RERA ROUNDUP 11 April, 2024/Vol. 2926 MahaRERA QR Code Mandate: RERA Easy Streamlines Compliance Effortlessly! Key Insights Attention Maharashtra Developers! Don’t get caught off guard by the new mandatory QR code rule for registered projects. Effective August 1, 2023, all promotional materials must include a QR code linking to project details. Rera Easy – Your RERA Partner: Newsflash: Enhance Transparency with MahaRERA QR Code! The Maharashtra Real Estate Regulatory Authority (MahaRERA) requires all registered projects to display QR codes on promotional materials. This ensures potential buyers have easy access to crucial project details, fostering trust and transparency in the market. Recently, MahaRERA underscored the importance of the mandate by imposing a cumulative fine of ₹2 lakhs on six developers in the Mumbai Metropolitan Region (MMR) for non-compliance.   What Does This Mean for You? As a developer, you need to ensure your project advertisements include a clear and scannable QR code. This code should link to a landing page with information mandated by MahaRera, such as project registration details and financial updates. The QR code should be presented in a manner that ensures its clarity, readability, and compatibility with software applications. How Do You Get Your QR Code? The good news is you can obtain your official QR code directly from the MahaRERA portal! Here’s a step-by-step guide: Have your RERA registration number and certificate handy. Log in to the MahaRERA portal. Navigate to the “Project Details” section for your specific project. Look for the “QR Code” option, typically located in the last section. Open and download the QR code provided by MahaRERA. This is the official code for your project. Integrate this QR code into all your promotional materials. Stay Ahead of the Trend! Partner with Rera Easy and embrace the new MahaRERA QR code mandate with confidence. Let’s work together to ensure a transparent and informed real estate market in Maharashtra. Contact RERA Easy today! :- We’ll help you navigate RERA compliance and achieve a successful project launch.

RERA ROUNDUP 10 April, 2024/Vol. 2925 MahaRERA Revocation Alert! Rera easy – Your RERA Compliance Partner 3,785 Maharashtra Agents Lose Licenses! – Don’t let non-renewal stall your career. RERA EASY, your Maharashtra RERA consultants, can help ensure smooth Compliance.   MahaRERA revoked licenses of agents who failed to renew since 2017. To regain licenses, they need training and Certification.   Affected Cities: -Mumbai (including suburbs): 6,291 -Thane: 3,075 -Pune: 2,349 Navigate RERA with Confidence: Renewal Guidance: We simplify the rera license renewal process, ensuring timely completion. Compliance Support: Avoid confusion with our expert guidance on RERA regulations. Peace of Mind: Focus on your business – we handle the complexities of RERA compliance. Thinking of Buying or Selling Property? Ensure your chosen agent is RERA-compliant. Considering a Real Estate Career? Let us guide you through the RERA registration process. Contact Rera Easy today! We are your trusted RERA partner in Maharashtra. MahaRERA: One Project, One Registration Number – We Can Help You Comply! Contact us today!- Let us manage the complexities of RERA compliance and rera license renewal, keeping your project on track for success. MahaRERA Gets Clearer: – A recent ruling by the Maharashtra Real Estate Regulatory Authority (MahaRERA) clarifies that a single project can only have *one registration number. This comes after a case involving a builder who tried registering the same project twice under different names. What This Means for Developers: – This decision promotes transparency and discourages misleading practices. However, navigating RERA regulations can be a complex task for developers. Don’t Go It Alone: – This is where we can assist! Our group of knowledgeable Maharashtra RERA consultants can help you with the registration procedure and make sure your project remains compliant. Focus on What Matters:- By partnering with us, you can avoid penalties and delays, allowing you to focus on what matters most – developing exceptional projects.

RERA ROUNDUP 08 April, 2024/Vol. 2924 MahaRERA’S Ruling on Godrej Properties Key Insights MahaRERA Ruling on Godrej Properties : The Maharashtra Real Estate Regulatory Authority (MahaRERA) ordered Godrej Greenview Housing Private Limited, a part of Godrej Properties, to refund a homebuyer by deducting only 2% instead of 5% from the total booking amount for a cancelled apartment booking in the Godrej Emerald project in Thane, Mumbai.   Homebuyer’s Complaint : Ajit Dabhade, the complainant, had booked a flat worth Rs 92.17 lakh in June 2019 with an earnest amount of Rs 5 lakh. The booking was cancelled due to issues in securing the promised loan for stamp duty and registration, leading to the forfeiture of the entire amount by Godrej Properties.   MahaRERA’s Decision : MahaRERA ruling on Godrej Properties directed the developer to deduct only 2% of the total consideration value of the flat, amounting to a refund of the balance to the homebuyer. This decision was based on the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), emphasizing that the forfeiture of the entire amount was not legal.   Legal Precedents and Implications: MahaRERA ruling on Godrej Properties aligns with its earlier order from August 2022, which set a maximum forfeiture limit of 2% in cancellation cases by homebuyers. This directive is applicable retrospectively to registered projects, including Godrej Emerald, and could lead to similar refund situations for other real estate developers.   Godrej Properties’ Response: An email query sent to Godrej Properties seeking comments on the matter did not elicit any response at the time of reporting. Victory for Flat Buyers: Bombay High Court Upholds MahaRERA’s Decision on Interest Claims for Delays It ruled that flat buyers can still seek interest on delayed possession even after taking possession of the flat. The decision is seen as a major development in protecting the rights of flat buyers and holding promoters accountable for delays. Bombay High Court upholds MahaRERA’s order allowing flat buyers to claim interest for delays even after possession. Court rules that there’s no bar under section 18 of RERA for flat buyers to claim interest for delays. Experts view the ruling as a significant victory for flat purchasers with similar grievances. The ruling encourages litigants to hold errant promoters accountable. The case involved a Pune-based promoter challenging MahaRERA’s order, which was upheld by the Maharashtra Real Estate Appellate Tribunal. The flat buyer received an Occupancy Certificate in 2018 and claimed interest for the delay in receiving possession. Promoter’s contention cited reasons for delay beyond their control, including a mishap at the construction site and court restrictions. The High Court observed that the promoter was responsible for the delays and cannot avoid liability to pay interest.

RERA ROUNDUP 05 April, 2024/VOI. 2923 MahaRERA Registrations FY23-24: Received 5,471 applications; approved 4,332 real estate projects. Key Insights Leading Regions: Pune: 1,172 approved projects. Thane: 597 approved projects. Mumbai Suburban: 528 approved projects. Raigad: 450 approved projects. Nagpur: 336 approved projects. Nashik: 310 approved projects. Mumbai Metropolitan Region (MMR) : had the highest number of new projects at 1,976. Western Maharashtra : 1,415 projects approved. Vidarbha: 437 projects approved, with Nagpur accounting for 336. Northern Maharashtra : 347 new projects, Nashik leading with 310. Marathwada : 149 new projects, with Aurangabad having 117. Additional Requirements: For Kalyan-Dombivali area, mandatory to get a ‘Commencement Certificate’ (CC) for MahaRERA registration. Scrutiny Process: Projects are scrutinized at three levels – legal, financial, and technical before approval. Pending Approvals : 1,139 projects still under scrutiny, awaiting error rectification for MahaRERA Registrations issuance. Related:- Unlocking Transparency: MahaRERA’s Project Grading System Unveiled Maharashtra RERA Takes Action: Cancels Home Buyers’ Agreements in Pune MahaRERA cancels home buyers’ agreements in Pune after developer complaint, citing failure to make timely payments, violating RERA Act. This marks a significant shift as it’s the first instance where MahaRERA has cancelled home buyers’ agreements and instructed the registrar to take appropriate action. Nine homebuyers instructed to cancel deeds by MahaRERA following complaint from GERA Developments, citing partial payments and agreement non-compliance since 2019—2020.  The nine apartments, averaging 1,000 sq ft each, with payments ranging from 10 to 20% since 2019, posed challenges for the developer in selling or receiving balance payments. MahaRERA instructed homebuyers to execute cancellation deeds within 30 days; failure could lead to developer filing non-compliance applications fpr further action”. Violation of Section 19(6) of the RERA ACT, mandating timely payments specified in the sale agreement, led to the cancellation of home buyers’ agreements accordings to MahaRERA.

RERA ROUNDUP 04 April, 2024/Vol. 2900 Empowering Homebuyers: MahaRERA’s Project Grading System Introduction : MahaRERA is set to launch the MahaRERA Project Grading System to help homebuyers make informed decisions. Grading based on four parameters: technical, financial, legal, and project overview. Projects evaluated every six months to ensure alignment with construction progress. Key Insights Parameters for Evaluation : Construction Quality: Assessing developer’s track record in construction, materials used, and adherence to regulations. Environmental and Sustainability Factors: Considering project’s impact on environment, compliance with sustainability standards, and incorporation of energy-efficient measures. Developer’s Track Record: Evaluating reputation, timely completion of projects, financial stability, and customer satisfaction. Customer Feedback: Incorporating feedback from existing customers to assess satisfaction and address concern.   Industry Experts’ Insights : Suggestions for improvement include promptly updating grades, providing clear explanations for assessments, and implementing effective feedback mechanisms. Recommendations for educating buyers on interpreting grades and establishing a fair appeals process for developers.    Developers’ Perspectives : Optimism regarding benefits of MahaRERA Project Grading System, with suggestions to streamline data requirements and display project ratings prominently. Overall, proactive approach fosters responsible practices and builds trust between buyers and developers. Bridging the Gap: MahaRERA Mandates Builders’ Bank Details MahaRERA requires builders to disclose bank details in recovery warrants for streamlined dues recovery.   Direct access to builders’ accounts expedites dispute resolution, benefiting homebuyers and stakeholders.   The initiative underscores MahaRERA’s commitment to consumer protection and sector accountability.   Our firm stands as a reliable bridge between builders and authorities, ensuring compliance and efficient resolution.   Clients trust our expertise to navigate regulatory complexities, fostering confidence and reliability in Transactions.