Skip to main content

Rs 2 lakh penalty to be imposed for late registration under Maha RERA

Mumbai: Maharashtra RERA authorities, in a meeting held on Friday, decided to increase the penalty for registration of ongoing projects registered from September 1-30 to Rs 2 lakh or an amount equivalent to double the registration fee, whichever is more, subject to a ceiling of Rs 10 lakh.

The order was issued by MahaRERA chief Gautam Chatterjee and members Bhalchandra Kapadnis and Vijay Satbir Singh. The RERA authorities had set a penalty of Rs 1 lakh till August 16, and as per the order on Friday, the same amount will be levied till August 31.

The Real Estate Regulation Act prohibits ongoing unregistered projects from advertising and selling with effect from August 1. MahaRERA has stated that delaying the registration of the ongoing projects would jeopardize the interest of allottees of the said projects since the details of such projects would not be available in public domain for scrutiny and further filing of complaints.

The order issued on Friday also states that if a promoter does not agree to pay the aforesaid penalty, his application shall be processed under section 5 (1) (b) of RERA.

With registrations of ongoing projects touching more than 13,000, MahaRERA had earlier issued rules of penalty till August 16. Officials from MahaRERA had said that while they would be open to registrations of ongoing projects, they would decide on the penalty amount after a meeting. Officials from MahaRERA said applications received after September 30 would be processed as per provisions of section 5(1) (b) of RERA, 2016.

As per section 3(1) of RERA, no promoter shall advertise, market, book, sell or offer for sale or invite persons to purchase in any manner any plot, apartment or building without registering the real estate project with RERA. These projects should be ongoing on May 1, 2017, and for which the completion certificate has not been issued.

Source TimesNow

Comments

Popular posts from this blog

RERA Self Declaration to be submitted by the Promoters to the Bank

For Registration visit www.GoRERA.com
(Only 11 days left)

CircularNo.3/2017
No.MahaRERA/Secy/File No.27/79/2017 Date:07thJune2017.
Self Declaration to be submitted by Promoters to theBank.

WhereastheMahaRERAAuthority,undersection37oftheRERAAct,2016andRegulation38oftheMahaRERA(General)Regulations2017isvestedwiththepowerstoissuedirectionsandorders to promoters, real estate agents and allottees from time to time foreffectiveimplementation of the Act and to achieve the underlying object behind the RealEstate(RegulationandDevelopment)Act,2016.
Whereas the promoter under section 4(2)(l)(D) of the Real Estate (Regulation andDevelopment)Act,2016isrequiredtodepositseventyper centof

MahaRERA Statistics (Registered Units)

Mumbai homebuyers remain chary of new purchases, irrespective of which end of the budget spectrum they are at. Unsold inventory in the so-called city of dreams for 1-, 2-, and 3-BHK homes remains at 49, 50, and 51 per cent, respectively, a new report from real estate consultancy JLL India shows. Worse, the report, which looks at projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA), projects that unsold inventory in various parts of the city will rise in 2018 compared to 2017. According to the report, Thane Municipal Corporation and adjacent areas are performing better than Mumbai, with the least number of unsold units at 15 per cent for projects scheduled to be ready by end of 2017. The bad news is that the number is likely to be more than double to 38 per cent for projects that will be completed by 2018. The data, as of July 31, 2017, shows unsold inventory in Andheri at 36 per cent in 2018, compared to 28 per cent in 2017. Chembur is likely to see un…

Mumbai: 150 homebuyers register a complaint with MahaRERA against real estate project at Mira Road

Nearly 150 homebuyers have registered a complaint with the Maharashtra Real Estate Regulatory Authority (MahaRERA) against a real estate project at Mira Road which has been stalled for the last four years. Buyers said that the construction work of the project was affected after a dispute among the directors of the company, Kashmira Ceramics Products. According to one of the buyers, the project named Tanvi Eminence, is divided in two phases. It was announced in 2010 with 500 flats and the developer had promised to deliver the flats by 2016, however, the project got stalled in 2013 after a fallout amongst the directors. The buyers will be meeting Chief Minister Devendra Fadnavis and state chief secretary in order to take action against the developer. Buyers alleged each of them had paid an advance of nearly Rs 25 lakh to the developer while booking the flats and most of them are now paying off their loans. Although, only 150 buyers have lodged complaints, there are more than 400 home b…