Pune, 17th January 2024: In a significant move to protect the interests of homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has implemented the “One Stand-alone Project: One MahaRERA Number” policy, effective immediately.
The decision was prompted by instances of developers obtaining multiple MahaRERA registration numbers for the same or parts of real estate projects, raising concerns about potential fraud against homebuyers.
Under the new order, every promoter seeking registration for a housing project must submit a Declaration-cum-Undertaking on their letterhead. This declaration asserts that neither the proposed project site nor any part of it possesses a MahaRERA registration number, nor is any application pending. This mandate applies to stand-alone and multi-phased housing projects on large plots.
The prescribed format for the declaration includes details such as CS number, CTS number, final plot number, survey number, Hissa number, GAT number, Khasra number, etc.
If the information provided is found to be incorrect, misleading, or false, MahaRERA reserves the right to take appropriate action against the concerned promoter.
MahaRERA identified instances where promoters were acquiring additional MahaRERA registration numbers without disclosing this to the authority, despite the existence of a registration number for the plot or project. This practice, especially when landowners and promoters operate independently or when a landowner contracts with multiple promoters, results in complications during project completion. Buildings facing such challenges often encounter difficulties in obtaining Occupancy Certificates (OC), leading to homebuyers experiencing issues with water supply and other basic civic facilities.
To mitigate these challenges, MahaRERA introduced the “One Stand-alone Project: One MahaRERA Number” policy. For projects on large plots, separate registration numbers for the project or phases can be obtained. However, any alterations to the plot’s reservations declared by the Government and Local Planning Authority require formalities as prescribed by the authorities concerned. This includes obtaining legal consent from allottees to prevent complaints and disputes related to common or special amenities like recreation areas, playgrounds, parking, internal roads, swimming pools, clubhouses, and gyms. All these details must be explicitly specified for each phase of every project in applications submitted for a new MahaRERA registration number.
“MahaRERA is trying its best that there should not be any possibility under the pretext of which the developer gets an opportunity to delay the project. ‘One Stand-alone Project: One MahaRERA Number’ is another crucial policy towards safeguarding the interest of all stakeholders including homebuyers. Latest decision will help MahaRERA to monitor all the projects more effectively, while strictly implementing the regulatory provisions”, said Ajoy Mehta, Chairman, MahaRERA.