MahaRERA: Ultimate Guide to Know Maharashtra RERA Act

Everything You Must Know About MahaRERA - Maharashtra RERA Act

Blog

Admin 26 Apr 2024 2,747 Views

Knowledge Advice

An Introduction to MahaRERA

The 2017 Maharashtra Real Estate (Regulation and Development Act) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest, and Disclosures on Website) Rules are a set of regulations for the real estate industry in the state of Maharashtra through the Maharashtra Real Estate Regulatory Authority (from now on referred to as "MahaRERA") have the following objectives:

● Registration of real estate agents and projects

● The selling apartments, plots, and structures should be transparent.

● Customers, allottees, brokers, and promoters participating in real estate transactions should all be protected.

● Encourage the use of a dispute settlement procedure to resolve disputes.

● Construct a dispute resolution forum that consumers may use as the option for an appeal.

● Make suggestions for the relevant government authorities about issues regarding the growth and promotion of real estate.

For all residential and commercial projects in Maharashtra, registration under MahaRERA is required. Real estate developers are prohibited from marketing, renting, or selling any real estate without registration.

How do I register under MahaRERA?

The exact steps for registering on the MahaRERA website are listed below:

Go to the website at maharera.mahaonline.gov.in.
Under the Login button, click the New Registration option.
Choose your user type in the newly opened window. You have a choice of a Real estate agent, promoter, and Complainant

Fill out the essential fields.
Check the validity of your email address to enable account login.
Send in the necessary paperwork by your choice.

What is the procedure for MahaRERA Project Search?

You must take the specific actions described below if you are looking for the MahaRERA project online.

Step 1: Go to maharera.mahaonline.gov.in, the official website of Maharashtra RERA. Click on MahaRERA login.

Step 2: Select the "Registration" tab from the main page.

Step 3: From the dropdown menu, choose "Registered Projects." You will be sent to a different page.

Step 4: Under "Search Project Detail," enter the "Project Name," "Promoter Name," and "MahaRERA Project or Agent Registration Number."

Step 5: Select the search icon. On the screen, the information will show up.

How to know which MahaRERA-registered projects have expired?

MahaRERA frequently publishes details regarding abandoned or abandoned real estate projects. These projects are essentially those that were initially registered but whose registrations lapsed for various reasons, including non-renewal. Any apartment, building, or land in the project (as applicable) cannot be advertised, reserved, sold, or made available for sale by the project's promoter.

To find out which projects have expired, take the following actions:

● Go to the MahaRERA website at maharera.mahaonline.gov.in.

● Go to the "Lapsed Projects" link under the "Registration" page. The list of abandoned projects is shown in a sequential sequence.

Documents required by a real estate promoter to register with MahaRERA?

For a promoter and agent, different documents are required. For easy registration under MahaRERA, please refer to the documentation listed below. Additionally, you should have these papers available in advance while registering the project, agency, or promoter online.

Documents for Promoter:

● PAN card among some of the KYC papers.

● Legal title report that has been authorized.

● Information about encumbrances

● Building layout design, as approved by the architect.

● A sales contract and an allocation proforma were both signed.

● According to Form B, a declaration.

● Architect-authorized certificates, such as Form 1. It is crucial when dealing with ongoing tasks.

● As per Form 4, an architect's certificate was submitted.

● CA-issued certificates by Forms 3 and 5.

● Certificate approved by Form 2 by the Engineer. In cases where there are active real estate developments, it will be required.

● Certificates of graduation.

Key Responsibilities and Functions of MahaRERA

The following are the duties and functions of the MahaRERA Authority:

requesting information from any promoter, allottee, or estate agent;
To go through the promoter's or agent's financial records, books of business, and finances.
Must be endowed with all the institutions and authority of a civil court as defined by the Code of Civil Procedure, 1908;
To appoint temporary orders prohibiting Promoters, Allottees, and Agents from taking part in any unlawful act;
To impose a fine on any Builder or Agent who disobeys the rules of the Act;
To note a circumstance or issue to the Indian Competition Commission. The tenure issue is related to a specific monopolistic situation that has affected the interests of allottees.
If an error appears on the promotional record, modify or correct any order within two years.

Know About MahaRERA Fees and Charges

The MahaRERA-related fees and charges are shown below:

Transaction Type	Fee per Transaction*
Registration of New Real Estate Projects	Rs. 750
For requests for project withdrawal and extension	Rs.500
Annual Charge for Registered Project Status Updates	Rs.500
To Register and Renew Your Registration as an Agent	Rs.500
To submit a complaint	Rs.50

FAQ’s

Q1. What is the MahaRera Act?

In effect from May 2017 is the Real Estate (Regulation and Development) Act, 2016. This law was put into effect to control and regulate the real estate industry. In Maharashtra, the real estate industry is governed by the Maharashtra Real Estate Regulatory Authority (MahaRERA).

Q2. What is the benefit of RERA?

Builders are prohibited from charging homeowners for both the built-up and the super built-up area under RERA, which is one of its key benefits. Simply put, this implies that purchasers only have to pay for the carpeted portion of the house they buy—the space between the walls.

Q3.How can I Check My MahaRera?

You may determine your Maha Rera by following the instructions in the article above. You must go to the Maha Rera website, select the "Register" button, and then enter the name of your project in the dialogue box that appears.

Q4. What is the difference between RERA and MahaRERA?

The main difference between RERA and Maha-RERA is that the RERA act which was implemented by state government Notification No. 23 to enable prospective buyers to decide where they would like to invest their money in genuine projects, whereas Maha RERA looks after the regulation and development of real estate projects of Maharashtra, the process of registration of real estate agents, rates of interest and disclosures everything about in the state of Maharashtra.

About Author

Jatin Dubey

An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.

Everything You Must Know About MahaRERA - Maharashtra RERA Act