MahaRERA registration compulsory for selling property
The Maharashtra government on Saturday issued a notification directing property registration officials that no agreement for sale for any property in ongoing real estate projects should be registered without first verifying that the project is registered with Maharashtra Real Estate Regulatory Authority (MahaRERA), in line with Real Estate (Regulation and Development) Act (RERA) provisions.
The resolution ensures that the registration officers do not register agreements for sale of flats or any other real estate project that hasn’t got completion certificate without verification that the project is registered or unregistered on MahaRERA portal.
The GR also reiterates the provisions of Section 3 of RERA, which restrains developers or promoters from marketing, advertising, booking, selling or offering for sale any ongoing real estate project in any planning area without first registering it with the State RERA Authority.
Section 3 of RERA is applicable to any project that has received statutory sanctions from the planning authority and Commencement Certificate, but is yet to receive Completion Certificate. Going a step forward, the government has with this GR ensured that unscrupulous developers cannot even register any agreements for sale with registration offices without verification that the project is indeed registered with MahaRERA.