RERA registration no. Must in ads compulsory in ads by realtors from August

RERA registration no. Must in ads compulsory in ads by realtors from August
30/05/2017 , by , in News/Views

State RERA chairman Gautam Chatterjee said after August 1, all builders will have to mention their RERA registration numbers in advertisements.

As per a clause of the Real Estate Regulation and Development Act, Maharashtra, it is compulsory for developers to give information about their projects from May 1, so that consumers can check what they are offered and whether the promises made by builders are fulfilled or not. Builders will also have to regularly update the details of their ongoing projects.

“The realtors have been given three months’ time from May 1 to complete the online registrations of their ongoing projects and also the new projects. After August 1, they will have to compulsorily mention the RERA registration number in their advertisements,” said Chatterjee.

“Since May 1, 900 agents and 16 projects have been registered in state . Yet I am not satisfied as there are at least 30,000 projects which need to be registered immediately,” he added.

Registration of a project is not needed if the promoters have received completion certificates for either renovation, repair or re-development before May 1. Phase-wise uploading of the project can be done and promoters have to obtain registration under this Act for each phase separately. All the necessary disclosures and documents will have to be submitted to the authority online after which a registration number will be allotted.

After the layout is approved by the municipal corporation, the builders can register first building and consequently the others.

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