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Details of a developer’s real estate project including withdrawal of money, certificate from engineers and others will be available in public domain.

By Varun Singh

Maharashtra Real Estate Regulatory Authority (MahaRERA), has decided to put several details of developers in public domain.

The circular states, MahaRERA Authority has been established so as to ensure that transactions between promoters and allottees are governed by the norms of efficiency, transparency and accountability, to bring about symmetry of information between promoters and allottees and to significantly reduce frauds and delays.

In view of the above the following documents uploaded by the promoter in respect of their real estate project shall be made available in public domain, namely:

a) Form 1, being the certificate issued by the project architect at the time of registration of an ongoing project and for withdrawal of money from RERA designated account.
b) Form 2, being the certificate issued by the project engineer, at the time of registration of an ongoing project and for withdrawal of money from RERA designated account.
c) Form 2 A, being the certificate issued by the engineer i. e. the site supervisor, which is be submitted at the end of every financial year till the completion of the project.
d) Form 4, being the certificate issued by the architect on completion of the project.
e) Form 5, being the certificate containing the annual report on statement of accounts issued on the letter head of the chartered accountant who is the annual auditor of the promoters’ company / firm.
f) Disclosure of sold / booked inventory (building wise) in the project.
g) Report from CERSAI on security interest created in the real estate Project that is available on CERSAI website at w ww.cersai.ore.in
h) Declaration about commencement certificate.

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This means that all details of the project which is selling apartments in Mumbai and the state of Maharashtra will be available in public domain.

Also Read: MahaRERA stops this builder from selling flats, for this reason

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