Both Mumbai based developer and thane builder need to go for the first country register under the RERA that come into the result on May 1.
Nayan Shah of Mayfair Housing get updates his fresh project plan online on the MahaRera website on Monday. Then he followed BY the famous Rajan bandelkar of Raunak group. As result, the Thane as well as the ten property agents said to Gautam chatterjee to hold the interim charge of the current state regulator.
Chatterjee has heads of 20-team member from office of Makeshift in the SRA building in the bandra east. Then it said that almost every application must get registers within next few days itself.
As consent, the respective developer must upload the details regarding their experience for past five years and money incurred, estimate cost of the project, major flat sold for and account number of the Escrow bank and much more additional details. The current law declares a builder to submit the affidavit information of the completed project by him when the time applying for the registration is getting correct and complains of RERA.
Shad said that around 90 minutes to upload the major document of TOI for ongoing project and Mayfair is being comprised of around 198 to 298 apartment in major part of the Titwala.
She out team is ready withdrawing the major sale plan and other brochure until the project is being completed registered.
Bandelkar applied Unnathi Woods’s project at Thane Ghodbunder Road and it filled with two building along with the 234 flats with the major facilities. From the MahaRERA website, you can collect the additional details and even it is user friendly to function by the KPMG team as well as the Mahaonline. It never need of human interaction at every time which said by him.
Chartterjee said , In case the developer submit any sort of the false data regarding the project which let them to meet the major penalties and take criminal action below the current Law.
The RERA has linked with the four wings such the technical, administration and IT, legal, finance. Hence, the developer gets shock on share of all their project information to the public. Here the new law will bring the self-discipline among the builder and in the real estate industry. When an of project get compliant, then developer need not step into the office.
It is necessary for the builder to get register for all upcoming and ongoing projects to advertise, book, sell and purchase the plot and apartment.
When you are coming for the registration process, the respective plan must go approved by the local authority such the BMC. so the builder have to provide the major building in his own application of registration where the building are get proposed as well as some of the building approval are still in pending , as per the rule of RERA.
In case fails to register according to the ACT, he/ she will be liable to penalty, which expand up to 10% of your estimate project cost. By continued abuse of laws, he/ she will be punishable around three years and have change to extend the punishment.
• Most of residential and commercial project are get registered expect where
• The development land areas doesn’t get exceed more than 500 sq meters
• There is no apartment will be more than 8 floor, inclusive of all phases
• The promoter can get completion certification for the project
If the project is under repair and going for renovation, it should not involve marketing and selling to the buyer.