The Maharashtra Real Estate Regulatory Authority (MahaRERA) vide circular dated 11th October 2019, issued a clarification regrading Registration Agreement for Sale/Sale Deed for Real Estate Projects.
According to section 25 of RERA Act, the chairperson shall have the powers of the general superintendence and to give directions in conduct of the affairs of the MahaRERA. The department of revenue and forest has issued a Government Regulation dated 20th September 2019, in which it has stated that the registration of agreement for Sale / Sale Deed of any apartments will be done only if the project is registered or excluded from Registration under real estate act .
MahaRERA received several complaints and inquiries from the buyers and promoters and developers who expressed their difficulties in registration of Agreement for Sale or Sale Deed for Real Estate Projects.
Therefore, MahaRERA clarifies that the following transactions or projects do not require MahaRERA project registration for agreement for sale or sale deed registration, namely:
- Real Estate Projects where the area of land proposed to be developed is less than or equal to five hundred square meters.
- Projects where number of apartments proposed to be developed is less than or equal to 8 apartments.
- Projects where promoter has received completion certificate or occupancy certificate or N/A (in case of plotted development) from Competent Authority, any time before agreement for sale or sale deed registration.
Click here to read the Notification
