FAQs Clear your Doubts
1. Can a real estate project be register under MahaRERA on basis of IOD or without obtaining Commencement Certificate?
Ans. No. As per the section 4 (2) (c) commencement certificate from the competent authority is a mandatory document while filing application for registration.
2. Is it compulsory for the promoter to register the project immediately after he gets sanctioned approvals?
Ans. The Promoter can continue the construction of the project without the registration. Promoter has to register the project before he wishes to start any form of advertising, marketing, booking, selling, offer for selling or inviting people to purchase plots, apartment or buildings.
3. What if Part OC is received for the project: is it exempt from registration?
Ans. The phase for which the part OC is received does not require registration. The phase for which the construction is on-going and the part OC is not obtained requires registration.
4. How much amount can be accepted by the promoter after RERA registration is done?
Ans. As per section 13 (1) A promoter shall not accept a sum more than 10% of the cost of the apartment, plot, or building, as an advance payment from a person without first entering into written agreement for sale with such person and register the said agreement for sale.
5. If buyer is ready and gives undertaking that he is ok to give money beyond 10% however does not want to register. Should it be allowed?
Ans. No. Section 13(1) of the Act prohibits the promoter from taking more than 10% of the cost of apartment without entering into a written agreement for sale, duly registered.
6. When does the promoter need to form society, association etc.?
Ans. The Promoter has to ensure that an association or society of allottees should be formed within three months of 51% of allottees have booked their apartment in the project.
7. Can the promoter change the Building plans of the project after registration?
Ans. MahaRERA protects the interest of the all the allottees, so if the promoter needs to make major additions or alterations such as structural change including an addition to area or change in height, removal of part of a building, or any change to structure such as construction or removal or cutting into of any wall, column, beam, joist, floor or the other support the promoter will require written consent of atleast two third of the allottees who have agreed to take apartments in such building as mentioned in section 14 of the act.
8. Is it Complusory to update the real estate project in MahaRERA?
Ans. It is the duty of the promoter, upon receiving the MahaRERA Certificate shall update the project details on the website atleast once in every ninety days as mentioned in section 11 of the act.
9. What does a RERA Account or 70 % Account means?
Ans. RERA Account or 70% account means a designated separate bank account needs to be opened for a single project in which the the 70% of the amounts realised for the real estate project from the allottees, shall be deposited and shall be used only for that purpose.
10. Can separate account be more than one since at times there might be multiple lenders in same project (building wise lender) though developer might register the project at one go?
Ans. No. There should be one designated bank account for every registered project or registered phase of a project.
11. How can the promoter withdrawn the amount deposited in separate bank account?
Ans. The amount from the separate account shall be withdrawn by the promoter on basis of the certificates duly certified by the chartered accountant in practice, an engineer and an architect proportional to the percentage of completion of the project.
12. What does RERA Audit or Form 5 mean? Is it compulsory?
Ans. RERA Audit (Form 5) is the annual report on statement of account. According to the section 4 (2)(l)(D) the promoter shall get his account audited within six months after the end of every financial year i.e. on or before 30th September of that year by a chartered account in practice, and shall produce a statement of accounts duty certified and shall be verified during the audit that the amounts collected for a particular project have been utilized for that project only.
13. Can the real estate project be extended beyond the completion date?
Ans. The promoter shall apply for the extension of the completion date under section 6 and under section 7(3) of the RERA act.
14. Can the real estate project be extended beyond one year of the completion date?
Ans. The promoter shall apply for extension of the project beyond one year of the completion date under section 7(3) of the RERA act. The promoter shall require the written consent of the two third of the allottees who have agreed to take the apartment in such building.
15. Can a real estate project be registered on Proprietorship firm?
Ans. The real estate project would be registered on the individual name whose is the proprietor of the firm as the promoter of the project.
16. What does RERA Carpet Area means?
Ans. According to section 2 (k) the word “carpet Area” means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under service shaft, exclusive balcony or verandah area and open terrance area, but includes the area covered by the internal partition walls of the apartment.
17. What does Form 2A means?
Ans. Form 2A is the Quality Assurance Certificate duly certified by an Engineer who supervises the work appointed by promoter, after properly testing the materials as per the IS Standards to ensure the quality of the materials being used on the projects.
18. Is it compulsory for all real estate projects to submit Form 2A?
Ans. According to MahaRERA order No. 5/2018 dated 26/11/2018 the projects registered after 01/12/2018 should submit the quality information in Form 2A by end of every financial quarter.
19. Can a real estate project be registered with zero FSI commencement certificate?
20. What if the promoter fails to comply with or contravenes the any provisions or orders of this act?
Ans. If the promoter fails to comply with or contravenes the any provisions or orders of this act he shall be liable to a penalty which may extend up to 5% of the estimated cost of the project.
21. How can a buyer check if the real estate project is registered under MahaRERA ?
Ans. Go to google search MahaRERA login Search Projects Registered Projects Project Name or Promoter Name (any one).
22. Can a promoter sell Open Parking?
Ans. Open parking been clearly included in the definition of "Common Areas" which need to be conveyed to the Association of Allottees after Occupancy Certificate is received. Hence, sale or allotment of Open Parking Areas by the Promoter is not allowed.
23. In case in delay of possession from promoter can a buyer approach MahaRERA?
Ans. Yes, the home buyer can approach MahaRERA and can file complaint against the Promoter for delay in possession.
24. In case of delay in getting possession from the promoter, will the buyer be entitled to get interest ?
Ans. Yes. In accordance with the Agreement for Sale , if the Promoter fails to abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from the project, interest as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till the handing over of the possession.
25. In case of any structural defect is the promoter liable for compensation?
Ans. As per the Section 14 (3) of the act, in case any structural defect or any other defect in workmanship, quality or any other obligations of promoter as per the agreement for sale relating to such development is brought to the notice of the promoter within a period of five years by the allottee from the date of handing over possession, it shall be the duty of the promoter to rectify such defects without further charge, within thirty days, and in the event of promoter's failure to rectify such defects within such time, the aggrieved allottees shall be entitled to receive appropriate compensation.
26. Is existing residents of a Redevelopment Scheme are covered under provisions of MahaRERA?
Ans. Yes, the existing residents are termed as Allottees under the act, if he has purchased any additional area.
27. As per our Agreement completion date mentioned was before introduction of RERA. While registering with MahaRERA, promoter gives another completion date. What happens to delay as per the completion date mentioned in agreement. Can the buyer approach MahaRERA or can he get compensation?
Ans. Yes, the buyer can approach MahaRERA and is liable for compensation as per section 18 of the Act.
28. Can home buyer approach MahaRERA and Consumer forum for same dispute?
Ans. An aggrieved person can only approach one of the two forums for redressal of his grievance.