The Maharashtra Real Estate Regulatory Authority (RERA) has issued an order clarifying the conditions for real estate projects to be eligible for RERA registration in the state. This new circular clarifies exactly which projects are eligible to be registered with RERA and also provides a clarification regarding the commencement certificate and the completion certificate within the meaning of Unified Development Control and Promotion Regulations (UDCPR).
According to the MahaRERA circular dated October 22, 2024, that quoted RERA law, section 3(2) (a) specifies which projects need to get RERA registration. “Where the area of land proposed to be developed is less than or equal to five hundred square meters or the number of apartments proposed to be developed does not exceed eight inclusive of all phases,” as per the MahaRERA circular which quoted RERA law.What it means is that a real estate project would be eligible for RERA registration in Maharashtra only when it has a land area of more than 500 sq meters and must have nine or more apartments.
Real estate projects where the area of land proposed to be developed is less or equal to five hundred square meters shall not require MahaRERA project registration irrespective of whether the number of apartments/units proposed to be developed is less than or more than eight apartments/units as the case may be inclusive of all phases.
Real estate projects where the number of apartments/units proposed to be developed is less or equal to eight apartments/units inclusive of all phases shall not require MahaRERA project registration irrespective whether the area of the land proposed to be developed is less than or more than five hundred square meters.
What it means is that the real estate project should meet both the conditions of total area and number of apartments to qualify for RERA registration. What is the impact of this clarification regarding RERA registration on consumers? Experts decode the impact of these clarifications regarding which real estate projects can take RERA registration issued by MahaRERA through the circular dated October 22, 2024.
