MahaRERA came out with a circular listing out points that seeks details from the developers carrying out any form of redevelopment in Mumbai & Maharashtra.
By Varub Singh
There are several redevelopment proiects being undertaken in the State, such as Slum Rehabilitation Projects, Redevelopment of Housing Societies, Redevelopment of Housing Schemes of MHADA & Other Public Authorities, Cluster Redevelopmen! Redevelopment of Cessed Buildings etc. under 33(5), 33(7), 33(7 A), 33(78), 33(9), 33(9A), 33(98),33(10),33(10,4), etc. of Greater Mumbai DCPR 2034 and under 7.3,7.4,7.6, 1.4.6, 74.7, etc. of UDCPR for Maharashtra State.
While the Sale Component in these redevelopment projects needs to be registered with MahaRERA as per Section 3 of the Act.
MahaRERA stated that, there is a need to clarify the details of the documents to be submitted by Promoter for these projects so as to ensure completeness of the registration application and removal of any ambiguity.
MahaRERA says, this shall ensure that comprehensive information is available to citizens in a simple and easily understandable formats, ensuring informed decision making.
This will also enhance transparency and citizen centricity in real estate sector in the State says the authority.
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Therefore, the following documents have to be attached for registration of Sale Component of Redevelopment Projects:
a) Resolution / NOC from Society/Association of residents of the rehabilitation component confirming the Promoter’s rights to undertake the redevelopment project.
b) LoI / NoC / Equivalent Document from the Planning Authority confirming Promoter’s rights to undertake the redevelopment project.
c) Valid Commencement Certificate of Sale Component from concerned Planning Authority.
d) All the above documents should be in name of the Promoter entity. Where the Promoter’s name is not on Commencement Certificate, a copy of the collaboration agreement, development agreement, joint development agreement or any other form of agreement, as the case may be, confirming the right of Promoter entity to execute the agreement for sale or such other document, in respect of the saleable component.
e) All the documents provided above shouid be clearly legible.
f) The data provided in the documents should be current up-to-date and true on the date of submission of application
With this homebuyers will be able to ascertain that the project in which they are investing is a redevelopment project and has all the required permissions from the society and tenants Association.
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