Clarification on Calculation of Carpet Area

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

For Registration visit www.GoRERA.com (Only 11 days left) Circular No. 3/ 2017 No.MahaRERA/Secy/File No .27 /79/2017 Date : 0 7 th June 20 1 7 . Self Declaration to be submitted by Promoters to the Bank. Whereas the MahaRERA Authority, under section 37 of the RERA Act, 2016 and Regulation 38 of the MahaRERA (General) Regulations 2017 is vested with the powers to issue directions and orders to promoters, real estate agents and allottees from time to time for effective implementation of the Act and to achieve the underlying object behind the Real Estate (Regulation and Development) Act, 2016. Whereas the promoter under section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 is required to deposit seventy per cent of the amounts realised for the real estate project from the allott ees in a separate account to be maintained in...

Soon, realtors will have to display 'approved plans' on construction sites

From now on, realtors will have to display approved building plans on the site of their project. In a Supreme Court order, it has been made mandatory, and Consumer forum in Mumbai claims that MahaRERA has agreed to their demand on the same. This they say will help a home buyer in knowing where is he putting his money. A section in the order stated that, "...keeping in mind the provisions of RERA and their objective, the developer should mandatorily display at the site the sanction plan. The provision of sub-section (3) of Section 11 of the RERA require the sanction plan/layout plans along with specifications, approved by the competent authority, to be displayed at the site or such other places, as may be specified by the Regulations made by the Authority. In our view, keeping in mind the ground reality of rampant violations and the consequences thereof, it is advisable to issue directions for display of such sanction plan/layout plans at the site, apart from any other man...

Big boost for home buyers: Projects received part occupation certificate to come under MahaRERA

In an order that would set a precedent for future cases related to part occupation certificate, the MahaRERA (Maharashtra Real Estate Regulatory Authority) in an interim order dated September 12 has held that the project will come under its jurisdiction even though it has received part occupation certificate. In its order, MahaRERA implied that having part occupation certificate means the project is not completed. The ruling is very significant as getting part occupation certificate for the projects is quite a trend among the developers in Maharashtra. HIS-ERP.COM “This will be a welcome order for the home buyers. The projects with part occupation certificate will now be considered as ongoing projects. This means, they will now come under the purview of RERA,” said Apurva Kanvinde, senior associate, Juris Corp. The order was passed in a complaint filed by Haresh Jethmal Asher against Bellissimo Crown Buildmart, which is a subsidiary of Lodha Developers. The buyer ha...

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