The promoter can continue the construction of the project without registration. However, the promoter has to register the project before he wishes to start any form of advertising, marketing, booking, selling, offering to sell, or inviting people to purchase plots, apartments, or buildings.

The phase for which the part OC is received does not require registration. The phase for which the construction is ongoing and the part OC is not obtained requires registration.

As per Section 13(1) A, 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 a written agreement for sale with such person and registering the said agreement for sale.

No. Section 13(1) of the Act prohibits the promoter from taking more than 10% of the cost of an apartment without entering into a duly registered written agreement for sale.

he promoter is required to set up an allottee association or society within 3 months of 51% of allottees booking an apartment in the project.

No. Section 13(1) of the Act prohibits the promoter from taking more than 10% of the cost of an apartment without entering into a duly registered written agreement for sale.

It is the duty of the promoter, upon receiving the Maha RERA Certificate, to update the project details on the website at least once every 90 days, as mentioned in Section 11 of the Act.

RERA account, or 70%, means a designated bank account that a promoter must open for each individual project, where 70% of the project funds realized from allottees must be deposited and utilized exclusively for that project.

No. There should be only one designated bank account for every registered project or registered phase of a project.

The amount from the separate account can be withdrawn by the promoter on the basis of the certificates duly certified by a chartered accountant in practice, an engineer, and an architect proportional to the percentage of completion of the project.

RERA Audit is the annual statement of account report (Form 5). In accordance with Section 4(2)(l)(D), the promoter must have his accounts audited within 6 months of the end of each financial year (i.e., by September 30th of the same year) by a chartered accountant in practice. The statement of accounts shall be duly certified and verified at the time of the audit to ensure that the funds collected for a specific project have been used exclusively for that project.

Yes, a real estate project can be extended beyond the completion date. The promoter can apply for it under section 6 and under section 7(3) of the RERA act.

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 51% of the allottees who have agreed to take the apartment in such building.

The real estate project shall be registered on the individual name whose is the proprietor of the firm as the promoter of the project.

In accordance with Section 2(k), the term carpet area refers to the net usable floor space of an apartment and excludes the space covered by external walls, service shafts, exclusive balcony/ verandah areas and open terraces, but includes the space covered by internal partition walls of an apartment.

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 I.S. Standards to ensure the quality of the materials being used on the projects.

According to Maha RERA Order No. 5/2018 dated 26/11/2018 the projects registered after 01/12/2018 must submit the quality information in Form 2A by the end of every financial quarter (Year).

Yes, a Real Estate project can be registered with zero FSI commencement certificate.

If the promoter fails to comply with or contravenes any provisions or orders of the Act, he shall be liable to a penalty which may extend up to 5% of the estimated cost of the project.

Search for Maha RERA login and navigate to the “Registered Projects” section search for a project using either the Project Name or the Promoter Name.

Open parking is explicitly included in the definition of “Common Areas,” which must be conveyed to the Association of Allottees after the Occupancy Certificate is received. Therefore, the sale or allotment of open parking areas by the Promoter is prohibited.

Yes, a buyer can approach Maha RERA and can file complaint against the Promoter for delay in possession by the Promoter.

Yes, under the terms of the AFS, if the promoter does not adhere to the timeline for completion of the project and transfer of the [Apartment / Plot] to allottee, then the promoter will pay interest to allottee who has no intention of pulling out of the project, as stated in the rules. This interest is applicable on all amounts paid by the allottee for every month of delay until the possession is handed over.

Section 14(3) of the Act provides that if the allottee brings to the attention of the promoter within five years of the date of transfer of possession of the property if there is a structural defect or any defect in workmanship or quality or any other obligation of the promoter under the agreement for sale related to such development, the allottee has 30 days to rectify the defects without charge to the promoter. If the promoter fails to rectify such defects within this time frame, the aggrieved allottees shall be entitled to receive appropriate compensation.

Yes, the existing residents are termed as Allottees under the act, if he has purchased any additional area.

Yes, the buyer can approach Maha RERA and is liable for compensation as per section 18 of the Act.

A person who feels wronged is limited to using one of the two venues to voice their concerns.