A new circular by MahaRERA stated that promoters should upload legal title report of land on which project is being constructed on the website.
By Varun Singh
MahaRERA recently came up with a circular that has made it mandatory for developers to upload the legal title report.
Section 4 of Real Estate (Regulation & Development) Act, 2016 prescribes the
procedure for real estate project registration and Rule 3 (2) (c) of RERA mandates submission of a copy of the latest legal title report with every project registration application, reflecting the flow of title of the owner or promoter to the land on which development is proposed, with authentication of such title by practicing advocate.
The ciruclar states, “Now, therefore it has been decided the provide a format for Legal Title Report. This format is Annexed as’Format A” and the applicant should upload this format at the place of “Legal Title Report” in the application for registration of the project.”
You can visit here to have a look at the format.
lf Title / Commencement Certificate is not in the name of the Promoters,
then the Promoter has to add Promoter, Land Owner (investor) Field and add details of all land owners along with their Form B and MOU/DA, Area / Revenue Share etc. details.
The authority further decided to provide a format for making application under section 7(3) by obtaining consents of at least 51 % ol allottees. And the applicant should upload this format in the extension application.” (Format B)
Further the authority had given format for making application under section 14(2) by obtaining consent of at least two-thirds of allottees. (Format C)
Adv Sunil Kewalramani says, “If you will see The Format B and C of the Circular, the Builder will have to take specific signatures of the allottees for their consent. This is also a good move. Usually builders mislead the allottees and take their consent signatures at the time of registration of the agreement.”
On the legal title report Kewalramani says, “As per the new Circular, Landowner, encumberances in the property will be specially mentioned in the Title report. This is for transperancy.”
