

A bench comprising Justices SV Gangapurwala and SG Dige directed assistant government pleader Uma Palsuledesai, who appeared for the state, to take instructions from MahaRERA and inform the court on the status of the petitioner’s complaint and cite the reasons why it has not been listed for hearing. The court scheduled the next hearing on December 12.

Bhanushali, her husband Bhavesh, and father-in-law Kalyanji Bhanushali are residents of flat no 903 in the B wing of Tirumala Habitat project in Mulund West. They had booked the flat in June 2011 by paying ₹1.12 crore including taxes. Though the agreement for sale promised possession on or before September 30, 2014, the possession was delivered only in September 2019 after a delay of five years, the complainant alleged.

The complainant also alleged that she was shocked when the family received the first property tax bill on November 16, 2019 from the Municipal Corporation it showed flat nos 903 and 904 approved as a single flat. She had approached MahaRERA with a complaint seeking interest on delayed possession and prayers for sub-division of the flat among other grievances.

Over 6000 complaints pending with MahaRERA

In a related development, social activist and advocate Godfrey Pimenta, who represents homebuyers before MahaRERA, wrote to chief minister Eknath Shinde that homebuyers of stalled projects were complaining that hearings before MahaRERA are “unduly” delayed, in some cases, for close to two years.

The letter said there were 38,750 ongoing real estate projects registered with MahaRERA and a total of 19,290 complaints filed with the regulator. Out of these,12,971 complaints were disposed of and 6,319 complaints were yet to be heard.

The letter submitted through Mumbai Suburban Collector Nidhi Choudhari to the CM pointed out that a recent JLL report had estimated that there were 99,000 stalled residential units in MMR, and delays in hearing cases pertaining to Section 7 and 8 of RERA which seek deregistration of a delinquent developer and appointment of a new developer further compound the misery of homebuyers.

Source: https://www.hindustantimes.com/cities/mumbai-news/hc-seeks-maharera-reply-on-1-5-yr-delay-in-hearing-complaint-101669230316095.html

Setting aside an order by the MahaRERA chairperson, the Maharashtra Real Estate Appellate Tribunal (MREAT) observed that the developers continued to skip mentioning the date of possession of flats in their allotment letters given to home buyers even two years after RERA came into place. The tribunal has asked MahaRERA to view this seriously.

“This requirement, envisaged by RERA, is flouted more often than observed which needs to be viewed seriously by the authority,” observed a tribunal bench, comprising Shriram Jagtap, member judicial, and SS Sandhu, member administrative, in a November 11 order. The bench also slammed the practice of developers not sharing a draft Agreement For Sale (AFS) containing the terms and conditions prior to asking for payment for execution of the agreement.

The tribunal also took strong exception to the Authority’s “over emphasis” on the view that home buyers need to seek reliefs under Section 18 on or before the Occupancy Certificate (OC) is obtained, and that they were not entitled to refunds under the section if they file the complaint after the OC is obtained by the promoter. MahaRERA had backed the promoter’s contention that irrespective of the delay in granting possession, once the OC is obtained or possession offered, Section 18 would not apply.

In this case, the home buyers had filed the complaint on March 17, 2021, after the promoter had obtained the OC by February 9, 2021.

The observations came on appeal filed by senior citizens, Bijon and Shanta Talukdar, who had booked a flat in Eirene project by promoter Dhruva Woolen Mills Pvt Ltd. Booked under the 9:91 scheme, the couple had paid ₹9.44 lakh and the remaining 91 per cent was payable at the time of possession.

Though the email communication between the parties indicated June 2020 as the date of possession, it was not specified in the letter of allotment (LOA) issued by the promoter on June 19, 2019 – on the MahaRERA portal, the promoter mentioned the possession date as December 2019, with a grace period of six months. Thereafter, the promoter could not hand over possession by June 2020, thanks to the lockdown; and in the intervening period MahaRERA allowed extension of possession date till December 2020.

Meanwhile, the home buyers served notice on the promoter on August 24, 2020, to hand over possession within 15 days, failing which their money be refunded with interest. They reiterated the demand in another legal notice dated January 21, 2021. Thereafter, the promoter informed the couple that OC had been received on February 9, 2021, and asked them to take possession by paying the balance 91 per cent amount as agreed.

As the demand for refund with interest was declined, the home buyers had filed a complaint seeking refund of the amount under Section 18 for delay in possession. MahaRERA had dismissed the complaint after agreeing with the promoter’s contention. Aggrieved by the order, the home buyers had challenged the September 7, 2021, order before MREAT.

The tribunal held that the promoter had replied to the legal notice only on February 26 (after the OC was obtained on February 9) declining to refund their investment, and therefore, there was no undue delay in homebuyers approaching MahaRERA seeking relief under Section 18.

The orders by MREAT can be challenged by aggrieved parties before the Bombay High Court in second appeal on a point of law.

Source: https://www.hindustantimes.com/cities/mumbai-news/buyers-can-seek-refund-if-builder-skips-possession-dates-tribunal-101668538140352.html