MahaRERA Issues Order on Project Registration Eligibility and Real Estate Agent Fee Clause in Agreements for Sale

Maharashtra Real Estate Regulatory Authority (Authority) has issued an order on 22nd October related to the eligibility criteria for project registration and the inclusion of real estate agent fee clauses in agreements for sale and Sale deeds. No registration required for exempted Projects Section 3(2) of the Real Estate (Regulation & Development) Act, 2016 specifies projects that do not require registration. This includes projects – 1.Where the land area is less than or equal to 500 square meters or the number of apartments does not exceed eight. 2.That have received a completion certificate before the Act came into force.3.Those involving renovations that do not include marketing or selling. The order clarifies that real estate projects exempt from registration under Section 3(2) do not require a MahaRERA project registration certificate for the registration of agreements for sale or sale deeds. Commencement and Completion Certificates for Plotted Developments Further, the Order addresses the ambiguity surrounding what constitutes these Commencement and Completion Certificates for plotted real estate projects. For plotted real estate projects, the commencement certificate is defined as the final approval granted in accordance with the land subdivision layout documented in Form D-3 of the Unified Development Control and Promotion Regulations (UDCPR) or any similar approval with necessary non-agricultural permission, will be regarded as the commencement certificate for plotted real estate projects. Whereas, the completion certificate is certificate issued by the competent authority that informs the promoter and/or licensed engineer/structural engineer/supervisor about the compliance with the conditions imposed in the final approval of the land subdivision layout in Form D-3 or a similar approval. Additionally, if non-agricultural permission is required, the completion certificate may also include a receipt from the Tahsildar acknowledging the date of commencement for non-agricultural use. This should be accompanied by Form 4, duly filled and signed by the project architect, demonstrating compliance with all applicable regulations. Real Estate Agent Fee Clause The order incorporates new clause named Clause 15A in the model agreement for sale. It stipulates that if a Registered Real Estate Agent helps with the transaction between the promoter and the allottee, any fees, charges, or commissions that are agreed upon (including taxes) must be paid by the promoter, the allottee, or both, depending on what was agreed in their payment terms. Order No – 62/2024 and 63/2024Click Here To Read/Download The Order

MahaRERA Issues Order on Project Registration Eligibility and Real Estate Agent Fee Clause in Agreements for Sale

Aryan Raj

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MahaRERA Issues Order on Project Registration Eligibility and Real Estate Agent Fee Clause in Agreements for Sale

Aryan Raj

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