MahaRERA implements One Project, One Number policy
Real Estate

MahaRERA implements One Project, One Number policy

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has implemented a policy requiring a single registration number for each standalone project, with the aim of protecting the interests of homebuyers.

This initiative was prompted by instances where developers obtained multiple MahaRERA registration numbers for the same real estate project or its sections. The directive, which came into effect immediately after being issued, is designed to prevent fraudulent activities and safeguard homebuyers from deceitful practices.

Under the new directive, promoters seeking registration for a housing project must submit a declaration-cum-undertaking on their official letterhead. This declaration, in the prescribed format, assures that neither the proposed project site nor any of its components already possesses a MahaRERA registration number, and there are no pending applications.

Ajoy Mehta, Chairman of MahaRERA, emphasised the importance of the "One Stand-alone Project: One MahaRERA Number" policy in preventing project delays and protecting the interests of all stakeholders, especially homebuyers. The decision is expected to enhance MahaRERA's monitoring capabilities and ensure strict adherence to regulatory provisions.

The directive applies to both standalone and multi-phased housing projects on extensive plots, with the specified format encompassing details such as CS number, CTS number, final plot number, survey number, Hissa number, GAT number, Khasra number, etc. MahaRERA will take appropriate action against promoters providing inaccurate, misleading, or deceptive information.

The regulator observed that some promoters were obtaining additional MahaRERA registration numbers without disclosing them to the authority, causing challenges and confusion, particularly in projects where landowners and promoters operate independently. To address this, MahaRERA introduced the "One Stand-alone Project: One MahaRERA Number" policy.

In the case of projects on large plots, separate registration numbers can be obtained for the project or its phases. However, any changes to government-declared reservations on the plot require formalities as prescribed by the authorities, including consent from allottees.

MahaRERA implemented these measures to prevent complaints and disputes related to common or special amenities in projects, such as recreation areas, playgrounds, parking, internal roads, swimming pools, clubhouses, and gyms. The regulator mandates clear and unambiguous specifications for each phase of a project in applications for new MahaRERA registration numbers.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has implemented a policy requiring a single registration number for each standalone project, with the aim of protecting the interests of homebuyers. This initiative was prompted by instances where developers obtained multiple MahaRERA registration numbers for the same real estate project or its sections. The directive, which came into effect immediately after being issued, is designed to prevent fraudulent activities and safeguard homebuyers from deceitful practices. Under the new directive, promoters seeking registration for a housing project must submit a declaration-cum-undertaking on their official letterhead. This declaration, in the prescribed format, assures that neither the proposed project site nor any of its components already possesses a MahaRERA registration number, and there are no pending applications. Ajoy Mehta, Chairman of MahaRERA, emphasised the importance of the One Stand-alone Project: One MahaRERA Number policy in preventing project delays and protecting the interests of all stakeholders, especially homebuyers. The decision is expected to enhance MahaRERA's monitoring capabilities and ensure strict adherence to regulatory provisions. The directive applies to both standalone and multi-phased housing projects on extensive plots, with the specified format encompassing details such as CS number, CTS number, final plot number, survey number, Hissa number, GAT number, Khasra number, etc. MahaRERA will take appropriate action against promoters providing inaccurate, misleading, or deceptive information. The regulator observed that some promoters were obtaining additional MahaRERA registration numbers without disclosing them to the authority, causing challenges and confusion, particularly in projects where landowners and promoters operate independently. To address this, MahaRERA introduced the One Stand-alone Project: One MahaRERA Number policy. In the case of projects on large plots, separate registration numbers can be obtained for the project or its phases. However, any changes to government-declared reservations on the plot require formalities as prescribed by the authorities, including consent from allottees. MahaRERA implemented these measures to prevent complaints and disputes related to common or special amenities in projects, such as recreation areas, playgrounds, parking, internal roads, swimming pools, clubhouses, and gyms. The regulator mandates clear and unambiguous specifications for each phase of a project in applications for new MahaRERA registration numbers.

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000