Introduction
The regulatory authority introduced the move in response to cases where developers have obtained two or more MahaRERA registration numbers for the same or parts of a real estate project.
Maharashtra Real Estate | The Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated a single registration number for each independent project, for the benefit of home buyers.
Maharashtra Real Estate
The regulatory authority has introduced the move in response to cases where developers have obtained two or more MahaRERA registration numbers for the same or parts of a real estate project.
The order issued on Wednesday, effective immediately, is aimed at curbing fraudulent practices and defrauding home buyers. According to the latest directive, any promoter seeking fresh registration for a housing project must submit a declaration-cum-undertaking on their official letterhead to proceed.
This document, in the prescribed format, certifies that the proposed project site or any part thereof has no MahaRERA registration number or any pending application.
Chairman Ajoy Mehta said
“MahaRERA is trying its best to ensure that there is no possibility of the developer delaying the project. ‘One Stand-Alone Project: One Mahrera Number’ is another key policy to protect the interests of all stakeholders, including home buyers. This latest decision will help MahaRERA monitor all projects more efficiently while strictly implementing regulatory norms,” said Ajoy Mehta, Chairman of MahaRERA.
Conclusion
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